|Name: _________________________||Period: ___________________|
This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.
Multiple Choice Questions
1. Who are the biggest shoppers for mortgage products?
(a) Foreign investors.
(b) Government agencies.
2. A carnival performer who bites the heads off live chickens and snakes is definition of a _____.
3. According to the author, what is the rarest and most valuable asset a Wall Street firm can possess?
(a) A high cash flow.
(b) A good manager.
(c) A Howie Ruben.
(d) A monopoly.
4. A sticking point in making mortgage securities work is the homeowner's right to _____ his mortgage.
(d) Default on.
5. What are the European genus, English species, of slick financial people called?
Short Answer Questions
1. In New York, when a trader is starting out, the excitement of being part of the action comes at the price _____.
2. Ranieri is the guru of the _____ industry.
3. Steve Roth and Scott Brittenham make millions of dollars trading _____.
4. What type of communication do the author and Dash launch into at the beginning of the work day?
5. Which country's interest rate is part of the deal for which "the opportunist" steals credit?
Short Essay Questions
1. How does Bear Stearns take the $250 million loss that Howie Rubin incurs at Merrill Lynch?
2. Does Michael Milken consider himself a part of Drexel Burnham?
3. What happens to the average age and the average age at Salomon Brothers in London in 1987?
4. What is happening in colleges in Britain by the end of 1986?
5. As the author gains more experience working in London, what does he think interests European traders that differs from American traders?
6. What is the particular need of thrifts in terms of investing in the mortgage bond market?
7. The author is convinced that the worst thing a man can do with a telephone without breaking the law is what?
8. Why do costs at Salomon Brothers seem to suddenly matter in 1985?
9. Despite the upheaval in the mortgage market, what is the initial objection that remains valid as the mortgage market evolves?
10. What is drifting away from Salomon Brothers and toward Drexel Burnham in 1987? Why?
This section contains 760 words
(approx. 3 pages at 300 words per page)