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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 term is used to denote risk?

2. By the 1990s, Buffett was worth:

3. Buffett's annual shareholders meetings differed from those of other companies because:

4. Warren's philosophy for purchasing stocks included all but:

5. Buffett's new worth was approximately:

Short Essay Questions

1. Salomon became the object of an SEC and Justice Department investigation because of their bond trading. What did they do?

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

3. How many people are employed at Buffett's world headquarters?

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

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

6. How did Buffett learn about the Nebraska Furniture Mart?

7. What stock did Buffett begin purchasing in 1988?

8. What are referred to as Buffett's sweetheart deals?

9. Buffett was interested in buying media companies in the 1980s. Why did he invest in Cap Cities through Berkshire?

10. What did Buffett do with his textile mills?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

What was the basis of the Efficient Market Theory? Why did Buffett disagree with it? What were his reasons? On what did he base his investment decision?

Essay Topic 2

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 3

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?

(see the answer keys)

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