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

2. Buffett's theory of trading is based on:

3. Mrs. B built her furniture store into the biggest furniture store in the:

4. Which of the following was not a reason why Warren didn't move to Southern California?

5. Mrs. B began in the furniture business by:

Short Essay Questions

1. Buffett's career was based on the Graham and Dodds theory of investing. What are the basis of Buffet's beliefs based on the teachings of Graham and Dodds?

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

3. What did Buffett do with his textile mills?

4. What was the newer Efficient Market Theory?

5. What stock did Buffett begin purchasing in 1988?

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

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

8. What was the effect of irregularities in the bond trading by Salomon on traders?

9. Salomon became the object of an SEC and Justice Department investigation because of their bond trading. What did they do?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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

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 do you think of Warren Buffett as a person, given what you have learned during the unit on this book? Do you think he is basically a good person? Why or why not? What aspects of Buffett don't you like?

(see the answer keys)

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