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This quiz consists of 5 multiple choice and 5 short answer questions through Mergers and Acquisitions.

Multiple Choice Questions

1. Value came from a fixed-income feature to set minimum value with __________ as a bonus.
(a) A good economy.
(b) Conversion.
(c) A unique product.
(d) A strong management team.

2. Buffett and Munger promised to provide sufficient additional _______ to evaluate true results.
(a) Information.
(b) Funding.
(c) Research.
(d) Shareholders.

3. Buffett and Munger saw themselves as general _______ responsible to other shareholders.
(a) Guides.
(b) Managers.
(c) Professors.
(d) Partners.

4. Berkshire is too well developed and managed to add intrinsic business value with new ___________ paid for with common stock.
(a) Selloffs.
(b) Acquisitions.
(c) Notes.
(d) Bonds.

5. The _______ doesn't feel poorer when the embezzler is getting richer.
(a) Victim.
(b) Market.
(c) Country.
(d) Government.

Short Answer Questions

1. A bond is _______ with regular payment of interest and repayment of principle.

2. What did the zero-coupon bonds not pay to the investor in the end?

3. Most Berkshire _______ had their net worth invested primarily in the company.

4. The partners were also interested in firms that had extraordinary ________ talent exhibiting skillful executive achievement.

5. The bonds that Buffett decides to buy in 1989 were thought to be ________, but turn out to be fallen angels.

(see the answer key)

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