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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 did not expand, borrow, or sell unless Berkshire received as much _________ as it gave.
(a) Promise.
(b) Value.
(c) Power.
(d) Dividends.

2. The long-term economic goal was to maximize per-share average annual rate of gain at ______% of the intrinsic business value.
(a) 15.
(b) 12.
(c) 20.
(d) 50.

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

4. Berkshire kept the business operating after the acquisition, since it would already have successful ___________.
(a) Movement.
(b) Debts.
(c) Practices.
(d) Management.

5. A company might consider repurchasing _______ when it has available funds that are above long-term needs.
(a) Bonds.
(b) Fallen angels.
(c) Shares.
(d) Bills.

Short Answer Questions

1. Berkshire might evolve into a _______ form of board situation, upon Buffett's death, according to the book.

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

3. How much profit did the new holding of Berkshire make for Buffett and Munger?

4. A CEO unlikely to dispose of his successful operating business may sell profitable stock investments to redeploy _________.

5. The intrinsic business value goal was reached by ________, preferably 100% ownership of diverse business firms generating cash and above-average returns on capital.

(see the answer key)

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