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

Multiple Choice Questions

1. Buffett claimed in the book that most Berkshire shareholders will hang onto their shares for ____________.
(a) The time before retirement.
(b) Friends and family.
(c) A few years.
(d) Life.

2. Most Berkshire _______ had their net worth invested primarily in the company.
(a) Secretaries.
(b) Shareholders.
(c) Directors.
(d) Workers.

3. Essays are from __________ that Buffett prepared for and wrote for Berkshire shareholders.
(a) Annual reports.
(b) Personal notes.
(c) Seminars.
(d) Trainings.

4. The current value of the company Buffett and his partner bought showed that they understated its current ________ value.
(a) World.
(b) Business.
(c) Market.
(d) Intrinsic.

5. Buffett's wealth was solely in _________ stock, investing and reinvesting dividends on its proportional increase per share market value over time.
(a) GEICO.
(b) Wells Fargo.
(c) Berkshire.
(d) Coca-Cola.

Short Answer Questions

1. Buffett is proud that ____% of the shares outstanding at the end of each year were held by the same shareholders.

2. Buffett and Munger saw themselves as general _______ responsible to other shareholders.

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

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

5. What was the initial book value of the company that Buffett and his partner acquired in 1964?

(see the answer key)

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