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This quiz consists of 5 multiple choice and 5 short answer questions through Howie Buffett's Corn.

Multiple Choice Questions

1. As a result of the stock market crash in October 1985, Berkshire:
(a) lost ten percent of its value.
(b) increased in value.
(c) was insolvent.
(d) lost one quarter of its value.

2. The SEC began an investigation of Buffett and Munger when they:
(a) bought Diversified.
(b) filed to merge Diversified into Berkshire.
(c) bought See's Candy Shops.
(d) bought blue Chip.

3. Which of the following was not some thing that Howard Buffett was against?
(a) European grain exports.
(b) protecting US savings bond owners against inflation.
(c) the Bretton Woods monetary scheme.
(d) school lunch programs.

4. What did Buffett do that was different with Hochschild and Associated Cotton?
(a) purchased liquid sahres.
(b) traded one business for another.
(c) bought the entire businesses.
(d) purchased small amounts.

5. What did Buffett consider to be the most important factor in evaluating a company?
(a) total profit.
(b) profit as a percentage of capital invested.
(c) total sales.
(d) total costs.

Short Answer Questions

1. What did Warren's father tell him when he returned from running away?

2. Regarding his textile mills, in the early 1980s, Buffett:

3. Warren married Susie Thompson in:

4. These kinds of funds in this era were characterized as:

5. In Warren's view, the managers of other people's money:

(see the answer key)

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