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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. _________ percentage ownership was acquired when the market presented opportunities, according to the book.
(a) More.
(b) Lesser.
(c) Greater.
(d) Beholden.

2. What did Berkshire do in the case of the zero-coupon bonds? They deducted ______ with no cash paid out.
(a) Interest.
(b) Length of time to cash it out.
(c) Shares.
(d) Value.

3. Buffett and Munger promised to provide sufficient additional _______ to evaluate true results.
(a) Research.
(b) Information.
(c) Funding.
(d) Shareholders.

4. Below investment grade bonds are generally called ________, since they are able to be transformed.
(a) Fallen angels.
(b) Junky bonds.
(c) Caterpillars.
(d) Demons.

5. Buffett and Munger bought _________ companies the same way they might buy private companies.
(a) Large.
(b) Small.
(c) Public.
(d) Corporate.

Short Answer Questions

1. Buffett claimed in the book that most Berkshire shareholders will hang onto their shares for ____________.

2. Buffett's wealth was solely in _________ stock, investing and reinvesting dividends on its proportional increase per share market value over time.

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

4. How many primary holdings were permanent in the time of Buffett and Munger?

5. Buffett's ______ years of experience cause him to think that efficient times in the market do not constitute an efficient market.

(see the answer key)

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