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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 stated that his position with any stock repurchase does not imply acceptance of _______, which he calls extortion.
(a) Blackmail.
(b) Greenmail.
(c) Blue chip mail.
(d) Redmail.

2. Buffett and Munger both opposed any selective ________ and predictive growth rates from the CEOs who reported them.
(a) Strategies.
(b) Purchases.
(c) Truth.
(d) Disclosure.

3. How many owner-related business principles were listed in this section of the book by Buffett?
(a) 7.
(b) 25.
(c) 10.
(d) 14.

4. Confusing ________ requirements were offset by the partners' willingness to report look-through earnings.
(a) Accounting.
(b) Tax.
(c) Stock.
(d) Market.

5. What is NOT one of the companies listed as having the management requirements that Buffett and Munger want to see?
(a) Wal-Mart.
(b) Champion.
(c) Salomon.
(d) USAir.

Short Answer Questions

1. Buffett discussed the popularity of _________ buyouts as they had a number of different benefits to them.

2. If the buyer's stock was sold at less than intrinsic value, he bought with undervalued _________ and would suffer an unequal exchange.

3. Which state was Buffett worried about in terms of its ability to create good investments for his company?

4. Berkshire's board included a controlling ________, in which other board members could persuade others to make changes.

5. What was the piece of advice that Buffett took to heart from the athlete?

(see the answer key)

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