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

2. What was one of the stocks that Warren bought and promoted while at Buffett-Falk?
(a) Kimberly Clark.
(b) Standard Oil.
(c) GEICO.
(d) Proctor & Gamble.

3. Berkshire and Hathaway merged in:
(a) 1960.
(b) 1950.
(c) 1955.
(d) 1958.

4. Warren attended graduate school at:
(a) University of Chicago.
(b) Columbia.
(c) Harvard.
(d) Princeton.

5. What newspaper stock did Buffett buy heavily?
(a) Washington Post.
(b) Chicago Sun Times.
(c) New York Times.
(d) Miami Herald.

Short Answer Questions

1. Buffett would only consider investing in social projects if:

2. According to the terms offered to the Davises, what percent of the profits would Warren receive?

3. Katherine Graham was the owner of the:

4. Warren's father worked as a ___________.

5. While reaching Ben Graham, Warren learned about a company called:

Short Essay Questions

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

2. What was Berkshire-Hathaway?

3. What were Buffett's plans for Berkshire?

4. How did Buffett learn about GEICO?

5. Why did Buffett want to study with Graham?

6. What kind of business did Warren have in Washington DC in high school?

7. In evaluating companies, Buffett looked at whether they were cash consuming or cash generating. What is the difference?

8. Munger and Buffett purchased the Buffalo Evening Press and became involved in an anti-trust suit. What brought on the anti-trust suit by the rival Courier-News?

9. What did Buffett conclude about American Express

10. What were Warren's classmates' views of him?

(see the answer keys)

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