Honda Workshop Manual CB500 550, page 112:
"4. BRAKE LINING WEAR INDICATOR Discription
The brake lining wear indicator is provided to check the wear condition of the brake linings visually from outside. As shown in the figure below, the indicator plate is attached to the brake cam. As the brake lining has worn, the brake cam moves excessively. Such a movement of the cam is checked by the arrow on the periphery of the indicator. Further the brake panel cam boss is provided with the "wear limit" mark to make it possible to check the service limit (replacement time) of the lining easily with the brake panel installed."