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

Multiple Choice Questions

1. Buffett noted that a CEO had no direct ______ or clear standards of performance, making even under performing ones able to continue working.
(a) Workers.
(b) Supervisor.
(c) Authority.
(d) Responsibilities.

2. Essays are from __________ that Buffett prepared for and wrote for Berkshire shareholders.
(a) Personal notes.
(b) Trainings.
(c) Seminars.
(d) Annual reports.

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

4. When did Berkshire Hathaway begin as a textile company?
(a) Early 1800s.
(b) Early 1900s.
(c) 1956.
(d) 1967.

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

Short Answer Questions

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

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

3. What was the title of Buffett's partner in the company they shared?

4. Berkshire might evolve into a _______ form of board situation, upon Buffett's death, according to the book.

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

(see the answer key)

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