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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. In 1964, Stanton:
(a) filed a lawsuit.
(b) old the remaining stock.
(c) retired.
(d) tried to buy back the Berkshire stock.

2. Ben Graham's specialty was:
(a) Classical Latin.
(b) Greek drama.
(c) business management strategy.
(d) stock market.

3. Buffett bought enough of Berkshire to:
(a) bring on a lawsuit.
(b) sit on the board.
(c) arouse the curiousity of the press.
(d) to anger his other partners.

4. Warren handled his investments with people:
(a) on an individual basis.
(b) by forming partnerships.
(c) by following their instructions.
(d) by keeping them informned.

5. What was one of the stocks that Warren bought and promoted while at Buffett-Falk?
(a) Standard Oil.
(b) GEICO.
(c) Proctor & Gamble.
(d) Kimberly Clark.

6. As a child, Warren was interested in:
(a) games.
(b) baseball.
(c) model cars.
(d) the stock market.

7. Warren attended graduate school at:
(a) University of Chicago.
(b) Harvard.
(c) Princeton.
(d) Columbia.

8. What industry did Buffett become interested in at this time?
(a) auto.
(b) steel.
(c) newspaper.
(d) high tech.

9. By the time of World War I, what part of the New Bedford labor force worked at the mill?
(a) three fourths.
(b) one fourth.
(c) one half.
(d) one third.

10. What did Warren's father tell him when he returned from running away?
(a) improve his grades or give up the paper route.
(b) he was sending him back to Nebraska.
(c) quit his job as punishment.
(d) he was grounded for one month.

11. What did Buffett say he was putting his money into?
(a) a new mutual fund.
(b) blue chip stocks.
(c) money market funds.
(d) municipal bonds.

12. What is the main qualification for buying a stock?
(a) past performance.
(b) the potential.
(c) bargain price.
(d) overall picture.

13. Which of the following was not one of the three companies that Buffett used to purchase stock and other companies?
(a) American Express.
(b) Berkshire Hathaway.
(c) Blue Chip Stamps.
(d) Diversified Retailing.

14. As Buffett's income and wealth grew, he:
(a) he collected more material things ostentaciously.
(b) basically maintained his same lifestyle.
(c) he traveled more.
(d) his spending habits changed.

15. In their senior year, Warren and Danley opened a:
(a) courier service.
(b) stock quote business.
(c) magazine clipping service.
(d) pinball machine business.

Short Answer Questions

1. What was one of Buffett's first possessions that had to do with money?

2. In early 1967, Buffett advised his partners that:

3. Buffett became a director on the board of the Post in:

4. Susie did all but:

5. What was not a characteristic of a performance fund?

(see the answer keys)

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