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This quiz consists of 5 multiple choice and 5 short answer questions through Corporate Finance and Investing.

Multiple Choice Questions

1. _________ percentage ownership was acquired when the market presented opportunities, according to the book.
(a) More.
(b) Lesser.
(c) Beholden.
(d) Greater.

2. The long-term economic goal was to maximize per-share average annual rate of gain at ______% of the intrinsic business value.
(a) 12.
(b) 50.
(c) 15.
(d) 20.

3. Buffett and his partner preferred to buy a company at a fair price at _______% interest.
(a) 99.
(b) 49.
(c) 50.
(d) 100.

4. Substantial equity interest was NOT owned by one of the following companies.
(a) Gillette.
(b) American Express.
(c) Coca-Cola.
(d) GEICO.

5. Munger and Buffett act like ________ when it comes to considering the economic prospects of the businesses they buy.
(a) Business analysts.
(b) Stock traders.
(c) Kids.
(d) Bankers.

Short Answer Questions

1. What was the name of the company that Buffett and Munger bought in 1973?

2. What was NOT one of the elements listed in the elements of arbitrage in the book?

3. Buffett and Munger promised to provide sufficient additional _______ to evaluate true results.

4. In some cases, the benefits of partial ownership earnings may far outweigh the ________ acquisition cost.

5. What was the one thing that Munger and Buffett would not address in their question sessions?

(see the answer key)

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