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

Multiple Choice Questions

1. The content of the book was often used as a standard text at the Cardozo School of __________.
(a) Business.
(b) Medicine.
(c) Engineering.
(d) Law.

2. Buffett did not expand, borrow, or sell unless Berkshire received as much _________ as it gave.
(a) Value.
(b) Power.
(c) Dividends.
(d) Promise.

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

4. Berkshire's board included a controlling ________, in which other board members could persuade others to make changes.
(a) Competitor.
(b) Shareholder.
(c) Outsider.
(d) Owner.

5. Buffett and Munger promised to provide sufficient additional _______ to evaluate true results.
(a) Information.
(b) Shareholders.
(c) Research.
(d) Funding.

Short Answer Questions

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

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

3. The board was ultimately responsible for any _______'s performance in the companies they held.

4. Who did Buffett authorize to use the essays in the book to popularize the teachings and Buffett's own implementation of the teachings?

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

(see the answer key)

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