What is the maximum fine for willfully misrepresenting information on a license application?

The maximum fine for willfully misrepresenting information on a license application is $500. This amount reflects the seriousness with which regulatory bodies view the integrity of license applications, as misrepresentation can undermine the trust in the insurance industry and lead to harmful consequences for consumers. Enforcement of this fine serves as a deterrent against dishonest behavior by emphasizing the importance of accuracy and honesty during the license application process.

The options provided offer varying amounts, but the regulation pertaining to license applications specifically identifies $500 as the maximum fine for this offense, ensuring that individuals understand the potential repercussions of their actions in the context of obtaining a license.