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This quiz consists of 5 multiple choice and 5 short answer questions through Accounting Policy and Tax Matters.

Multiple Choice Questions

1. What did the zero-coupon bonds not pay to the investor in the end?
(a) Taxes.
(b) Profit.
(c) Current interest.
(d) Locked in interest.

2. What was the total look through earnings of Berkshire in 1990, plus non-dividend operating earnings?
(a) $400M.
(b) $100B.
(c) $590M.
(d) $200B.

3. The purchase of the company listed in #49 was influenced by whose investing principles?
(a) No one's.
(b) Charlie Munger.
(c) Warren Buffett.
(d) Ben Graham.

4. The content of the book was often used as a standard text at the Cardozo School of __________.
(a) Law.
(b) Medicine.
(c) Business.
(d) Engineering.

5. How many shareholders did a business that wanted to be on the NYSE have to have?
(a) 2000.
(b) 10,000.
(c) 5000.
(d) 100.

Short Answer Questions

1. The bonds that Buffett decides to buy in 1989 were thought to be ________, but turn out to be fallen angels.

2. Buffett managed by ________-related business principles, according to the book.

3. Buffett followed the simple rule that the same amount of intrinsic business value must be exchanged with each ________ transaction.

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

5. Buffett preferred to trade a narrow range around _________ business value to favor long-term owners.

(see the answer key)

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