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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 worked on all of the following during this period:

2. Warren educated himself in all but the following ways:

3. What was the most important aspect of American Express?

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

5. At the 1968 meeting of his friends, who was not invited?

Short Essay Questions

1. Why did Buffett want to study with Graham?

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

3. How did Buffett's partnership do in their first five years?

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

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

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

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

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

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

10. How did Buffett communicate with his partners?

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

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

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?

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