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

Multiple Choice Questions

1. Buffett's long term economic goal was to maximize per share _________ value of Berkshire stock by owning a diversified group of businesses.
(a) Market.
(b) Economic.
(c) True.
(d) Intrinsic.

2. Berkshire was a ________ corporation, as it was described in this section of the book.
(a) Public.
(b) Co-owned.
(c) Private.
(d) Shared.

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

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

5. A __________ was something that Buffett and Munger believed was valuable to inform businesses owners of the year's business growth.
(a) Business forum.
(b) Business report.
(c) Business trade show.
(d) Business gathering.

Short Answer Questions

1. Buffett believed that many annual ________ were a waste of time for the shareholders and the management.

2. _________ were often unwilling to discuss the business issues during meetings.

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

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

5. The current value of the company Buffett and his partner bought showed that they understated its current ________ value.

(see the answer key)

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