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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. Whose approach did other companies try to use in order to emulate Berkshire?
(a) Graham.
(b) Munder.
(c) Mulder.
(d) Smith.

2. All acquisition considerations were paid for in ________, according to the book's information.
(a) Trades.
(b) Stocks.
(c) Cash.
(d) Handshakes.

3. Buffett discussed the popularity of _________ buyouts as they had a number of different benefits to them.
(a) Averaged.
(b) Bored.
(c) Leveraged.
(d) Discussed.

4. What kind of pro told Buffett the piece of information that helped to guide them on the field?
(a) Golf.
(b) Soccer.
(c) Baseball.
(d) Football.

5. ___________ recognized that statements are not adequate compared to segment data that enabled control of business.
(a) Shareholders.
(b) The public.
(c) Management.
(d) The business students.

Short Answer Questions

1. LBO operators benefitted from the use of ________ to reshuffle business, risk little of their own money to gain high fees, etc.

2. During what year were the Berkshire shares to be traded on the New York Stock Exchange?

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

4. Inventory was carried at _______ value to minimize any loss from accounting adjustments in addition to other satirical accounting action.

5. Options were often ______ at exercise which made them more expensive than publicly traded options.

Short Essay Questions

1. Why would a company want to repurchase their own shares, according to Buffett?

2. What were the two super contagious diseases that could spread in the investment community?

3. What was the expected benefit for the Berkshire NYSE listing, according to the book?

4. What did Buffett prefer in trading that allowed for more benefits to long-term owners of stock?

5. What question emerged during the merger between Berkshire and Blue Chip in 1983?

6. What did Buffett try to do in order to avoid problems with the two contagious diseases in the investment community?

7. What were the two categories of most interest for Munger and Buffett when they wanted to add to their holdings?

8. What was the benefit of major business activities being grouped together?

9. What was the difference between the purchase and the pooling transaction?

10. What did Buffett admit that he used to do when seeking out new investments thirty-five years ago?

(see the answer keys)

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