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

Multiple Choice Questions

1. Buffett criticizes __________ market theory as be does not believe it to be a truth.
(a) Efficient.
(b) Effective.
(c) Eradicant.
(d) Erasing.

2. The board was ultimately responsible for any _______'s performance in the companies they held.
(a) Market.
(b) CEO.
(c) Shareholder.
(d) Worker.

3. The goal of the partners was to maximize the real economic benefits, not just the number of ___________.
(a) Checks.
(b) Enterprises.
(c) Shares.
(d) Properties.

4. What was the initial book value of the company that Buffett and his partner acquired in 1964?
(a) $35.00
(b) $10.67.
(c) $47.01.
(d) $19.46.

5. The _______ doesn't feel poorer when the embezzler is getting richer.
(a) Country.
(b) Victim.
(c) Government.
(d) Market.

Short Answer Questions

1. Buffett and Munger also followed the idea of minimal use of _______ and leverage, helping to create solid investments.

2. _________ were often unwilling to discuss the business issues during meetings.

3. What was the name of the company that Buffett and Munger bought in 1973?

4. What was NOT one of the elements listed in the elements of arbitrage in the book?

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

(see the answer key)

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