The Essays of Warren Buffett: Lessons for Corporate America Test | Mid-Book Test - Medium

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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. Most Berkshire _______ had their net worth invested primarily in the company.
(a) Workers.
(b) Directors.
(c) Shareholders.
(d) Secretaries.

2. Buffett's ______ years of experience cause him to think that efficient times in the market do not constitute an efficient market.
(a) 63.
(b) 30.
(c) 50.
(d) 15.

3. Buffett claimed in the book that most Berkshire shareholders will hang onto their shares for ____________.
(a) A few years.
(b) The time before retirement.
(c) Friends and family.
(d) Life.

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

5. The board was ultimately responsible for any _______'s performance in the companies they held.
(a) Shareholder.
(b) Market.
(c) Worker.
(d) CEO.

Short Answer Questions

1. Keynes stated: "The right method of investment is to put fairly large sums of money into enterprises which one thinks one knows something about and in the ________ of which one thoroughly believes."

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

3. Ben Graham personified the market with the name ___________, to give it a more human side.

4. Buffett and Munger saw themselves as general _______ responsible to other shareholders.

5. Buffett and Munger invested based on company operating results and not on ____________.

Short Essay Questions

1. What happened as a result of Buffett and Munger buying their holding companies at a fair rate or buying lesser interest in at the pro-rata price?

2. How did Buffett's criteria for buying companies and maintaining holdings help to maximize net worth in the long run?

3. What was the concept of fallen angels, according to Buffett's lessons about investing?

4. How did Buffett begin to promote the zero-coupon bonds from Berkshire, though it was complicated to do so?

5. What were two of the benefits of zero-coupon bonds, as listed by Berkshire in their promotions?

6. What was the purpose of the fourteen owner-related business principles that Buffett lists in the book?

7. What did Buffett and Munger commit to providing to their 300,000 shareholders?

8. What did Buffett and Munger prefer to do when they invested in a company?

9. What is the content of this book often used for, according to the author?

10. What did Buffett and Munger invest based upon, instead of price quotes?

(see the answer keys)

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