|Name: _________________________||Period: ___________________|
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. What does NINJA stand for in the mortgage industry?
(a) No incidental job or abilities.
(b) No income, job, or assets.
(c) No income, job, or allocations.
(d) No indictments, job, or allimony.
2. What was the name of Ayn Rand's circle of intellectuals which was dedicated to relentless self-interest?
(a) "The Collective."
(b) "The Circle."
(c) "The Vicious Circle."
(d) "The Caravan."
3. What do T-Bills refer to?
(a) Trade bills.
(b) Tranche bills.
(c) Treasury bills.
(d) Tendered bills.
4. Eljon Williams contacted what firm to help him get a home loan with a fixed mortgage?
(b) Merrill Lynch.
(d) Solomon Edwards.
5. What is a public company that provides analytics and decision making services intended to help financial services companies make complex, high-volume decisions?
(d) The Federal Reserve.
Short Answer Questions
1. What refers to the idea of a society in a repressive and controlled state, often under the guise of being Utopian?
2. Of what political party was Ronald Reagan a member?
3. What refers to a financial market where participants can issue new debt, known as the Primary market, or buy and sell debt securities, known as the Secondary market, usually in the form of bonds?
4. In what year was Sarah Palin a candidate for Vice President of the United States?
5. What involves an exchange of the defaulted loan instrument (and with it the right to recover the default loan at some later time) for immediate money - usually the face value of the loan?
This section contains 257 words
(approx. 1 page at 300 words per page)