What is one potential sanction for violating the RIBO Act?

The revocation of the brokerage license is a significant potential sanction for violating the RIBO Act. This measure serves as a critical enforcement tool to uphold the integrity of the insurance industry and protect consumers. When an individual or brokerage fails to comply with the regulations set out in the RIBO Act, the governing body can take decisive action by revoking their license to operate in the insurance sector. This ensures that those who engage in unethical or illegal practices cannot continue to provide services, thereby maintaining public trust in the industry.

In contrast, the other choices suggest rewards or exemptions that are not consistent with the purpose of sanctions, which are intended to penalize non-compliance rather than reward it. Promotion within their brokerage and financial bonuses would typically be reserved for exemplary conduct, while exemption from further licensing exams would undermine the regulatory framework designed to ensure competence and accountability among insurance professionals.