If Bill is convicted for acting as an insurance adjuster without a license, which of the following statements is true?

The situation described illustrates a serious legal violation concerning the practice of insurance adjusting without a valid license. When someone is convicted of this offense, it is treated as a felony, which indicates the severity of the crime. Felonies typically carry harsher penalties than misdemeanors, including the possibility of significant fines and imprisonment.

In this case, since the answer is that it is a felony, Bill could indeed face both fines and imprisonment. The risks associated with practicing without a license underscore the importance of compliance with licensing requirements in the insurance industry. As a result, the penalties are meant to deter unauthorized practice and protect consumers, emphasizing the regulatory framework that governs professional conduct in insurance adjusting.

This understanding reflects the legal implications of operating without a license, which can vary depending on jurisdiction but often includes rigorous consequences for those who do not adhere to licensing laws.