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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 disliked _________ because of its leverage, according to the book.
(a) Stocks.
(b) Accounting.
(c) Savings bonds.
(d) Banking.

2. Buffett proposed that earnings should be retained to the extent each retained dollar creates at least ________ of market value for owners.
(a) Five dollars.
(b) Ten dollars.
(c) Twenty dollars.
(d) One dollar.

3. Buffett and Munger were often asked to ________ under the assumption it would benefit shareholders, but they disagree.
(a) Keep stock.
(b) Buy more holdings.
(c) Split stock.
(d) Sell stock.

4. While Munger and Buffett were excited when they are in the process of acquiring a new business, they were also _________.
(a) Rational.
(b) Unhurried.
(c) Bored.
(d) Complacent.

5. Buffett's long term economic goal was to maximize per share _________ value of Berkshire stock by owning a diversified group of businesses.
(a) Market.
(b) Intrinsic.
(c) Economic.
(d) True.

Short Answer Questions

1. What did the zero-coupon bonds not pay to the investor in the end?

2. Buffett's criteria measured _________ expectations of the highest after-tax returns to maximize net worth in the long run.

3. Any new investment must use a lot of large amounts of _________, according to the book.

4. In 1992, what did the Berkshire per share stock price increase past?

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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