Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History Test | Mid-Book Test - Easy

Matt Taibbi
This set of Lesson Plans consists of approximately 129 pages of tests, essay questions, lessons, and other teaching materials.
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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Eljon Williams learned that the firm which helped him obtain a mortgage had gotten a commission of how much money?
(a) $12,000.
(b) $10,000.
(c) $5,000.
(d) $8,000.

2. In Atlas Shrugged, a group of men break off on their own and form __________.
(a) A Socialist society.
(b) A Communist society.
(c) A dystopian society.
(d) A free-market society.

3. What refers to the idea of a society in a repressive and controlled state, often under the guise of being Utopian?
(a) Democracy.
(b) Socialism.
(c) Communism.
(d) Dystopia.

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

5. Before declaring bankruptcy, Lehman Brothers Holdings Inc. was ranked as the _________ largest investment bank in the United States.
(a) Fourth.
(b) Third.
(c) Second.
(d) First.

6. In Chapter 3, what process in which loans are split up and sold off to secondary investors as securities was used by banks?
(a) Derivatives.
(b) Authorization.
(c) Amortization.
(d) Securitization.

7. Who appointed Alan Greenspan as the Federal Reserve chairman?
(a) Ronald Reagan.
(b) Bill Clinton.
(c) George W. Bush.
(d) George H. Bush.

8. T-Bills mature in what time?
(a) 2 years.
(b) 5 years or more.
(c) 1 year or less.
(d) 10 years or less.

9. Eljon Williams and his wife were shocked when their mortgage went up over how much from one month to the next in Chapter 3?
(a) $500.
(b) $300.
(c) $100.
(d) $200.

10. Where did Alan Greenspan study clarinet from 1943 to 1944?
(a) The Juilliard School.
(b) New York University.
(c) Harvard University.
(d) Boston College.

11. The Tea Party movement is an American populist political movement that has sponsored protests and supported political candidates since what year?
(a) 2010.
(b) 2008.
(c) 2009.
(d) 2008.

12. Since 2002, Deutsche Bank's Chief Executive Officer and Chairman of the Group Executive Committee has been __________.
(a) Jan Leys.
(b) Josef Ackermann.
(c) Michel Slosovik.
(d) Joel Hosey.

13. Who was Vice President to Richard Nixon?
(a) Ronald Reagan.
(b) Spiro Agnew.
(c) Lyndon Johnson.
(d) George H. Bush.

14. 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) Ponzi scheme.
(b) Derivitaves market.
(c) Unsubsidized loans.
(d) Subsidized market.

15. What refers to trade in high volumes at prices that are considerably at variance with intrinsic values?
(a) Socialism.
(b) Capitalism.
(c) Bubble economy.
(d) Free-market economics.

Short Answer Questions

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

2. What does AIG stand for?

3. What is a public company that provides analytics and decision making services intended to help financial services companies make complex, high-volume decisions?

4. Alan Greenspan recommended the Reagan era increase in Social Security tax, and the rate went from 9.35% to ___________.

5. Of what descent was Alan Greenspan's father?

(see the answer keys)

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