The Big Short: Inside the Doomsday Machine Quiz | Eight Week Quiz C

Michael Lewis (author)
This set of Lesson Plans consists of approximately 132 pages of tests, essay questions, lessons, and other teaching materials.
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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 4-5.

Multiple Choice Questions

1. What does CDO stand for?
(a) Client debt options.
(b) Collateralized debt obligations.
(c) Calculated debt options.
(d) Common debt obligations.

2. The woman who stated that her supervisors picked and chose which mortgage bonds would be triple-A rated despite her frequent recommendations that most of them be downgraded worked for what company in Chapter 4?
(a) Moody's Corporation.
(b) Deutsche Bank.
(c) Standard & Poor's.
(d) Wachovia.

3. What are bonds that are made up of mortgages sold to consumers by banks?
(a) Optimum bonds.
(b) Mortgage rate stocks.
(c) Subprime bonds.
(d) Mortgage bonds.

4. With Ben Hockett's help, Cornwall received what contract?
(a) ISDA.
(b) BYR.
(c) JRCA.
(d) CDO.

5. Michael Burry could not bet against mortgage bonds in the same way he could other bonds because he could not short houses, only what?
(a) House builders.
(b) Government buildings.
(c) Construction workers.
(d) Commercial buildings.

Short Answer Questions

1. During their research, Ledley and Mai discovered that many CDOs were comprised of triple-B rated mortgages being sold as what?

2. In 2007, Meredith Whitney announced that what company had so mismanaged its affairs that it would slash its dividend or crash?

3. What is the title of Chapter 5?

4. Who offered Michael Burry bonds at $100 million a deal in Chapter 2?

5. Who went to a conference of subprime mortgage bond professionals and learned from a woman that her supervisors picked and chose which mortgage bonds would be triple-A rated despite her frequent recommendations that most of them be downgraded?

(see the answer key)

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