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This quiz consists of 5 multiple choice and 5 short answer questions through Accounting and Valuation.

Multiple Choice Questions

1. Buffett's criteria measured _________ expectations of the highest after-tax returns to maximize net worth in the long run.
(a) Emotional.
(b) Accounting.
(c) Probable.
(d) Mathematical.

2. Buffett did not expand, borrow, or sell unless Berkshire received as much _________ as it gave.
(a) Value.
(b) Power.
(c) Promise.
(d) Dividends.

3. When did Berkshire Hathaway begin as a textile company?
(a) Early 1900s.
(b) 1967.
(c) Early 1800s.
(d) 1956.

4. What kind of pro told Buffett the piece of information that helped to guide them on the field?
(a) Football.
(b) Baseball.
(c) Soccer.
(d) Golf.

5. What was the title of Buffett in relation to his company?
(a) Owner.
(b) Vice-Chairman.
(c) President.
(d) Chairman.

Short Answer Questions

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

2. Buffett and Munger were often asked to ________ under the assumption it would benefit shareholders, but they disagree.

3. Buffett and Munger also followed the idea of minimal use of _______ and leverage, helping to create solid investments.

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

5. What was the name of the bank that had substantial equity interest in Berkshire?

(see the answer key)

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