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This quiz consists of 5 multiple choice and 5 short answer questions through Accounting and Valuation.

Multiple Choice Questions

1. Buffett and Munger do not check _________'s manic depressive daily price quotes to validate their investment.
(a) Mr. Big.
(b) Wall Street.
(c) New York Times.
(d) Mr. Market.

2. Munger and Buffett act like ________ when it comes to considering the economic prospects of the businesses they buy.
(a) Kids.
(b) Stock traders.
(c) Business analysts.
(d) Bankers.

3. The question of an exchange of stock arose in 1983 during the merger of Berkshire and ____________.
(a) Coca-Cola.
(b) Blue Chip.
(c) Blue Note.
(d) Wal-Mart.

4. In 1992, what did the Berkshire per share stock price increase past?
(a) $20,000.
(b) $30,000.
(c) $10,000.
(d) $25,000.

5. Buffett did not expand, borrow, or sell unless Berkshire received as much _________ as it gave.
(a) Value.
(b) Dividends.
(c) Promise.
(d) Power.

Short Answer Questions

1. Buffett proposed that earnings should be retained to the extent each retained dollar creates at least ________ of market value for owners.

2. The purchase of the company listed in #49 was influenced by whose investing principles?

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

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

5. What was coined as the term for the amount of undiscovered embezzlement?

(see the answer key)

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