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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. Following Buffett's advice, the Post:
(a) attracted new readers.
(b) greatly increased its return on equity.
(c) lost money.
(d) expanded its operations.

2. Warren's father worked as a ___________.
(a) factory worker.
(b) securities salesman.
(c) grocer.
(d) farmer.

3. In 1964, Stanton:
(a) retired.
(b) old the remaining stock.
(c) filed a lawsuit.
(d) tried to buy back the Berkshire stock.

4. In early 1967, Buffett advised his partners that:
(a) the market was going to crash.
(b) newer nutual funds achieved better returns than his did.
(c) he was changing the scope of the business.
(d) there was too much competition in the market.

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

Short Answer Questions

1. Warren first ran away at the age of:

2. Which of the following was not one of the three companies that Buffett used to purchase stock and other companies?

3. What was the most important aspect of American Express?

4. What did the Evening News do that resulted in an anti-trust suit?

5. The Buffett children describe their mother as:

Short Essay Questions

1. 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?

2. How did Buffett communicate with his partners?

3. How did Buffett help GEICO?

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

5. What did Buffett invest in after dissolving his partnership in May 1969?

6. Why did Buffett close the partnership to new accounts in 1966?

7. What was Berkshire-Hathaway?

8. What were Buffett's views on religion?

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

10. Why were so many investors impressed by Warren?

(see the answer keys)

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