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This quiz consists of 5 multiple choice and 5 short answer questions through Common Stock.

Multiple Choice Questions

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

2. Buffett and Munger believed that investors should pay attention to business results, not __________.
(a) Other shareholders.
(b) Their reports.
(c) Market fluctuations.
(d) Market prices.

3. Buffett and Munger bought _________ companies the same way they might buy private companies.
(a) Corporate.
(b) Small.
(c) Large.
(d) Public.

4. Many stocks had a _______, like Coca-Cola, but none have the same market share.
(a) Beta.
(b) Manner.
(c) Risk.
(d) Price.

5. Buffett and Munger invested based on company operating results and not on ____________.
(a) Profit margins.
(b) Shareholder opinion.
(c) The stock market.
(d) Price quotes.

Short Answer Questions

1. Buffett preferred to trade a narrow range around _________ business value to favor long-term owners.

2. Keynes stated: "The right method of investment is to put fairly large sums of money into enterprises which one thinks one knows something about and in the ________ of which one thoroughly believes."

3. Munger and Buffett act like ________ when it comes to considering the economic prospects of the businesses they buy.

4. Buffett managed by ________-related business principles, according to the book.

5. The $70B enterprise that Buffett and his partner buy includes GEICO and ________ corporation.

(see the answer key)

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