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. When did Alan Greenspan earn his doctorate in economics?
(a) 1982.
(b) 1959.
(c) 1970.
(d) 1977.

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

3. 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.

4. Of what political party was Ronald Reagan a member?
(a) Tea Party.
(b) Democrat.
(c) Green Party.
(d) Republican.

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

6. Where did Alan Greenspan earn a B.S. degree in economics summa cum laude?
(a) Harvard University.
(b) Princeton University.
(c) New York University.
(d) Yale University.

7. 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?
(a) Derivatives market.
(b) Speculative market.
(c) Stock market.
(d) Bond market.

8. Ronald Reagan was the thirty-third governor of what state?
(a) California.
(b) Arizona.
(c) Washington.
(d) Texas.

9. According to the author, in his years of power, Alan Greenspan was able to turn the Federal Reserve into what?
(a) An establishment for the poor.
(b) A bail-out mechanism for the ultra-rich.
(c) A place of integrity and fairness.
(d) A Socialist mechanism.

10. 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?
(a) Derivatives.
(b) Credit default swap.
(c) Free trade.
(d) Tranch default swap.

11. What refers to a market for securities (debt or equity), where business enterprises and governments can raise long-term funds?
(a) Subsidy market.
(b) Bond market.
(c) Capital market.
(d) Derivatives market.

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

13. When was The Fountainhead published?
(a) 1967.
(b) 1941.
(c) 1954.
(d) 1943.

14. What do T-Bills refer to?
(a) Tranche bills.
(b) Trade bills.
(c) Tendered bills.
(d) Treasury bills.

15. Who is the protagonist of The Fountainhead?
(a) John Gatsby.
(b) Howard Roark.
(c) Dagny Taggart.
(d) Sarah Anderson.

Short Answer Questions

1. What are created when banks split their mortgage loan payments into three levels and sell them in separate packages?

2. Eljon Williams and his wife were shocked when their mortgage went up over how much from one month to the next in Chapter 3?

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. In 2002, less than how much worth of subprime loans was approved?

5. In Atlas Shrugged, a group of men break off on their own and form __________.

(see the answer keys)

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