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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. What term can be used to characterize Warren at this age?
(a) ignorant.
(b) unrealistic.
(c) self-confident.
(d) cocky.

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

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

4. What magazine did Buffett first invest in?
(a) Washington Monthly.
(b) People.
(c) Look.
(d) Atlantic Monthly.

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

Short Answer Questions

1. After graduating from business school, Warren returned to Omaha to work for:

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

3. While living in Washington DC, Warren worked as a:

4. What did the Courier-Star accuse the Evening News of?

5. What was not a characteristic of a performance fund?

Short Essay Questions

1. When Buffett was interested in a company, he studied the financial data. For companies like Berkshire and American Express, what else did he do?

2. Why did Buffett want to study with Graham?

3. What was Buffett's advice to Katherine Graham and the Washington Post?

4. What brought on the SEC investigation of Buffett and Munger?

5. What were Warren's views about attending college?

6. How did Buffett's partnership do in their first five years?

7. What was Warren interested in as a child?

8. What did Buffett do from 1969 - 1973?

9. What did Warren do after business school?

10. How did Warren handle investments for others? What were his terms?

(see the answer keys)

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