View a FREE sample

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

Multiple Choice Questions

1. What was the piece of advice that Buffett took to heart from the athlete?
(a) Practice makes perfect.
(b) Practice makes permanent.
(c) Perfect makes practice.
(d) Practice makes permitted.

2. ________ took fictional accounting actions that showed absurd accounting manipulations to let it undersell all competition to dominate the industry.
(a) Pepsi.
(b) US Steel.
(c) Coca-Cola.
(d) GEICO.

3. Buffett's long term economic goal was to maximize per share _________ value of Berkshire stock by owning a diversified group of businesses.
(a) True.
(b) Intrinsic.
(c) Market.
(d) Economic.

4. Risk ___________ was defined as the pursuit of profits from anticipated events, according to the book.
(a) Investing.
(b) Movement.
(c) Memories.
(d) Arbitrage.

5. What was the title of Buffett in relation to his company?
(a) Vice-Chairman.
(b) Owner.
(c) Chairman.
(d) President.

Short Answer Questions

1. Which business did Munger and Buffett decide to close, despite their best efforts?

2. Buffett dismissed risk in his choices with his notion that falling __________ prices present an opportunity to buy.

3. Below investment grade bonds are generally called ________, since they are able to be transformed.

4. Buffett realized that it was helpful to be _________ when others were fearful in the market.

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

(see the answer key)

This section contains 215 words (approx. 1 page at 300 words per page) View a FREE sample