What type of sanction may be cumulative according to the text?

The option indicating that all of the listed sanctions may be cumulative is correct because each type of sanction—warnings or reprimands, fines, and withdrawals of licenses—can be combined or applied simultaneously depending on the circumstances of the infraction.

In sports management and regulation, cumulative sanctions serve to reinforce disciplinary actions. For instance, an agent may first receive a warning for minor infractions. If the behavior continues, a fine might be imposed, and if there are further violations, the agent could face the more severe consequence of having their license withdrawn. This layered approach to sanctions allows governing bodies to escalate the consequences appropriately and ensures that agents are held accountable for their actions. The existence of such a structure promotes greater compliance and adherence to rules and regulations within the sport.