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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. 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) Subsidized market.
(c) Unsubsidized loans.
(d) Ponzi scheme.

2. What refers to a numerical expression based on a statistical analysis of a person's credit files that represents the creditworthiness of that person?
(a) Credit annuity.
(b) Stock score.
(c) Stock portfolio.
(d) Credit score.

3. According to the author, the Tea Party believes that the economy is self-correcting as long as commerce and _______ are separated.
(a) Derivatives.
(b) Business.
(c) Government.
(d) Socialism.

4. When was Alan Greenspan born?
(a) 1926.
(b) 1940.
(c) 1911.
(d) 1953.

5. What refers to an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities?
(a) Federal Reserve.
(b) Bond market.
(c) Stock exchange.
(d) Treasury market.

Short Answer Questions

1. Where was Ayn Rand born?

2. What was the name of Ayn Rand's circle of intellectuals which was dedicated to relentless self-interest?

3. What refers to trade in high volumes at prices that are considerably at variance with intrinsic values?

4. During what years was Ronald Reagan President of the United States?

5. Eljon Williams contacted what firm to help him get a home loan with a fixed mortgage?

(see the answer key)

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