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

Multiple Choice Questions

1. The long-term economic goal was to maximize per-share average annual rate of gain at ______% of the intrinsic business value.
(a) 15.
(b) 12.
(c) 50.
(d) 20.

2. Which state was Buffett worried about in terms of its ability to create good investments for his company?
(a) California.
(b) Alabama.
(c) Illinois.
(d) Hawaii.

3. Berkshire invested in companies with excellent economic prospects and outstanding __________.
(a) Ideas.
(b) Stock prices.
(c) Managers.
(d) Websites.

4. The content of the book was often used as a standard text at the Cardozo School of __________.
(a) Engineering.
(b) Law.
(c) Business.
(d) Medicine.

5. What were the name of the bonds that were issued during WWI?
(a) Series E.
(b) Series B.
(c) Series II.
(d) IRA.

Short Answer Questions

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

2. Buffett and Munger saw themselves as general _______ responsible to other shareholders.

3. What is NOT one of the companies listed as having the management requirements that Buffett and Munger want to see?

4. Popular theory at the time said that the market was totally efficient at _________ investment.

5. Buffett's long term economic goal was to maximize per share _________ value of Berkshire stock by owning a diversified group of businesses.

(see the answer key)

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