Final Answer:
A producer's license may only be suspended or revoked if the producer violates insurance laws or regulations. Option C is the answer.
Step-by-step explanation:
The issuance, suspension, or revocation of an insurance producer's license is typically governed by adherence to laws and regulations. Option C, "Violates insurance laws or regulations," accurately captures the circumstances under which a producer's license may face suspension or revocation. Violations could include unethical practices, fraudulent activities, or other breaches of insurance-related laws.
Completion of additional training (Option A) may be a corrective measure but doesn't directly address the grounds for suspension or revocation. Paying a fine (Option B) may be a consequence for certain violations, but the primary trigger for license suspension or revocation is the violation of insurance laws or regulations.
Option C is the answer.