Only the following issues shall be considered at any formal hearing held on request of a person:

(1) Whether the person was the owner or driver of any motor vehicle of a type subject to registration under the motor vehicle laws of this state which was in any manner involved in an accident within this state;

(2) Whether the accident resulted in bodily injury or death of any person or damage to the property of any one person in an amount meeting or exceeding the property damage threshold established by WAC 308-102-008;

(3) Whether there is a reasonable possibility of a judgment being entered against the person in the amount required by the order of the department fixing such security;

(4) Whether the amount of security to be deposited, if any, is sufficient to satisfy any judgment or judgments resulting from such accident as may be recovered against the person; and

(5) Whether the person is entitled to an exception to the requirement of security pursuant to RCW 46.29.080.