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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What was important to the young Warren?
(a) books.
(b) games.
(c) schools.
(d) making money and watching it grow.

2. Warren bought all but the following through Berkshire:
(a) Sun Newspaper.
(b) Illinois National Bank and Trust.
(c) National Indemnity Company.
(d) American Express.

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

4. What course did Warren teach at the University of Omaha?
(a) Investment Principles.
(b) Managerial Economics.
(c) Introduction to Finance.
(d) Introduction to Economics.

5. Buffett would only consider investing in social projects if:
(a) Susie approved them.
(b) he personally approved them.
(c) they showed a rate of return.
(d) he deemed it as a good cause.

6. The SEC inquiry was concerned with:
(a) how Buffet made his money.
(b) the effect of Buffet and Munger working together.
(c) Blue Chip manipulation of Wesco stock.
(d) the effect of a Berkshire-Diversified merger.

7. The Buffett children describe their mother as:
(a) lenient.
(b) moody.
(c) friendly.
(d) outgoing.

8. The Buffett family owned and operated a ___________.
(a) grocery store.
(b) general store.
(c) cattle ranch.
(d) corn farm.

9. Warren married Susie Thompson in:
(a) January 1951.
(b) June 1955.
(c) September 1953.
(d) April, 1952.

10. What company did Buffett say he would hold for the rest of his life?
(a) Diversified.
(b) Berkshire.
(c) See's Candy.
(d) Wesco.

11. What was not a characteristic of a performance fund?
(a) moving in and out of stocks.
(b) sustained long term growth.
(c) short term perspective.
(d) making fast money.

12. As a child, Warren was interested in:
(a) baseball.
(b) model cars.
(c) games.
(d) the stock market.

13. Buffett gained total control of Berkshire in:
(a) July 1963.
(b) June 1964.
(c) May 1965.
(d) September 1964.

14. What step did Buffett take in early 1966?
(a) closed the partnership to new accounts.
(b) hired new analyst.
(c) began a new fund.
(d) quit the market.

15. His best childhood friend was___________.
(a) George Sklenicka.
(b) Bill Gates.
(c) John Buffet.
(d) Bob Russell.

Short Answer Questions

1. How many partnerships was Warren running by the end of his first year?

2. While living in Washington DC, Warren worked as a:

3. During this time, Susie:

4. What did Buffett say he was putting his money into?

5. The salad oil owned by an American Express subsidiary was:

(see the answer keys)

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