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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 kind of stocks were most popular at this time?
(a) small companies.
(b) huge conglomerates.
(c) blue chip.
(d) high tech.

2. What did Warren vow after his involvement with Dempster?
(a) he wanted to be a liquidator.
(b) he liked the experience.
(c) he would never lay off people again.
(d) he wanted to start a new company.

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

4. What did Buffett recommend that the Post do?
(a) buy back its own stock.
(b) expand television operations.
(c) expand magazine operations.
(d) expand overseas.

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

Short Answer Questions

1. At the 1968 meeting of his friends, who was not invited?

2. Warren increased his paper route by:

3. Throughout his years in school, Buffett said he would live in:

4. What was one of Buffett's first possessions that had to do with money?

5. After graduating from business school, Warren returned to Omaha to work for:

Short Essay Questions

1. What were Buffett's views on religion?

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

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

4. What did Buffett feel was most important in the evaluation of a company?

5. How did Buffett help GEICO?

6. What does Buffett worry about at the age of twenty six?

7. What was Warren interested in as a child?

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

9. What did Warren do at the age of six when the family vacationed at Lake Okoboji?

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

(see the answer keys)

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