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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. Warren married Susie Thompson in:

2. Buffett Partnership was Berkshire's biggest stockholder by:

3. Buffett would only consider investing in social projects if:

4. Susie did all but:

5. What step did Buffett take in early 1966?

Short Essay Questions

1. Why did Buffett close the partnership to new accounts in 1966?

2. What were Buffett's views on religion?

3. How did Buffett help GEICO?

4. What was Warren interested in as a child?

5. 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?

6. What did Buffett conclude about American Express

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

8. How did Warren handle investments for others? What were his terms?

9. What did Berkshire-Hathaway produce?

10. What was happening with other mutual funds by early 1967?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

How did Buffett prosper during the insurance market problems in the 1990s? What did he do that others didn't? Explain the concept of float and how it applied to insurance companies in your answer.

Essay Topic 2

What was Buffett's view on giving to social programs, particularly during the early 1970? Give some examples. Do you agree with his reasoning? Why or why not?

Essay Topic 3

What is the importance of return on equity? Why did Buffett emphasize this? What happened when the Washington Post followed his advice?

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