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 is the main qualification for buying a stock?
(a) past performance.
(b) bargain price.
(c) overall picture.
(d) the potential.

2. Warren worked on all of the following during this period:
(a) Buffett-Falk.
(b) the family grocery business.
(c) teaching in night school.
(d) a Dale Carnegie course.

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

4. What did the young Warren trust?
(a) his grandfather.
(b) his sister.
(c) numbers.
(d) religion.

5. What newspaper stock did Buffett buy heavily?
(a) Miami Herald.
(b) Washington Post.
(c) Chicago Sun Times.
(d) New York Times.

6. Warren educated himself in all but the following ways:
(a) attending night school.
(b) running his paper route.
(c) studying actuarial tables.
(d) reading business books.

7. Which of the following was not some thing that Howard Buffett was against?
(a) protecting US savings bond owners against inflation.
(b) the Bretton Woods monetary scheme.
(c) European grain exports.
(d) school lunch programs.

8. While reaching Ben Graham, Warren learned about a company called:
(a) State Farm Insurance.
(b) AT&T.
(c) GEICO.
(d) Kimberly-Clark.

9. What is the value of diversification?
(a) balance.
(b) prestige.
(c) ease of management.
(d) the names of the stocks.

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

11. Katherine Graham was the owner of the:
(a) Washington Post.
(b) New York Times.
(c) Los Angeles Times.
(d) Washington Star.

12. What step did Buffett take in early 1966?
(a) closed the partnership to new accounts.
(b) quit the market.
(c) hired new analyst.
(d) began a new fund.

13. Warren married Susie Thompson in:
(a) April, 1952.
(b) September 1953.
(c) January 1951.
(d) June 1955.

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

15. What did Buffett worry about at the age of twenty six when he had little money?
(a) on an individual basis.
(b) how to amass a fortune.
(c) where he would retire to.
(d) how much money to leave to his children and what to do with the money.

Short Answer Questions

1. In early 1967, Buffett advised his partners that:

2. What was Warren's major passion outside of work?

3. Book value is:

4. In what simple way did Buffett find that people were still using their American Express cards?

5. As Buffett's income and wealth grew, he:

(see the answer keys)

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