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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. Buffett's annual shareholders meetings differed from those of other companies because:
(a) he refused to hold shareholder meetings.
(b) his were well attended.
(c) he wouldn't attend his.
(d) his were elegantly catered.

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

3. Buffett wanted his money to be used for:
(a) his children.
(b) whatever Susie wanted.
(c) whatever he wanted.
(d) social good.

4. The Nebraska Furniture Mart was owned by:
(a) Katherine Graham.
(b) Isadore Blumkin.
(c) Seabury Stanton.
(d) Rose Blumkin.

5. Soon after Buffett arrives in New York, he learns that:
(a) the Treasury has banned Salomon from its auctions.
(b) the government dropped its investigation.
(c) he is voted off the board.
(d) the situation is more serious than he thought.

Short Answer Questions

1. Mrs. B began in the furniture business by:

2. Which of the following companies was the object of a hostile takeover in the 1980s?

3. Daughter Susie moved back to Omaha when:

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

5. When Buffett is described as a gorilla, it refers to:

Short Essay Questions

1. What was the newer Efficient Market Theory?

2. What stock did Buffett begin purchasing in 1988?

3. What were Buffett's views on hostile takeovers?

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

5. What did Buffett plan to do with his wealth when he died?

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

7. Buffett's career was based on the Graham and Dodds theory of investing. What are the basis of Buffet's beliefs based on the teachings of Graham and Dodds?

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

9. What was one of Buffett's biggest fears in 1980?

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

(see the answer keys)

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