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

Multiple Choice Questions

1. What was NOT one of the elements listed in the elements of arbitrage in the book?
(a) Length of time money is committed.
(b) Change a competing event occurs.
(c) Expected internal action.
(d) Likelihood that money is committed.

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

3. The margin of ________ was the cornerstone of investment success, according to Graham.
(a) Risk.
(b) Reward.
(c) Error.
(d) Safety.

4. Buffett and Munger continue to offer _______ for value trade in the acquisition process, as it seems fair to all parties.
(a) Value.
(b) Choice.
(c) Benefit.
(d) Truth.

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

Short Answer Questions

1. Berkshire was a ________ corporation, as it was described in this section of the book.

2. How many owner-related business principles were listed in this section of the book by Buffett?

3. Who was the financial mentor that Buffett relied upon for his teachings and lessons about the way to do business?

4. The partners considered a lesser interest if the ________ price was less than what it would be for 100%.

5. Buffett's long term economic goal was to maximize per share _________ value of Berkshire stock by owning a diversified group of businesses.

(see the answer key)

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