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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. What did Warren's father tell him when he returned from running away?

2. In what simple way did Buffett find that people were still using their American Express cards?

3. Warren worked on all of the following during this period:

4. Buffett began buying Berkshire-Hathaway stock in:

5. Graham and Dodds did work in:

Short Essay Questions

1. Why were so many investors impressed by Warren?

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

3. What were Buffett's views on religion?

4. 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?

5. What did Berkshire-Hathaway produce?

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

7. What brought on the SEC investigation of Buffett and Munger?

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

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

10. In evaluating companies, Buffett looked at whether they were cash consuming or cash generating. What is the difference?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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 2

Buffett was concerned with the continuity of Berkshire after his death. What provisions did he make for the company? Who, if anyone, would take over? Why did he assure his investors that there wouldn't be any significant stock sales?

Essay Topic 3

What do you think of Warren Buffett as a person, given what you have learned during the unit on this book? Do you think he is basically a good person? Why or why not? What aspects of Buffett don't you like?

(see the answer keys)

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