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This quiz consists of 5 multiple choice and 5 short answer questions through Accounting and Valuation.

Multiple Choice Questions

1. Buffett and Munger believed that investors should pay attention to business results, not __________.
(a) Market prices.
(b) Other shareholders.
(c) Their reports.
(d) Market fluctuations.

2. Buffett's wealth was solely in _________ stock, investing and reinvesting dividends on its proportional increase per share market value over time.
(a) Coca-Cola.
(b) Wells Fargo.
(c) Berkshire.
(d) GEICO.

3. Buffett proposed that earnings should be retained to the extent each retained dollar creates at least ________ of market value for owners.
(a) Ten dollars.
(b) One dollar.
(c) Twenty dollars.
(d) Five dollars.

4. The partners considered a lesser interest if the ________ price was less than what it would be for 100%.
(a) Pro-rata.
(b) Pro-management.
(c) Pro-rate.
(d) Pro-biotic.

5. Buffett and Munger continue to offer _______ for value trade in the acquisition process, as it seems fair to all parties.
(a) Truth.
(b) Benefit.
(c) Value.
(d) Choice.

Short Answer Questions

1. What was NOT one of the three tax-free gifting tactics that Buffett suggested to shareholders?

2. What company did Buffett acquire in 1964, which he eventually grew into a large holding company?

3. Who did Buffett authorize to use the essays in the book to popularize the teachings and Buffett's own implementation of the teachings?

4. Buffett disliked _________ because of its leverage, according to the book.

5. Buffett is proud that ____% of the shares outstanding at the end of each year were held by the same shareholders.

(see the answer key)

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