Florida Insurance Claims Adjuster License Practice Exam

Who administers the Financial Responsibility Law?

1. The Federal Bureau of Motor Vehicles

2. The Department of Health and Human Services

3. The Insurance Regulation Commission

4. The Department of Highway Safety and Motor Vehicles

The correct answer is: The Department of Highway Safety and Motor Vehicles

The Financial Responsibility Law is a state law that requires drivers to have sufficient insurance coverage to protect themselves and others in the event of an accident. While it may seem like the Federal Bureau of Motor Vehicles (A) or the Department of Health and Human Services (B) would be responsible for this law, they are federal agencies that do not have jurisdiction over state laws. The Insurance Regulation Commission (C) may play a role in overseeing insurance companies, but they are not the ones who administer the law. The correct agency for administration of the Financial Responsibility Law is the Department of Highway Safety and Motor Vehicles (D), which is responsible for enforcing all motor vehicle laws in the state, including insurance requirements.