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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 promised to provide sufficient additional _______ to evaluate true results.
(a) Information.
(b) Research.
(c) Funding.
(d) Shareholders.

2. Who did Buffett authorize to use the essays in the book to popularize the teachings and Buffett's own implementation of the teachings?
(a) No one.
(b) Smith.
(c) Cunningham.
(d) Munger.

3. 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.

4. Buffett made distinctions in ________ policy to account or differences in earnings, according to the book.
(a) Market.
(b) Share.
(c) Ownership.
(d) Dividend.

5. Two super contagious diseases in the investment world included _______ and greed, according to the book.
(a) Pain.
(b) Ignorance.
(c) Fear.
(d) Rationality.

Short Answer Questions

1. What company did Buffett acquire in 1964, which he eventually grew into a large holding company?

2. What was the piece of advice that Buffett took to heart from the athlete?

3. The partners were committed to providing and presenting a _______ business and ownership philosophy.

4. What is NOT one of the three excuses often given by an overpaying buyer, according to the book?

5. The current value of the company Buffett and his partner bought showed that they understated its current ________ value.

(see the answer key)

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