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This quiz consists of 5 multiple choice and 5 short answer questions through When Bad Things Happen to Rich People.

Multiple Choice Questions

1. The senior mortgage traders maintain that their abuse of trainees leads to _____.
(a) Lawsuits.
(b) Better workers.
(c) More money.
(d) Enlightenment.

2. According to the author, what is the rarest and most valuable asset a Wall Street firm can possess?
(a) A monopoly.
(b) A good manager.
(c) A Howie Ruben.
(d) A high cash flow.

3. According to the author, in order for the home mortgage to become a bond, it has to be _____.
(a) Reversed.
(b) Depersonalized.
(c) Inflated.
(d) Refinanced.

4. According to the book, investment banking candidates are expected to be _______.
(a) Culturally literate.
(b) Open-minded.
(c) Brash.
(d) Intellectuals.

5. In 1986, forty percent of Yale's graduating class apply to which bank?
(a) Lehman Brothers.
(b) First Boston.
(c) Shearson.
(d) Citibank.

Short Answer Questions

1. Steve Roth and Scott Brittenham make millions of dollars trading _____.

2. By definition, an analyst's job lasts how long?

3. What is a short-term loan called like the one that Salomon Brothers and Goldman Sachs extends to the Southland Corporation so that management can buy out the company?

4. Most of the trainees in the training program to which the author speaks at the end of the book are assigned to which department at Salomon Brothers?

5. How much debt does the savings and loan companies seem to want to sell in 1981?

(see the answer key)

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