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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) Dividends.
(b) Value.
(c) Power.
(d) Promise.

2. _________ percentage ownership was acquired when the market presented opportunities, according to the book.
(a) More.
(b) Beholden.
(c) Greater.
(d) Lesser.

3. Buffett and Munger saw themselves as general _______ responsible to other shareholders.
(a) Guides.
(b) Managers.
(c) Partners.
(d) Professors.

4. What was the one thing that Munger and Buffett would not address in their question sessions?
(a) Investment strategies.
(b) Personal business.
(c) Numbers.
(d) Nothing.

5. Buffett and Munger also followed the idea of minimal use of _______ and leverage, helping to create solid investments.
(a) Debt.
(b) Recovery.
(c) Divestment.
(d) Consolidation.

Short Answer Questions

1. Buffett noted that a CEO had no direct ______ or clear standards of performance, making even under performing ones able to continue working.

2. Who was the financial mentor that Buffett relied upon for his teachings and lessons about the way to do business?

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

4. Confusing ________ requirements were offset by the partners' willingness to report look-through earnings.

5. What was the name of Warren Buffett's partner in the company they shared?

(see the answer key)

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