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

Multiple Choice Questions

1. Below investment grade bonds are generally called ________, since they are able to be transformed.
(a) Fallen angels.
(b) Demons.
(c) Junky bonds.
(d) Caterpillars.

2. The partners were interested firms that are adapted to ______ times that could readily increase prices and scale up to a large volume with more capital.
(a) Recession.
(b) Aggressive.
(c) Inflationary.
(d) Bloated.

3. The partners were also interested in firms that had extraordinary ________ talent exhibiting skillful executive achievement.
(a) Prices.
(b) Jumps.
(c) Management.
(d) Reports.

4. What were the name of the bonds that Buffett seeks to promote through Berkshire?
(a) Junk.
(b) Angel.
(c) None.
(d) Zero-coupon.

5. Preferred stock is considered with _________ that Munger and Buffett like, admire, and trust.
(a) Values.
(b) Products.
(c) Management.
(d) History.

Short Answer Questions

1. The long-term economic goal was to maximize per-share average annual rate of gain at ______% of the intrinsic business value.

2. Buffett's criteria measured _________ expectations of the highest after-tax returns to maximize net worth in the long run.

3. _________ were often unwilling to discuss the business issues during meetings.

4. What did Berkshire do in the case of the zero-coupon bonds? They deducted ______ with no cash paid out.

5. What kind of pro told Buffett the piece of information that helped to guide them on the field?

(see the answer key)

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