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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 information did Jon Gutfruend withhold?
(a) Salomon bond revenues.
(b) the level of Salomon bonuses.
(c) that a Salomon trader made a false bid.
(d) Salomon trading strategy.

2. Capital Cities was a:
(a) heavy equipment company.
(b) real estate company.
(c) clothing company.
(d) big cable, broadcasting and publishing company.

3. The Treasure sells bonds to:
(a) the public.
(b) the highest bidder.
(c) banks only.
(d) the Fed.

4. How many people worked at Berkshire's world headquarters:
(a) fifty.
(b) twenty seven.
(c) eleven.
(d) two hundred fifty.

5. What stock did Buffett begin to buy in the fall of 1988?
(a) NBC.
(b) Coca-Cola.
(c) Pepsi-Cola.
(d) ABC.

Short Answer Questions

1. At the end of 1986, the approximate share price of Berkshire was?

2. In the 1980-84 period, insurance companies:

3. Cap Cities would use the money from Berkshire to:

4. Regarding his textile mills, in the early 1980s, Buffett:

5. Buffett's theory of trading is based on:

Short Essay Questions

1. How does Buffett describe the difference between his public and private lives?

2. What was the outcome of the government case against Salomon?

3. What was one of the first things Buffett did at Salomon?

4. Why wasn't Buffett adversely affected by the insurance market problems in 1985?

5. Why did Buiffett invest in Salomon?

6. What did Buffett do with his textile mills?

7. What did Susie do at the age of forty five?

8. What was the newer Efficient Market Theory?

9. What are zero coupon bonds that were being used to finance LBO?

10. How did Buffett learn about the Nebraska Furniture Mart?

(see the answer keys)

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