West Virginia Mortgage Law Practice Test

The Division of Financial Institutions is headed by the:

1. Commissioner

2. Governor

3. Lieutenant Governor

4. Treasurer

The correct answer is: Commissioner

The Division of Financial Institutions in West Virginia is indeed headed by the Commissioner. This role is critical as the Commissioner oversees the regulation and supervision of financial entities within the state, ensuring their compliance with state and federal laws. The Commissioner is responsible for the implementation of policies that promote the safety and soundness of financial institutions, protect consumers, and maintain public confidence in the financial system. While the Governor and Lieutenant Governor are key figures in the state's executive branch, they do not have direct oversight over the Division of Financial Institutions. Similarly, the Treasurer handles a different set of responsibilities related to the state’s finances, but does not govern the activities of the Division. Understanding the structure of regulatory bodies is vital for navigating West Virginia's mortgage law effectively.