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This quiz consists of 5 multiple choice and 5 short answer questions through Mergers and Acquisitions.

Multiple Choice Questions

1. Buffett thought that any CEO who set earning targets and forecasts might also take ______ with accounting measures.
(a) Risks.
(b) Pride.
(c) Less than legal strategies.
(d) Carelessness.

2. Buffett noted that a CEO had no direct ______ or clear standards of performance, making even under performing ones able to continue working.
(a) Authority.
(b) Workers.
(c) Responsibilities.
(d) Supervisor.

3. What was the piece of advice that Buffett took to heart from the athlete?
(a) Practice makes permanent.
(b) Practice makes permitted.
(c) Practice makes perfect.
(d) Perfect makes practice.

4. Alternative investments were considered for __________ high quality investments when a preferable business could not be located.
(a) Short-term.
(b) Long-term.
(c) Future.
(d) Basic.

5. _________ were often unwilling to discuss the business issues during meetings.
(a) The salespeople.
(b) Shareholders.
(c) The board members.
(d) Managers.

Short Answer Questions

1. How many shareholders did Munger and Buffett pledge to provide fair and simultaneous reporting to?

2. All acquisition considerations were paid for in ________, according to the book's information.

3. Buffett claimed in the book that most Berkshire shareholders will hang onto their shares for ____________.

4. Most Berkshire _______ had their net worth invested primarily in the company.

5. LBO operators benefitted from the use of ________ to reshuffle business, risk little of their own money to gain high fees, etc.

(see the answer key)

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