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This quiz consists of 5 multiple choice and 5 short answer questions through Accounting and Valuation.

Multiple Choice Questions

1. Half of all major American companies match __________ donations of directors.
(a) Worker.
(b) Market.
(c) Stock.
(d) Charitable.

2. How much profit did the new holding of Berkshire make for Buffett and Munger?
(a) $250M.
(b) $150M.
(c) $100M.
(d) $500M.

3. _________ percentage ownership was acquired when the market presented opportunities, according to the book.
(a) Lesser.
(b) More.
(c) Beholden.
(d) Greater.

4. The partners were also interested in firms that had extraordinary ________ talent exhibiting skillful executive achievement.
(a) Management.
(b) Prices.
(c) Reports.
(d) Jumps.

5. What did a bondholder have to do with their bond if they decided to cash it in early?
(a) Earn more.
(b) Nothing.
(c) Pay interest.
(d) Transfer it back to the owner.

Short Answer Questions

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

2. What did Berkshire do in the case of the zero-coupon bonds? They deducted ______ with no cash paid out.

3. Most Berkshire _______ had their net worth invested primarily in the company.

4. Popular theory at the time said that the market was totally efficient at _________ investment.

5. How many shareholders did a business that wanted to be on the NYSE have to have?

(see the answer key)

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