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

2. After graduating from business school, Warren returned to Omaha to work for:
(a) Omaha National Bank.
(b) Buffett-Falk & Company.
(c) Proctor & Gamble.
(d) Citi Bank.

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

4. Buffett would only consider investing in social projects if:
(a) Susie approved them.
(b) he personally approved them.
(c) he deemed it as a good cause.
(d) they showed a rate of return.

5. Hathaway was run by:
(a) Seabury Stanton.
(b) Samuel Stater.
(c) Olive Chace.
(d) Charlie Munger.

Short Answer Questions

1. His best childhood friend was___________.

2. In 1964, Stanton:

3. What event occurred in August 1967?

4. What did Warren vow after his involvement with Dempster?

5. Which is not one of the three stocks that Buffett heavily invested in the 1960?

Short Essay Questions

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

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

3. Why did Buffett want to study with Graham?

4. How did Buffett learn about GEICO?

5. Why were so many investors impressed by Warren?

6. When Buffett was interested in a company, he studied the financial data. For companies like Berkshire and American Express, what else did he do?

7. What were Buffett's plans for Berkshire?

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

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

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

(see the answer keys)

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