(I)A majority of life insurance companies are organized as mutual companies.
(II)State governments have the major responsibility for regulating insurance companies.

Question

Quizplus · Accepted Answer

(I) is false because a majority of life insurance companies are not organized as mutual companies; many are stock companies owned by shareholders. (II) is true because in the United States, insurance companies are primarily regulated by state governments, not the federal government.

(I)A Majority of Life Insurance Companies Are Organized as Mutual