TEST TEST TEST

TEST TEST TEST

Professional Development

14 Qs

quiz-placeholder

Similar activities

Commercial Lines

Commercial Lines

Professional Development

10 Qs

HIPAA/CARE/Call Management

HIPAA/CARE/Call Management

Professional Development

18 Qs

Policies

Policies

Professional Development

11 Qs

PEDAGOGY

PEDAGOGY

Professional Development

12 Qs

Software Ordering

Software Ordering

Professional Development

12 Qs

SDF101 Ch3 Performance mngt process

SDF101 Ch3 Performance mngt process

Professional Development

15 Qs

Week 11

Week 11

Professional Development

10 Qs

Insurance Basics - I

Insurance Basics - I

University - Professional Development

14 Qs

TEST TEST TEST

TEST TEST TEST

Assessment

Quiz

Professional Development

Professional Development

Easy

Created by

Elizabeth Steeves

Used 1+ times

FREE Resource

AI

Enhance your content

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How old was Alfred M. Best when he began to work full time in the insurance industry?
15
50
70
23

Answer explanation

From an early age, Alfred Best was a hard worker, committed to helping support his family. At 15, Alfred took a job with the Queen Insurance Company of America in New York City at $3 per week.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What year did Alfred Best incorporate the Alfred M. Best Company?
1899
1945
1776
1985

Answer explanation

In December 1899, Alfred M. Best launched the Alfred M. Best Company.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the name of the first publication that the company produced?
Best’s Insurance Reports – P/C plus monthly supplement that became Best’s Review
Best’s Settlement Options Manual
Best’s Executive Data Service
Best’s Intelligencer

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the first catastrophe that gave AM Best much-needed publicity and highlighted the need for the company’s reporting on insurer financial strength?
The Great Baltimore Fire of 1904
The Cuban Missile Crisis of 1962
The Hartford Circus Fire of 1944
The MGM Grand Hotel Fire of 1980

Answer explanation

When large-scale catastrophes occur, systemic weaknesses become glaringly apparent. Alfred Best performed an essential service by reporting on the ability (or inability) of insurers to cover the losses from the Baltimore Fire of 1904.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When did AM Best issue its first credit ratings?
1950
1905
2000
1976

Answer explanation

AM Best was the first company to offer credit ratings for insurance companies, which allowed policyholders to make informed decisions about which companies to do business with. In 1905, the New York Department of Insurance asked Alfred Best to develop a list numerically indicating the reliability of certain unlicensed insurance concerns. These were the first published numeric credit ratings.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How did the company’s rating system differ from its competitors?
It is an alphabetical rating system
It is both qualitative and quantitative
It is focused exclusively on the global insurance industry
It is based on insurer statutory filing data

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In 1910, Alfred Best purchased a farm in Peru, Vermont, and used it for company retreats. What was the name of the farm?
Best's Barnyard
Garrett's Garage
Hapgood's Homestead
Arcady Farm

Answer explanation

Arcady Farm was a pleasant retreat where Alfred and his family could enjoy life away from the pace and pressures of the city. Company retreats at the farm mixed business with relaxation and provided the opportunity for personnel to interact in a less formal environment.

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?

Discover more resources for Professional Development