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This quiz consists of 5 multiple choice and 5 short answer questions through Mergers and Acquisitions.

Multiple Choice Questions

1. What was NOT one of the three tax-free gifting tactics that Buffett suggested to shareholders?
(a) Bargain sale.
(b) Will gifting.
(c) Married couple gifting.
(d) Partnership form.

2. Buffett followed the simple rule that the same amount of intrinsic business value must be exchanged with each ________ transaction.
(a) Stock.
(b) Legal.
(c) Movement.
(d) Dividend.

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) Passive.
(b) Direct.
(c) Prominent.
(d) Indirect.

4. The different classes of stock allow _______ investors to still have value for the money they can spend.
(a) Large.
(b) Short-term.
(c) Long-term.
(d) Small.

5. Who did Buffett authorize to use the essays in the book to popularize the teachings and Buffett's own implementation of the teachings?
(a) Cunningham.
(b) Smith.
(c) Munger.
(d) No one.

Short Answer Questions

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

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

3. Some Berkshire insurance subsidiaries used _______ with its greater returns than to use Treasury Bils.

4. What was the stock market value of the company in #49 when it was first purchased by Buffett?

5. How much was the company worth that Buffett and his partner created at the time of this book?

(see the answer key)

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