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

Multiple Choice Questions

1. Buffett and his partner preferred to buy a company at a fair price at _______% interest.
(a) 50.
(b) 49.
(c) 99.
(d) 100.

2. When did Berkshire Hathaway begin as a textile company?
(a) 1967.
(b) 1956.
(c) Early 1900s.
(d) Early 1800s.

3. How many owner-related business principles were listed in this section of the book by Buffett?
(a) 25.
(b) 14.
(c) 7.
(d) 10.

4. Buffett managed by ________-related business principles, according to the book.
(a) Math.
(b) Owner.
(c) Stock.
(d) Business.

5. Who was the financial mentor that Buffett relied upon for his teachings and lessons about the way to do business?
(a) Himself.
(b) Ben Graham.
(c) No one.
(d) Charlie Munger.

Short Answer Questions

1. Berkshire might evolve into a _______ form of board situation, upon Buffett's death, according to the book.

2. Substantial equity interest was NOT owned by one of the following companies.

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

4. Berkshire's board included a controlling ________, in which other board members could persuade others to make changes.

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

(see the answer key)

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