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

Multiple Choice Questions

1. Which of the partners had 99% of their net worth concentrated in Berkshire stock?
(a) Both.
(b) Neither.
(c) Munger.
(d) Buffett.

2. A company might consider repurchasing _______ when it has available funds that are above long-term needs.
(a) Bills.
(b) Bonds.
(c) Fallen angels.
(d) Shares.

3. How much was the company worth that Buffett and his partner created at the time of this book?
(a) $70B.
(b) $30M.
(c) $10M.
(d) $5M.

4. Which state was Buffett worried about in terms of its ability to create good investments for his company?
(a) Alabama.
(b) Hawaii.
(c) California.
(d) Illinois.

5. Essays are from __________ that Buffett prepared for and wrote for Berkshire shareholders.
(a) Seminars.
(b) Annual reports.
(c) Personal notes.
(d) Trainings.

Short Answer Questions

1. How many primary holdings were permanent in the time of Buffett and Munger?

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

3. _________ can be foolish, according to the lessons in this chapter, foolhardy even, or just be fooling buyers and sellers.

4. Buffett and Munger invested based on company operating results and not on ____________.

5. A bond is _______ with regular payment of interest and repayment of principle.

(see the answer key)

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