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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. On the other hand, a zero bond may not require _________, but can be satisfied with pay in kind bonds.
(a) Cashouts.
(b) Papers.
(c) Interest payments.
(d) Legal help.

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

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

4. Berkshire's board included a controlling ________, in which other board members could persuade others to make changes.
(a) Competitor.
(b) Owner.
(c) Shareholder.
(d) Outsider.

5. Who was the financial mentor that Buffett relied upon for his teachings and lessons about the way to do business?
(a) No one.
(b) Ben Graham.
(c) Charlie Munger.
(d) Himself.

Short Answer Questions

1. Preferred stock is considered with _________ that Munger and Buffett like, admire, and trust.

2. Buffett and his partner preferred to buy a company at a fair price at _______% interest.

3. What was the title of Buffett in relation to his company?

4. Buffett and Munger invested based on company operating results and not on ____________.

5. Berkshire invested in companies with excellent economic prospects and outstanding __________.

(see the answer key)

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