Buffett: The Making of an American Capitalist Test | Mid-Book Test - Easy

Roger Lowenstein
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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. The Buffett children describe their mother as:
(a) lenient.
(b) moody.
(c) friendly.
(d) outgoing.

2. What event occurred in August 1967?
(a) Buffet's partnership eperienced its first loss.
(b) new legislated limited partnership.
(c) the market crashed.
(d) Congressional hearning into the rampant growth of mutual funds.

3. What did Warren always wear in high school?
(a) dress shoes.
(b) sneakers.
(c) a Nebraska sweat shirt.
(d) a business cap.

4. Graham and Dodds did work in:
(a) commodity futures.
(b) business management.
(c) stock valuation.
(d) selling and marketing.

5. Following Buffett's advice, the Post:
(a) attracted new readers.
(b) lost money.
(c) expanded its operations.
(d) greatly increased its return on equity.

6. What course did Warren teach at the University of Omaha?
(a) Introduction to Economics.
(b) Managerial Economics.
(c) Introduction to Finance.
(d) Investment Principles.

7. Buffett communicated with partners:
(a) on the phone.
(b) by personal meetings with them.
(c) through letters.
(d) holding monthly meetings.

8. Throughout his years in school, Buffett said he would live in:
(a) New York.
(b) Ohaha.
(c) Los Angeles.
(d) Washington.

9. Warren's father worked as a ___________.
(a) securities salesman.
(b) farmer.
(c) grocer.
(d) factory worker.

10. Why did the Buffetts move to New York in 1954?
(a) Warren wanted a wider customer base.
(b) Warren wanted to find a job.
(c) Buffett wanted to work at the New York Stock Exchange.
(d) Buffett accepted a job at Graham-Newman.

11. The Post company controlled all but the following:
(a) Washington Monthly.
(b) Washington Post.
(c) Newsweek.
(d) Florida television stations.

12. What did Buffett advise his partners of in May 1967?
(a) he was liquidating Buffett Partnership.
(b) he was turning Buffett Partnership into a Performance Fund.
(c) the partnership would go on without him.
(d) Buffett Partnership was facing huge losses.

13. Buffett's goal, as stated to his partners, was to:
(a) purchase blue chip stocks.
(b) beat the Dow by an average of ten points per year.
(c) make them wealthy.
(d) achieve a 10% rate of return.

14. Buffett Partnership was Berkshire's biggest stockholder by:
(a) 1963.
(b) 1962.
(c) 1965.
(d) 1966.

15. The salad oil owned by an American Express subsidiary was:
(a) stolen.
(b) high quality salad oil.
(c) mostly seawater.
(d) oversold.

Short Answer Questions

1. Warren increased his paper route by:

2. What is the main qualification for buying a stock?

3. What did the Evening News do that resulted in an anti-trust suit?

4. Buffett became a director on the board of the Post in:

5. Buffett gained total control of Berkshire in:

(see the answer keys)

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