Geico Assessment Test Geico Knowledge 2 — Questions and Answers
Question 1: What does the GEICO acronym stand for?
- Government Employees Insurance Company (Correct answer)
- General Employees Insurance Corporation
- Global Enterprise Insurance Company
- Guaranteed Equity Insurance Coverage
Correct answer: Government Employees Insurance Company
GEICO originally stood for Government Employees Insurance Company, founded to serve federal employees and military personnel.
Question 2: GEICO is a wholly owned subsidiary of which parent company?
- Progressive Corporation
- Berkshire Hathaway (Correct answer)
- Allstate
- State Farm
Correct answer: Berkshire Hathaway
GEICO has been a wholly owned subsidiary of Warren Buffett's Berkshire Hathaway since 1996.
Question 3: GEICO's primary business model emphasizes selling insurance through which channel?
- Independent agents only
- Direct-to-consumer (phone and online) (Correct answer)
- Bank branches
- Door-to-door sales
Correct answer: Direct-to-consumer (phone and online)
GEICO pioneered the direct-to-consumer model, selling policies directly via phone and online to lower costs.
Question 4: Which type of insurance is GEICO most widely known for?
- Life insurance
- Auto insurance (Correct answer)
- Health insurance
- Crop insurance
Correct answer: Auto insurance
GEICO is best known as one of the largest auto insurance providers in the United States.
Question 5: What is the name of GEICO's well-known animated mascot?
- The GEICO Gecko (Correct answer)
- The Caveman
- Maxwell the Pig
- Flo
Correct answer: The GEICO Gecko
The GEICO Gecko is the company's signature animated mascot, introduced in 1999.
Question 6: GEICO's famous slogan claims 15 minutes could save you what?
- 15% or more on car insurance (Correct answer)
- A free gift card
- 100% on your premium
- A new car
Correct answer: 15% or more on car insurance
The slogan is '15 minutes could save you 15% or more on car insurance.'
Question 7: In which decade was GEICO founded?
- 1910s
- 1930s (Correct answer)
- 1950s
- 1970s
Correct answer: 1930s
GEICO was founded in 1936 by Leo and Lillian Goodwin.
Geico Assessment Test Geico Knowledge 2
What does the GEICO acronym stand for?