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

2. The Post company controlled all but the following:
(a) Florida television stations.
(b) Newsweek.
(c) Washington Monthly.
(d) Washington Post.

3. While reaching Ben Graham, Warren learned about a company called:
(a) GEICO.
(b) State Farm Insurance.
(c) AT&T.
(d) Kimberly-Clark.

4. Which of the following was not one of the three companies that Buffett used to purchase stock and other companies?
(a) Diversified Retailing.
(b) American Express.
(c) Blue Chip Stamps.
(d) Berkshire Hathaway.

5. Warren did not want to attend college because:
(a) he wanted to work.
(b) he didn't feel he could learn anything.
(c) he wanted to travel.
(d) he wanted to get married.

Short Answer Questions

1. Studying under Graham allowed Warren to:

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

3. Buffett communicated with partners:

4. What problems did Buffett have making investments in the mid-1960s?

5. What industry did Buffett become interested in at this time?

Short Essay Questions

1. What was happening with other mutual funds by early 1967?

2. What were Warren's views about attending college?

3. What did Buffett feel was most important in the evaluation of a company?

4. What was the outcome of the anti-trust suit?

5. What was Berkshire-Hathaway?

6. What did Buffett do from 1969 - 1973?

7. What is the difference between the quantitative appeal of Berkshire and the qualitative appeal of American Express?

8. What brought on the SEC investigation of Buffett and Munger?

9. What were Buffett's views on religion?

10. What did Berkshire-Hathaway produce?

(see the answer keys)

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