A Broker's license may be revoked if which of the following occurs?

The correct answer is that a Broker's license may be revoked if a person is guilty of fraud. In the insurance industry, maintaining trust and integrity is paramount. Fraud undermines the fundamental principles upon which the industry operates, as it involves deceit or misrepresentation for personal gain, ultimately harming clients and the overall trustworthiness of the insurance system. When a broker is found guilty of fraud, it reflects a severe breach of ethical and professional standards, justifying the revocation of their license to protect the public and maintain industry integrity.

While impaired driving is a serious offense, it does not directly relate to the professional responsibilities and ethical standards expected of a broker. Not holding a professional designation within a set timeframe can also be significant, but it generally leads to non-compliance issues rather than criminal implications that would mandate license revocation. Lastly, being out of the province for an extended period may affect a broker's ability to conduct business but does not automatically result in revocation unless it leads to violations of conduct or ethical responsibilities. Thus, fraud stands out as a definitive cause for revocation, highlighting the critical nature of ethical practices in the profession.