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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. Buffett communicated with partners:

2. Buffett told his partners all but the following:

3. While reaching Ben Graham, Warren learned about a company called:

4. During the early 1960s, the company's stock price:

5. What was important to the young Warren?

Short Essay Questions

1. Why were so many investors impressed by Warren?

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

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

4. What did Buffett invest in after dissolving his partnership in May 1969?

5. What did Buffett do from 1969 - 1973?

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

7. Why did Buffett want to study with Graham?

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

9. What did Warren do after business school?

10. Munger and Buffett purchased the Buffalo Evening Press and became involved in an anti-trust suit. What brought on the anti-trust suit by the rival Courier-News?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Buffett's views and practices rarely coincided with the practices and views on Wall Street. In what areas did they differ and why? Give examples in your answer, and have make sure you mention three separate areas.

Essay Topic 2

Warren established his goal at an early age. What steps did he take to fulfill his objectives? Why did he complete the Dale Carnegie course? What did this give him the confidence to do?

Essay Topic 3

The market of the mid 1960s proved very difficult for Buffett. Why did he have problems? Why did he close the partnership to new members in 1966? Why did he decide to liquidate Buffett Partnership in early 1969?

(see the answer keys)

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