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This quiz consists of 5 multiple choice and 5 short answer questions through Corporate Governance.

Multiple Choice Questions

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

2. The board was ultimately responsible for any _______'s performance in the companies they held.
(a) Shareholder.
(b) CEO.
(c) Market.
(d) Worker.

3. Buffett noted that a CEO had no direct ______ or clear standards of performance, making even under performing ones able to continue working.
(a) Responsibilities.
(b) Authority.
(c) Supervisor.
(d) Workers.

4. Berkshire might evolve into a _______ form of board situation, upon Buffett's death, according to the book.
(a) Second.
(b) Fourth.
(c) Third.
(d) Dissolved.

5. Berkshire invested in companies with excellent economic prospects and outstanding __________.
(a) Stock prices.
(b) Ideas.
(c) Managers.
(d) Websites.

Short Answer Questions

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

2. Buffett and Munger promised to provide sufficient additional _______ to evaluate true results.

3. Buffett managed by ________-related business principles, according to the book.

4. How many shareholders did Munger and Buffett pledge to provide fair and simultaneous reporting to?

5. What was the value of the shares of the company that Buffett and his partner purchased thirty years after its purchase?

(see the answer key)

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