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

Multiple Choice Questions

1. Buffett claimed in the book that most Berkshire shareholders will hang onto their shares for ____________.
(a) Life.
(b) Friends and family.
(c) The time before retirement.
(d) A few years.

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

3. What was the initial book value of the company that Buffett and his partner acquired in 1964?
(a) $35.00
(b) $47.01.
(c) $10.67.
(d) $19.46.

4. Buffett believed that many annual ________ were a waste of time for the shareholders and the management.
(a) Charts.
(b) Meetings.
(c) Reports.
(d) Updates.

5. What was the title of Buffett in relation to his company?
(a) President.
(b) Vice-Chairman.
(c) Chairman.
(d) Owner.

Short Answer Questions

1. How many shareholders did Munger and Buffett pledge to provide fair and simultaneous reporting to?

2. Buffett and Munger both opposed any selective ________ and predictive growth rates from the CEOs who reported them.

3. Buffett and Munger also followed the idea of minimal use of _______ and leverage, helping to create solid investments.

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

(see the answer key)

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