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. Gutfreund's first love is ______.
(a) Philosophizing.
(b) Managing.
(c) Trading.
(d) Posing for photo ops.

2. Jim Massey is considered Gutfreund's _____.
(a) Hatchet man.
(b) Prodigal son.
(c) Confidante.
(d) Arch enemy.

3. The author characterizes the people initially involved in home mortgages as ______.
(a) Corn farmers.
(b) Sheep ranchers.
(c) Shoe salesmen.
(d) Burger flippers.

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

5. For the author, the stigma of getting a job through connections is worse than the stigma of ______.
(a) Waiting tables.
(b) Unemployment.
(c) Starting at the bottom.
(d) Getting a PhD.

Short Answer Questions

1. Lewis sees John Meriwether as successful because he has the uncanny ability to do what?

2. 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 _____.

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

4. According to the author, in order for the home mortgage to become a bond, it has to be _____.

5. Who is considered the baby-sitter and organizer of the training program?

Short Essay Questions

1. Why does one of the female trainees become the first person to finally talk to the author in the training program at Salomon Brothers?

2. How is trading supposedly like the jungle?

3. What is the difference between managing and trading?

4. Why is a single home mortgage considered a messy investment for Wall Street?

5. How does Meriwether beat Gutfreund before the game of Liar's Poker even starts?

6. What is meant by "no tears"?

7. What happens when the author has breakfast with Leo Corbett?

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

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

10. What is unfortunate about the position Susan James has acquired at Salomon Brothers?

(see the answer keys)

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