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. What company did Buffett say he would hold for the rest of his life?
(a) Berkshire.
(b) See's Candy.
(c) Diversified.
(d) Wesco.

2. What did Warren vow after his involvement with Dempster?
(a) he liked the experience.
(b) he wanted to start a new company.
(c) he wanted to be a liquidator.
(d) he would never lay off people again.

3. The SEC began an investigation of Buffett and Munger when they:
(a) bought blue Chip.
(b) bought Diversified.
(c) filed to merge Diversified into Berkshire.
(d) bought See's Candy Shops.

4. What was one of Buffett's first possessions that had to do with money?
(a) a piggy bank.
(b) a money clip.
(c) a nickel-coated money changer.
(d) a wallet.

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

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

7. Every year, Warren and Susie would:
(a) travel to Europe.
(b) travel to New York.
(c) shop in Beverly Hills.
(d) host a dinner for the investors.

8. While living in Washington DC, Warren worked as a:
(a) drug store soda fountain.
(b) carrier for the Washington Post.
(c) congressional aide.
(d) congressional page.

9. Buffett feared being known as:
(a) a liquidator.
(b) a loser.
(c) unethical.
(d) wealthy.

10. What was the most important aspect of American Express?
(a) its history.
(b) its name.
(c) its assets.
(d) its dividends.

11. Which is not one of the three stocks that Buffett heavily invested in the 1960?
(a) Disney.
(b) Berkshire-Hawthaway.
(c) TWA.
(d) American Express.

12. Buffett became a director on the board of the Post in:
(a) 1980.
(b) 1976.
(c) 1970.
(d) 1974.

13. In their senior year, Warren and Danley opened a:
(a) pinball machine business.
(b) magazine clipping service.
(c) stock quote business.
(d) courier service.

14. The SEC inquiry was concerned with:
(a) how Buffet made his money.
(b) Blue Chip manipulation of Wesco stock.
(c) the effect of Buffet and Munger working together.
(d) the effect of a Berkshire-Diversified merger.

15. Hathaway was run by:
(a) Charlie Munger.
(b) Seabury Stanton.
(c) Samuel Stater.
(d) Olive Chace.

Short Answer Questions

1. The Buffett children describe their mother as:

2. What bad investment did Warren make at this time?

3. What problems did Buffett have making investments in the mid-1960s?

4. What newspaper stock did Buffett buy heavily?

5. What company did the partnership buy that Warren became chairman of?

(see the answer keys)

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