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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. According to the author, all a man has in the markets is his _____.
(a) Wits.
(b) Drive and determination.
(c) Word and honor.
(d) Gall.

2. What is photocopied 126 times from The New York Times and distributed among the trainees each morning?
(a) The comic section.
(b) The crossword puzzle.
(c) The business section.
(d) The front page.

3. According to the author, what is Gutfreund's only noticeable affectation when he comes to speak to the trainees?
(a) A German accent.
(b) An exaggerated posture.
(c) A demure concern.
(d) A statesmanlike calmness.

4. With whom has the author received an invitation to dine?
(a) Queen Elizabeth II.
(b) The queen mother.
(c) Lady Diana.
(d) Prince Charles.

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

6. Wall Street has a river at one end and a ______ at the other.
(a) Cesspool.
(b) Pot of gold.
(c) Graveyard.
(d) Train station.

7. A row of Bic fine-point pens in a plastic case in the breast pocket of someone who works on Wall Street is commonly called a _____.
(a) Cigarette pack.
(b) Platoon.
(c) Badge of honor.
(d) Nerd pack.

8. Lewis sees John Meriwether as successful because he has the uncanny ability to do what?
(a) Time his trades.
(b) Hide his state of mind.
(c) Avoid bad press.
(d) Hide money.

9. What is the initial bet that Gutfreund proposes to Meriwether for Liar's Poker?
(a) One dollar.
(b) A year's pay.
(c) A million dollars.
(d) Forty thousand dollars.

10. As Lewis gets more experience at Salomon Brothers, he realizes that an inexplicable aspect of studying to be an investment banker is that _______ serves no function in an investment bank.
(a) Economic theory.
(b) Politeness.
(c) A college degree.
(d) Making plans.

11. The author notices that young traders become _____ after they get onto Meriwether's trading desk.
(a) Disciples.
(b) Intellectuals.
(c) Hysterical.
(d) Pudding.

12. There are 287 books about bonds in the New York Public Library and most of them are about _____.
(a) A British spy.
(b) Family ties.
(c) Junk Bonds.
(d) Chemistry.

13. What sort of important dinner is the author invited to attend?
(a) A fund raiser.
(b) A head-hunting dinner.
(c) A celebrity dinner.
(d) A company dinner for Salomon Brothers.

14. What is the nickname of Horowitz?
(a) Papa Horowitz.
(b) The hatchet man.
(c) Uncle Dale.
(d) The Jackknife.

15. Gutfreund's wife, Susan, is spending fifteen million dollars decorating his ______ apartment.
(a) Long Island.
(b) Manhattan.
(c) Paris
(d) London

Short Answer Questions

1. The back row trainees at Solomon Brothers are victims of the myth that a trader is a _____.

2. Jim Massey is considered Gutfreund's _____.

3. In 1979, which company specializes in junk bonds?

4. More than any other firm on Wall Street, Salomon Brothers is run by _______.

5. A _____ of personal popularity is how Lewis thinks trainees are chosen by managers.

(see the answer keys)

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