IIQE Paper 2 Practice Questions - IIQE Paper II - General Insurance Examination Exam

What is the primary function of the First Fund administered by the Motor Insurers' Bureau (MIB) of Hong Kong?

To pay claims for property damage caused by uninsured vehicles To compensate victims of traffic accidents involving uninsured or unidentified ('hit-and-run') drivers for bodily injury or death To provide emergency medical funding for any traffic accident victim To cover the losses of policyholders when an insurance company becomes insolvent

Correct Answer:

To compensate victims of traffic accidents involving uninsured or unidentified ('hit-and-run') drivers for bodily injury or death

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