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

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

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

4. What did Buffett recommend that the Post do?

5. Buffett began buying Berkshire-Hathaway stock in:

Short Essay Questions

1. How did Buffett learn about GEICO?

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

3. What were Buffett's views on religion?

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

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

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

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

8. What did twelve-year-old Warren have to say about money when asked why it was so important to him?

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

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

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

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 characteristics did Warren Buffett have as a child that exhibited his natural abilities for business? Was he preoccupied with money? Why or why not?

(see the answer keys)

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