Final answer:
A commissioner may revoke or suspend an insurance agent's license for committing a felony, fraudulent license acquisition, or offering illegal premium rebates. Issuing insufficient coverage is not typically related to the agent's licensing authority.
Step-by-step explanation:
The question pertains to the conditions under which a commissioner may enact disciplinary action regarding the licenses of insurance agents. A license may be revoked, suspended, or non-renewed if the licensee has been convicted of a felony, obtained a license by misrepresentation, or offered a premium rebate to an insured. These actions are considered violations as they either show a lack of trustworthiness, involve a deception in the licensing process, or constitute an unfair trade practice in the case of rebating.
The option that is not a likely reason for the commissioner to take action is d. Issued insufficient coverage to a customer through apparent authority. While issuing insufficient coverage can be a problem, it does not typically involve agency authority, as the authority given to agents is primarily concerned with their capacity to represent the insurance provider. If an insufficient coverage was issued by mistake or due to misunderstanding policy limits, it might lead to other consequences, but it is not grounds for revocation or suspension of a license.