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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. Katherine Graham was the owner of the:

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

3. What bad investment did Warren make at this time?

4. In 1964, Stanton:

5. Buffett began buying Berkshire-Hathaway stock in:

Short Essay Questions

1. What were Warren's views about attending college?

2. What did Buffett do from 1969 - 1973?

3. How did Buffett's partnership differ from other mutual funds?

4. What were Buffett's views on religion?

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

6. How did Buffett know of Ben Graham at Columbia?

7. What did Warren do after business school?

8. How did Buffett communicate with his partners?

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

10. What did Buffett conclude about American Express

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

What is an investment partnership? What were the terms of Buffett's partnership? What was his strong point in his sales pitches? Would you have felt comfortable with the terms?

Essay Topic 2

What was Buffett's strategy for buying companies? How did he finance them? Did he take an active role in their management or did he sit in the background?

Essay Topic 3

Discuss the mergers and acquisitions craze of the 1980s. What are Buffett's views on hostile takeovers? What were his views on corporate raiders and their effect on companies and society?

(see the answer keys)

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