|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. In Chapter 1, there was exhaustion because the campaign had been how long?
(a) 6 months.
(b) 18 months.
(c) 12 months.
(d) 8 months.
2. The loans on the bottom tier of derivatives were referred to as what?
(b) Toxic waste.
(c) Bottom feeders.
(d) Top notch.
3. In finance, what occurs whenever the loan payment for any period is less than the interest charged over that period so that the outstanding balance of the loan increases?
(a) Inverted amortization.
(b) Negative securitization.
(c) Positive securitization.
(d) Negative amortization.
4. What was the name of Ayn Rand's circle of intellectuals which was dedicated to relentless self-interest?
(a) "The Vicious Circle."
(b) "The Collective."
(c) "The Circle."
(d) "The Caravan."
5. Before declaring bankruptcy, Lehman Brothers Holdings Inc. was ranked as the _________ largest investment bank in the United States.
Short Answer Questions
1. Eljon Williams and his wife were shocked when their mortgage went up over how much from one month to the next in Chapter 3?
2. When did Alan Greenspan earn his doctorate in economics?
3. When was Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History published?
4. Alan Greenspan was born in what area of New York City?
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 238 words
(approx. 1 page at 300 words per page)