Life & Health · Chapter 20 · Financial Services Regulation
Chief Financial Officer (CFO)
Definition
Florida's elected chief fiscal officer — a member of the Governor's Cabinet, head of the Department of Financial Services, Florida's State Fire Marshal, and a member of the Financial Services Commission. Also known as the Treasurer. Duties include state accounting/auditing, investing state funds, investigating fraud (identity theft and insurance fraud), insurance consumer service, licensing and oversight of insurance adjusters, agents, and agencies, workers' compensation compliance, the Bureau of Unclaimed Property, and regulating cemeteries and funeral homes. May suspend or revoke licenses — or issue fines or probation instead.
In plain English
Florida's money boss: elected statewide, runs the DFS, doubles as Fire Marshal, and holds the hammer over every agent's license.
Exam tip
The CFO is ELECTED and heads the DFS; the Insurance Commissioner is APPOINTED (by the FSC) and heads the OIR. The exam loves swapping who is elected vs appointed.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
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