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

Multiple Choice Questions

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

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

3. Most Berkshire _______ had their net worth invested primarily in the company.
(a) Workers.
(b) Secretaries.
(c) Shareholders.
(d) Directors.

4. What was the value of the shares of the company that Buffett and his partner purchased thirty years after its purchase?
(a) $25,000 per share.
(b) $15,000 per share.
(c) $10,000 per share.
(d) $40,000 per share.

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

Short Answer Questions

1. What was the initial book value of the company that Buffett and his partner acquired in 1964?

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

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

4. How many owner-related business principles were listed in this section of the book by Buffett?

5. Essays are from __________ that Buffett prepared for and wrote for Berkshire shareholders.

(see the answer key)

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