The Essays of Warren Buffett: Lessons for Corporate America Test | Final 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. Buffett avoids _________ share value to existing shareholders by true value for value merger, using stock as inflated currency.
(a) Diluting.
(b) Stabilizing.
(c) Increasing.
(d) Dispersing.

2. What kind of pro told Buffett the piece of information that helped to guide them on the field?
(a) Football.
(b) Golf.
(c) Baseball.
(d) Soccer.

3. Berkshire management's goal was to acquire and to retain high quality __________.
(a) marketability.
(b) Workers.
(c) Management.
(d) Shareholders.

4. A stock _______ might attractive investors unlike their current investor group which might downgrade the quality of the shares.
(a) Option.
(b) Selloff.
(c) Sale.
(d) Split.

5. Buffett believed that _______ data was important to his and Munger's decision making.
(a) Business.
(b) Stock.
(c) Investor.
(d) Accounting.

Short Answer Questions

1. Buffett and Munger now believed that the substantial economic _________ far exceeded the book value of Berkshire.

2. Buffett and Munger run the business so that all ___________ gain proportionately.

3. The question of an exchange of stock arose in 1983 during the merger of Berkshire and ____________.

4. Whose approach did other companies try to use in order to emulate Berkshire?

5. Buffett admitted that issuing ________ in mergers cost shareholders money, according to the book.

Short Essay Questions

1. What question emerged during the merger between Berkshire and Blue Chip in 1983?

2. Why would a company want to repurchase their own shares, according to Buffett?

3. What was the strategy that Buffett employed in order to acquire businesses, after learning the lesson from the golf pro?

4. What was the benefit of major business activities being grouped together?

5. What did Buffett prefer in trading that allowed for more benefits to long-term owners of stock?

6. How did Buffett avoid diluting share value to existing shareholders?

7. What were the two super contagious diseases that could spread in the investment community?

8. What was the purpose of Buffett and Munger focusing on buying up 100% of a company and the investment must use a lot of capital?

9. What was the first step in the US Steel fictional accounting process?

10. What was the piece of advice from a golf pro that Buffett takes to heart in his acquisition strategy?

(see the answer keys)

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