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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 event occurred in August 1967?
(a) Buffet's partnership eperienced its first loss.
(b) Congressional hearning into the rampant growth of mutual funds.
(c) new legislated limited partnership.
(d) the market crashed.

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

3. As Buffett's income and wealth grew, he:
(a) he traveled more.
(b) he collected more material things ostentaciously.
(c) his spending habits changed.
(d) basically maintained his same lifestyle.

4. What was the result of Warren's first year of partnership?
(a) they underperformed.
(b) the results were inconclusive.
(c) they outperformed the Dow.
(d) they matched the Dow in performance.

5. What did Warren do with some of the profits from his paper route?
(a) bought forty acres of Nebraska farmland.
(b) bought a car.
(c) bought AT&T stock.
(d) vacationed in Miami.

Short Answer Questions

1. As a child, Warren Buffett had a 'thirst' for __________.

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

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

4. Buffett began buying Berkshire-Hathaway stock in:

5. Susie did all but:

Short Essay Questions

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

2. How did Buffett help GEICO?

3. What was Berkshire-Hathaway?

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

5. What did Warren do after business school?

6. Where was Warren Buffett born and raised?

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

8. How did Buffett's partnership do in their first five years?

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

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

(see the answer keys)

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