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

Multiple Choice Questions

1. What did Buffett worry about at the age of twenty six when he had little money?
(a) how to amass a fortune.
(b) where he would retire to.
(c) on an individual basis.
(d) how much money to leave to his children and what to do with the money.

2. What did the young Warren trust?
(a) his sister.
(b) religion.
(c) his grandfather.
(d) numbers.

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

4. What was the most important aspect of American Express?
(a) its name.
(b) its assets.
(c) its history.
(d) its dividends.

5. After graduating from business school, Warren returned to Omaha to work for:
(a) Buffett-Falk & Company.
(b) Proctor & Gamble.
(c) Omaha National Bank.
(d) Citi Bank.

6. During the early 1960s, the company's stock price:
(a) decreased.
(b) increased.
(c) doubled in value.
(d) stock split several times.

7. Buffett feared being known as:
(a) unethical.
(b) a liquidator.
(c) a loser.
(d) wealthy.

8. How old was Warren when his father became Congressman?
(a) twelve.
(b) twenty three.
(c) six.
(d) eighteen.

9. Buffett Partnership was Berkshire's biggest stockholder by:
(a) 1963.
(b) 1966.
(c) 1965.
(d) 1962.

10. The Buffett children describe their mother as:
(a) friendly.
(b) moody.
(c) outgoing.
(d) lenient.

11. A cotton mill was established in New Bedford in:
(a) 1875.
(b) 1860.
(c) 1890.
(d) 1847.

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

13. Warren Buffett was born in___________.
(a) Memphis, Tennessee.
(b) Chicago, Illinois.
(c) Omaha, Nebraska.
(d) Kansas City, Nebraska.

14. The Buffett family owned and operated a ___________.
(a) corn farm.
(b) cattle ranch.
(c) general store.
(d) grocery store.

15. What did Buffett recommend that the Post do?
(a) expand overseas.
(b) expand magazine operations.
(c) buy back its own stock.
(d) expand television operations.

Short Answer Questions

1. Warren attended graduate school at:

2. Throughout his years in school, Buffett said he would live in:

3. What step did Buffett take in early 1966?

4. Warren purchased his first stocks at the age of:

5. Which of the following is not one of the terms of Warren's partnership?

(see the answer keys)

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