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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

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

2. Throughout his years in school, Buffett said he would live in:

3. What course did Warren teach at the University of Omaha?

4. The Buffett children describe their mother as:

5. The Evening News' rival newspaper was the:

Short Essay Questions

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

2. What kind of business did Warren have in Washington DC in high school?

3. What were Buffett's views on religion?

4. What is the difference between the quantitative appeal of Berkshire and the qualitative appeal of American Express?

5. What does Buffett worry about at the age of twenty six?

6. What was Berkshire-Hathaway?

7. How did Buffett help GEICO?

8. What was the outcome of the anti-trust suit?

9. How did Buffett's partnership differ from other mutual funds?

10. What was happening with other mutual funds by early 1967?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Buffett has been characterized as an accumulator and one who hangs on to things? Comment on this? Do you think it is true? Why or why not?

Essay Topic 2

How did Buffett prosper during the insurance market problems in the 1990s? What did he do that others didn't? Explain the concept of float and how it applied to insurance companies in your answer.

Essay Topic 3

The market of the mid 1960s proved very difficult for Buffett. Why did he have problems? Why did he close the partnership to new members in 1966? Why did he decide to liquidate Buffett Partnership in early 1969?

(see the answer keys)

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