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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 3: Hot Potato, The Great American Mortgage Scam.

Multiple Choice Questions

1. When was Ayn Rand born?
(a) 1905.
(b) 1930.
(c) 1925.
(d) 1915.

2. By 2005, there was over how much money in subprime loans approved?
(a) $500 billion.
(b) $600 billion.
(c) $800 billion.
(d) $300 million.

3. What refers to a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation?
(a) Derivitaves market.
(b) Ponzi scheme.
(c) Unsubsidized loans.
(d) Subsidized market.

4. What are created when banks split their mortgage loan payments into three levels and sell them in separate packages?
(a) Tranch blocks.
(b) Incidentals.
(c) Collectives.
(d) Derivatives.

5. When was Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History published?
(a) December, 2009.
(b) October, 2009.
(c) September, 2011.
(d) September, 2008.

Short Answer Questions

1. What refers to an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities?

2. Ronald Reagan was the thirty-third governor of what state?

3. Who was Vice President to Richard Nixon?

4. Who is the protagonist of The Fountainhead?

5. When was Alan Greenspan born?

(see the answer key)

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