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

Multiple Choice Questions

1. If the buyer's stock was sold at less than intrinsic value, he bought with undervalued _________ and would suffer an unequal exchange.
(a) Markets.
(b) Dividends.
(c) Currency.
(d) Companies.

2. Most Berkshire _______ had their net worth invested primarily in the company.
(a) Secretaries.
(b) Workers.
(c) Shareholders.
(d) Directors.

3. The $70B enterprise that Buffett and his partner buy includes GEICO and ________ corporation.
(a) GE Re.
(b) General Mills.
(c) Microsoft.
(d) Apple.

4. The bonds that Buffett decides to buy in 1989 were thought to be ________, but turn out to be fallen angels.
(a) Junk.
(b) Meaningless.
(c) Evil.
(d) Priceless.

5. How many shareholders did a business that wanted to be on the NYSE have to have?
(a) 100.
(b) 10,000.
(c) 2000.
(d) 5000.

Short Answer Questions

1. Berkshire's long-term investment strategy to buy and to hold _______ for the long term was something that was comfortable to them.

2. Buffett did not expand, borrow, or sell unless Berkshire received as much _________ as it gave.

3. Buffett and Munger were often asked to ________ under the assumption it would benefit shareholders, but they disagree.

4. What was the piece of advice that Buffett took to heart from the athlete?

5. The partners were also interested in firms that had extraordinary ________ talent exhibiting skillful executive achievement.

(see the answer key)

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