Liar's Poker: Rising Through the Wreckage on Wall Street Test | Mid-Book Test - Medium

Michael Lewis (author)
This set of Lesson Plans consists of approximately 116 pages of tests, essay questions, lessons, and other teaching materials.
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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. A _____ of personal popularity is how Lewis thinks trainees are chosen by managers.
(a) Ponzi scheme.
(b) Bee's nest.
(c) Grand illusion.
(d) Cult.

2. What is another word for savings and loan?
(a) House bank.
(b) Thrift.
(c) Home store.
(d) Penny house.

3. In any market, as in any poker game, there is a ______.
(a) Sociopath.
(b) Scapegoat.
(c) Fool.
(d) Ringleader.

4. Which subway line drops off hoards of people to their Wall Street jobs?
(a) Belmont.
(b) Morris Heights.
(c) Bedford Park.
(d) Lexington Avenue.

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

Short Answer Questions

1. What dollar amount does Meriwether counter Gutfreund's bet with?

2. A trainee asks Horowitz about why the company's largest shareholder is from which country?

3. According to the book, investment banking candidates are expected to be _______.

4. The face of Dale Horowitz reminds the author of whom?

5. For a great player of Liar's Poker, ______ is the easy part of the game.

Short Essay Questions

1. What effect does allowing the back row of the Salomon Brothers training program to create anarchy have on the company?

2. What is meant by "no tears"?

3. What is the difference between managing and trading?

4. Why does the author pounce on the opportunity to work for Salomon Brothers like a loose ball?

5. What is the hard part of Liar's Poker?

6. Why are corporate financiers considered wimps by traders?

7. What is the "3-6-3 Club"?

8. How does the code of Liar's Poker affect a trader?

9. What do the trainees have planned for the morning Gutfreund is supposed to speak to the class?

10. Why is the treasury trader king at Salomon Brothers?

(see the answer keys)

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