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

Multiple Choice Questions

1. Buffett thought that any CEO who set earning targets and forecasts might also take ______ with accounting measures.
(a) Risks.
(b) Carelessness.
(c) Less than legal strategies.
(d) Pride.

2. The intrinsic business value goal was reached by ________, preferably 100% ownership of diverse business firms generating cash and above-average returns on capital.
(a) Direct.
(b) Indirect.
(c) Passive.
(d) Prominent.

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

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

5. What was the name of Warren Buffett's partner in the company they shared?
(a) Steve Jobs.
(b) Lloyd Munger.
(c) Bill Gates.
(d) Charlie Munger.

Short Answer Questions

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

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

3. The content of the book was often used as a standard text at the Cardozo School of __________.

4. What was the one thing that Munger and Buffett would not address in their question sessions?

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

(see the answer key)

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