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. Who is chairman of the Federal Reserve in 1979?
(a) Ben Bernanke.
(b) Paul Volcker.
(c) Alan Greenspan.
(d) Arthur F. Burns.

2. Lewis observes that the cruelty that traders bestow on everyone in their wake is _____.
(a) Personal.
(b) Ceremonial.
(c) Illegal.
(d) Permanent.

3. Lewis thinks Henry Kaufman is the guru of he bond market and also the _____ of Salomon Brothers.
(a) Heartbeat.
(b) Conscience.
(c) Htachet man.
(d) Driving force.

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

5. What does Lewis see as John Gutfreund's "calling card" as he makes his rounds in the trading floor?
(a) Coffee grounds.
(b) A slap on the back.
(c) A hand-written note.
(d) Cigar ash.

Short Answer Questions

1. Traders prove their superiority in a Wall Street firm every day by doing what?

2. According to Lewis, the better an analyst gets at his job, the nearer he seems to ______.

3. Rich Shuster is a thrift salesman in which Salomon Brothers office before coming to work for Ranieri?

4. In the bond market, unlike the stock market, ______ are not openly stated.

5. What is the name of the trainee who was a former U.S. Navy fighter pilot?

Short Essay Questions

1. In the training class, why does Lewis think Gutfreund looks the part of statesman?

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

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

4. What is the difference between managing and trading?

5. What happens as a result of the surge in the number of students who get economics degrees?

6. Why are corporate financiers considered wimps by traders?

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

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

9. Why is Lewie Ranieri so loyal to Salomon Brothers?

10. How does the author manage to get a connection into Salomon Brothers?

(see the answer keys)

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