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

Michael Lewis (author)
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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 4-5.

Multiple Choice Questions

1. In finance, what occurs when a debtor has not met his or her legal obligations according to the debt contract?
(a) Forclosure.
(b) Repossesion.
(c) Default.
(d) Refinancing.

2. 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?
(a) Vincent Daniel.
(b) Steve Eisman.
(c) Ernestine Warner.
(d) Jamie Mai.

3. Who was Gene Park's boss in Chapter 4?
(a) Joe Cassano.
(b) Theodore Williams.
(c) Amos Robinson.
(d) John Weatherfield.

4. Through the use of what, was Michael Burry guaranteed to only lose only the amount of the premium payments in Chapter 2?
(a) CDSs.
(b) ISDAs.
(c) Tranches.
(d) CDOs.

5. Where did Michael Lewis earn his Masters degree in Economics?
(a) The London School of Economics.
(b) The Paris School of Economics.
(c) The New York School of Economics.
(d) The Chicago School of Economics.

Short Answer Questions

1. In Chapter 5, Ledley and Mai bought multi-million dollar triple-A CDOs rather than the triple-B CDOs who had purchased?

2. What is the name of the investment group begun by Charlie Ledley and his partner in Chapter 5?

3. What companies approached Michael Burry and provided him with capital to begin his new company?

4. Where did Ben Hockett live and make investments from in Chapter 5?

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?

(see the answer key)

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