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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. How much did Buffett pay for Nebraska Furniture Mart?
(a) $10 million.
(b) $25 million.
(c) $60 million.
(d) $5 million.

2. Cap Cities would use the money from Berkshire to:
(a) diversify.
(b) invest in the satellite business.
(c) modernize.
(d) buy ABC.

3. How many people worked at Berkshire's world headquarters:
(a) two hundred fifty.
(b) eleven.
(c) twenty seven.
(d) fifty.

4. Daughter Susie moved back to Omaha when:
(a) she divorced her husband.
(b) she became ill.
(c) Warren offered her money.
(d) her husband became the manager of the Buffet Foundation.

5. In Congressional testimony, Buffett makes it clear that:
(a) he wanted the charges dropped.
(b) he would tolerate no wrong doing at Salamon.
(c) he wanted the perpetrators of the crime prosecuted.
(d) he would not cooperate with the government.

Short Answer Questions

1. Which was not one of Buffett's big deals in the second half of 1989?

2. Buffett's views on hostile takeovers included all but:

3. The head of Salomon was:

4. If Buffett made a loan to one of his children:

5. Who handled Berkshire's investments:

Short Essay Questions

1. How did Buffett learn about the Nebraska Furniture Mart?

2. What are zero coupon bonds that were being used to finance LBO?

3. Why wasn't Buffett adversely affected by the insurance market problems in 1985?

4. What were Buffett's views on hostile takeovers?

5. What was Buffett's attitude about sharing his wealth with his children?

6. What did Buffett do with his textile mills?

7. Why did Buiffett invest in Salomon?

8. What kind of stocks did Buffett look for?

9. How does Buffett describe the difference between his public and private lives?

10. How many people are employed at Buffett's world headquarters?

(see the answer keys)

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