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This quiz consists of 5 multiple choice and 5 short answer questions through Alternatives to Common Stock.

Multiple Choice Questions

1. A __________ was something that Buffett and Munger believed was valuable to inform businesses owners of the year's business growth.
(a) Business gathering.
(b) Business report.
(c) Business trade show.
(d) Business forum.

2. What was NOT one of the elements listed in the elements of arbitrage in the book?
(a) Likelihood that money is committed.
(b) Expected internal action.
(c) Change a competing event occurs.
(d) Length of time money is committed.

3. The market was considered a business partner with incurable _______ problems, according to the book.
(a) Investment.
(b) Spiritual.
(c) Banking.
(d) Emotional.

4. The margin of ________ was the cornerstone of investment success, according to Graham.
(a) Error.
(b) Safety.
(c) Risk.
(d) Reward.

5. What was coined as the term for the amount of undiscovered embezzlement?
(a) Bezzle.
(b) Bonding.
(c) Bezz.
(d) Embezzling.

Short Answer Questions

1. Risk ___________ was defined as the pursuit of profits from anticipated events, according to the book.

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

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

4. Buffett and Munger bought _________ companies the same way they might buy private companies.

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

(see the answer key)

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