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

Multiple Choice Questions

1. During what year were the Berkshire shares to be traded on the New York Stock Exchange?
(a) 1975.
(b) 1988.
(c) 1999.
(d) 1986.

2. Below investment grade bonds are generally called ________, since they are able to be transformed.
(a) Demons.
(b) Fallen angels.
(c) Junky bonds.
(d) Caterpillars.

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

4. The NYSE listing for Berkshire was thought to reduce _______ for shareholders by ensuring a narrow market maker spread.
(a) Price of stock.
(b) Variance.
(c) Transaction costs.
(d) Instability.

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

Short Answer Questions

1. What was coined as the term for the amount of undiscovered embezzlement?

2. How much profit did the new holding of Berkshire make for Buffett and Munger?

3. Some Berkshire insurance subsidiaries used _______ with its greater returns than to use Treasury Bils.

4. Buffett realized that it was helpful to be _________ when others were fearful in the market.

5. Buffett did not expand, borrow, or sell unless Berkshire received as much _________ as it gave.

(see the answer key)

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