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This quiz consists of 5 multiple choice and 5 short answer questions through Common Stock.

Multiple Choice Questions

1. The partners considered a lesser interest if the ________ price was less than what it would be for 100%.
(a) Pro-management.
(b) Pro-biotic.
(c) Pro-rate.
(d) Pro-rata.

2. The current value of the company Buffett and his partner bought showed that they understated its current ________ value.
(a) Intrinsic.
(b) Market.
(c) Business.
(d) World.

3. 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.

4. What was the name of the bank that had substantial equity interest in Berkshire?
(a) Chase.
(b) Wells Fargo.
(c) Fifth Third.
(d) Bank of America.

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

Short Answer Questions

1. Buffett preferred to trade a narrow range around _________ business value to favor long-term owners.

2. What was the name of the bond holdings that Buffett added to Berkshire in 1989?

3. The _______ doesn't feel poorer when the embezzler is getting richer.

4. Buffett thought that any CEO who set earning targets and forecasts might also take ______ with accounting measures.

5. Buffett's wealth was solely in _________ stock, investing and reinvesting dividends on its proportional increase per share market value over time.

(see the answer key)

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