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

Multiple Choice Questions

1. Preferred stock is considered with _________ that Munger and Buffett like, admire, and trust.
(a) Products.
(b) History.
(c) Values.
(d) Management.

2. What was the piece of advice that Buffett took to heart from the athlete?
(a) Practice makes permitted.
(b) Perfect makes practice.
(c) Practice makes permanent.
(d) Practice makes perfect.

3. Buffett and Munger bought _________ companies the same way they might buy private companies.
(a) Public.
(b) Large.
(c) Corporate.
(d) Small.

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

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

Short Answer Questions

1. A stock _______ might attractive investors unlike their current investor group which might downgrade the quality of the shares.

2. The content of the book was often used as a standard text at the Cardozo School of __________.

3. Which of the partners had 99% of their net worth concentrated in Berkshire stock?

4. What was the total look through earnings of Berkshire in 1990, plus non-dividend operating earnings?

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

(see the answer key)

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