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

Multiple Choice Questions

1. What was the name of the bank that had substantial equity interest in Berkshire?
(a) Chase.
(b) Bank of America.
(c) Fifth Third.
(d) Wells Fargo.

2. 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.

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

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

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

Short Answer Questions

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

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

3. Buffett and his partner preferred to buy a company at a fair price at _______% interest.

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

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

(see the answer key)

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