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This quiz consists of 5 multiple choice and 5 short answer questions through Accounting Policy and Tax Matters.

Multiple Choice Questions

1. How many shareholders did Munger and Buffett pledge to provide fair and simultaneous reporting to?
(a) 10.
(b) 15,000.
(c) 50%.
(d) 300,000.

2. Below investment grade bonds are generally called ________, since they are able to be transformed.
(a) Fallen angels.
(b) Caterpillars.
(c) Demons.
(d) Junky bonds.

3. What were the name of the bonds that were issued during WWI?
(a) IRA.
(b) Series II.
(c) Series B.
(d) Series E.

4. Buffett and Munger invested based on company operating results and not on ____________.
(a) Price quotes.
(b) The stock market.
(c) Shareholder opinion.
(d) Profit margins.

5. Buffett believed that _______ data was important to his and Munger's decision making.
(a) Business.
(b) Stock.
(c) Accounting.
(d) Investor.

Short Answer Questions

1. How many primary holdings were permanent in the time of Buffett and Munger?

2. How many shares each did the shareholders of the company have to have in order to be listed on the exchange?

3. Two super contagious diseases in the investment world included _______ and greed, according to the book.

4. Keynes stated: "The right method of investment is to put fairly large sums of money into enterprises which one thinks one knows something about and in the ________ of which one thoroughly believes."

5. What is NOT one of the three excuses often given by an overpaying buyer, according to the book?

(see the answer key)

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