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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 company did Buffett say he would hold for the rest of his life?

2. What is the main qualification for buying a stock?

3. Warren's father worked as a ___________.

4. As Buffett's income and wealth grew, he:

5. As a child, Warren was interested in:

Short Essay Questions

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

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

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

4. What did Buffett conclude about American Express

5. What was Buffett's advice to Katherine Graham and the Washington Post?

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

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

8. How did Buffett help GEICO?

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

10. Why were so many investors impressed by Warren?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Is Buffett's home life typical of the lives of other American families? Why or why not? Did Buffett's home life turn out the way he wanted it to?

Essay Topic 2

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?

Essay Topic 3

Explain Buffett's attitude toward his wealth? Why was he so secretive? Why did he always tell his children that they would never have any of his money? How would you characterize the Buffett home?

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