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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 US Air lose money after Buffett's investment?

2. Daughter Susie moved back to Omaha when:

3. What did Buffett always look at, especially in insurance?

4. At the end of 1986, the approximate share price of Berkshire was?

5. At a press conference, Buffet announced that he will:

Short Essay Questions

1. What was one of Buffett's biggest fears in 1980?

2. What was the outcome of the government case against Salomon?

3. What are referred to as Buffett's sweetheart deals?

4. What stock did Buffett begin purchasing in 1988?

5. Buffett was interested in buying media companies in the 1980s. Why did he invest in Cap Cities through Berkshire?

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

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

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

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

10. Why did Buiffett invest in Salomon?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

What characteristics did Warren Buffett have as a child that exhibited his natural abilities for business? Was he preoccupied with money? Why or why not?

Essay Topic 2

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

Essay Topic 3

What are the points mentioned in Buffett's guide to selecting stocks? What kind of business did Buffett prefer? Why?

(see the answer keys)

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