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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. Why did the Buffetts move to New York in 1954?

2. The Evening News' rival newspaper was the:

3. Warren increased his paper route by:

4. Buffett bought enough of Berkshire to:

5. A cotton mill was established in New Bedford in:

Short Essay Questions

1. How did Buffett's partnership differ from other mutual funds?

2. Munger and Buffett purchased the Buffalo Evening Press and became involved in an anti-trust suit. What brought on the anti-trust suit by the rival Courier-News?

3. What is the difference between the quantitative appeal of Berkshire and the qualitative appeal of American Express?

4. Where was Warren Buffett born and raised?

5. What did Warren do after business school?

6. Why were so many investors impressed by Warren?

7. What was happening with other mutual funds by early 1967?

8. How did Buffett communicate with his partners?

9. How did Warren handle investments for others? What were his terms?

10. What were Buffett's views on religion?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Buffett's views and practices rarely coincided with the practices and views on Wall Street. In what areas did they differ and why? Give examples in your answer, and have make sure you mention three separate areas.

Essay Topic 2

Is Buffett's home life typical of the lives of other American families? Why or why not? Did Buffett's home life turn out the way he wanted it to?

Essay Topic 3

What is the importance of return on equity? Why did Buffett emphasize this? What happened when the Washington Post followed his advice?

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