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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's philosophy for purchasing stocks included all but:

2. Soon after Buffett arrives in New York, he learns that:

3. Mrs. B began in the furniture business by:

4. Buffett's views on hostile takeovers included all but:

5. The Nebraska Furniture Mart was owned by:

Short Essay Questions

1. What was one of the first things Buffett did at Salomon?

2. What were Buffett's views on hostile takeovers?

3. What was the outcome of the government case against Salomon?

4. Why did Buiffett invest in Salomon?

5. What did Susie do at the age of forty five?

6. What was one of Buffett's biggest fears in 1980?

7. Buffett's career was based on the Graham and Dodds theory of investing. What are the basis of Buffet's beliefs based on the teachings of Graham and Dodds?

8. What did Buffett do with his textile mills?

9. What was Buffett's attitude about sharing his wealth with his children?

10. What did Buffett plan to do with his wealth when he died?

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

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 3

What are the points mentioned in Buffett's guide to selecting stocks? What kind of business did Buffett prefer? Why?

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