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

Multiple Choice Questions

1. The current value of the company Buffett and his partner bought showed that they understated its current ________ value.
(a) Market.
(b) Intrinsic.
(c) World.
(d) Business.

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

3. Which business did Munger and Buffett decide to close, despite their best efforts?
(a) Textile.
(b) None.
(c) GEICO.
(d) Coca-Cola.

4. _________ were often unwilling to discuss the business issues during meetings.
(a) Managers.
(b) The salespeople.
(c) The board members.
(d) Shareholders.

5. 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) Authority.
(c) Supervisor.
(d) Responsibilities.

Short Answer Questions

1. The partners considered a lesser interest if the ________ price was less than what it would be for 100%.

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

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

4. What was the name of the bank that had substantial equity interest in Berkshire?

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

(see the answer key)

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