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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. These kinds of funds in this era were characterized as:
(a) Go Go.
(b) bear market.
(c) bull market.
(d) irresponsible trading.

2. During this time, Susie:
(a) separated from Warren.
(b) became a singer.
(c) returned to school.
(d) began making her own investments.

3. Ben Graham's specialty was:
(a) business management strategy.
(b) stock market.
(c) Greek drama.
(d) Classical Latin.

4. Warren handled his investments with people:
(a) by following their instructions.
(b) on an individual basis.
(c) by forming partnerships.
(d) by keeping them informned.

5. Buffett communicated with partners:
(a) by personal meetings with them.
(b) through letters.
(c) holding monthly meetings.
(d) on the phone.

Short Answer Questions

1. Why did Warren complete a Dale Carnegie course after completing business school?

2. Buffett began buying stocks:

3. Warren did not want to attend college because:

4. In what simple way did Buffett find that people were still using their American Express cards?

5. What company did the partnership buy that Warren became chairman of?

Short Essay Questions

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

2. What did Buffett conclude about American Express

3. How did Buffett's partnership differ from other mutual funds?

4. 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?

5. What was Warren interested in as a child?

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

7. How did Buffett help GEICO?

8. How did Buffett become active in stock trading again?

9. What was Berkshire-Hathaway?

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

(see the answer keys)

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