Idaho Regulation of Casualty Insurance Exam Questions and Answers (Graded A)

State Minimum For Motor Vehicle Liability Insurance - ANSWER-$25,000 for one, $50,000 two/more, $15,000 for destruction of another's property. consequences for unable to provide proof of financial responsibility - ANSWER-fine $75 for first offense. Second and after- fine up to $1000; imprisonment up to 6 mos county jail; or both a fine and imprisonment. unisured motorist coverage - ANSWER-pays damages for bodily injury to an insured person who is legally entitled to collect damages from the owner or operator of a vehicle that has no insurance, or from a hit0and0run vehicle where the owner or operator is unknown. underinsured motorist coverage - ANSWER-pays damages for bodily injury to an insured person who is legally entitled to collect damages from the owner or operator of a vehicle with inadequate limits of liability insurance coverage. insurer insolvency protection - ANSWER-applies only to accidents occurring during a policy period where its insured's uninsured motorist coverage is in effect and the liability insurer of the driver at fault becomes insolvent within one year after the accident. Assigned risk plan - ANSWER-provides auto insurance to individuals who are unable to obtain policies through the normal market because they are considered high risk drivers. Exclusive Remedy - ANSWER-Work comp component baring employees injured on the job from making a tort liability against the employers $15,000 - ANSWER-Motor vehicle liability policies issued in Idaho must provide what minimum amount of coverage to pay for property damage in one accedent? Compensation for pain and suffering - ANSWER-Which of the following benefits is NOT paid by workers comp: -compensation for pain and suffering -funeral benefits -medical benefits -rehabilitation benefits She will be eligible for insurance through the Idaho Assigned Risk Plan - ANSWER-Sondra has been denied coverage by two insurers in Idaho for a personal auto insurance policy and cannot obtain a policy elsewhere. What is the result if she applies for