Liar's Poker: Rising Through the Wreckage on Wall Street Test | Final Test - Easy

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

Multiple Choice Questions

1. On Wall Street, there is no theoretical basis for pricing a homeowner's option to _____ his loan.
(a) Default on.
(b) Repay.
(c) Inflate.
(d) Refinance.

2. CMO's are divided into slices, or _____.
(a) Branches.
(b) Tranches.
(c) Compartments.
(d) Departments.

3. Which country's interest rate is part of the deal for which "the opportunist" steals credit?
(a) England.
(b) Thailand.
(c) Italy.
(d) Germany.

4. What type of ideas does Herman want for his investment?
(a) Smart.
(b) Ancient.
(c) Gut.
(d) Current.

5. What author does the author recommend to his Prussian colleagues?
(a) Sun-Tzu.
(b) John Suskind.
(c) Anthony Robbins.
(d) Dale Carnegie.

6. The author considers Bill Voute a _____.
(a) Derelict.
(b) Shyster.
(c) Mystery.
(d) King.

7. According to the author, investors don't fear losing money as much as they fear _____?
(a) Solitude.
(b) Math.
(c) Dogma.
(d) Ridicule.

8. To create a CMO, hundreds of millions of dollars in ordinary mortgage bonds are placed in a _____.
(a) Certificate of Deposit.
(b) Pension fund.
(c) Trust.
(d) Retirement account.

9. What is the name given to the junk bond seminar that Michael Milken speaks at every year in Beverly Hills?
(a) The Junker's Ball.
(b) The Golden Parachute.
(c) TheMoney Masquerade.
(d) The Predator's Ball.

10. What are the bonds of one-time blue-chip companies called?
(a) Second-string bonds.
(b) Fallen angels.
(c) Convertible bonds.
(d) Loss leaders.

11. Gutfreund is treated like a _____ in London.
(a) Gauche American tourist.
(b) Crazy uncle.
(c) King.
(d) Brother.

12. What is the word that means trading riskily for profit?
(a) Selling short.
(b) Swapping.
(c) Arbitrage.
(d) Arbitration.

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

14. What is jargon for a gamble that is sure to succeed?
(a) A touchdown.
(b) A lay-up.
(c) A field goal.
(d) A home run.

15. The quote in "The Art of War" that captures the essence of the chapter is "God gave you eyes, _____."
(a) Plagiarize.
(b) Look ahead.
(c) Plot their demise.
(d) Watch your back.

Short Answer Questions

1. Who writes the book, On War?

2. Tokyo is seemingly the obvious site for Salomon Brothers' global expansion because of Japan's _____.

3. What is the primary aspect of business that always matters most at Salomon Brothers?

4. Michael Milken works for which company?

5. What is the biggest most expensive real estate project in Manhattan on which Salomon Brothers bails out at a $107 million loss?

(see the answer keys)

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