The Big Short: Inside the Doomsday Machine Test | Mid-Book Test - Easy

Michael Lewis (author)
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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Gene Park discovered that the CDSs being sold by his company contained more what than anyone knew?
(a) Subprime mortgage bonds.
(b) Car loans.
(c) Grain futures.
(d) Precious metals.

2. With the creation of ______, mortgage companies became inspired to grow quickly and offer a great many loans to customers.
(a) FICO Scores.
(b) Moody's.
(c) Standard & Poor's.
(d) Mortgage bonds.

3. In Michael Burry's first credit default swap, he bought how many bonds?
(a) 6.
(b) 12.
(c) 10.
(d) 15.

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

5. In whose garage did Charlie Ledley begin operating a hedge fund in Chapter 5?
(a) Jamie Mai's.
(b) Mike Burry's.
(c) Steve Eisman's.
(d) Greg Lippmann's.

6. What is the name of Mike Burry's investment group?
(a) Oppenheimer and Co.
(b) Scion Capital.
(c) Cornwall Capital Management.
(d) Moody's.

7. What led Michael Burry to leave his original profession and become a money manager?
(a) His father's death.
(b) His daughter's birth.
(c) His wife's death.
(d) His son's birth.

8. What was Michael Lewis' first book?
(a) Stock Junkies.
(b) Digital Money.
(c) Liar's Poker.
(d) Trade or Die.

9. In what year did Steve Eisman stop working as an analyst and start his own hedge fund?
(a) 1997.
(b) 1992.
(c) 1988.
(d) 2004.

10. For what company did Ben Hockett work when he met Jamie Mai?
(a) Deutsche Bank.
(b) Standard & Poor's.
(c) AIG FP.
(d) Oppenheimer and Co.

11. What are divisions of mortgage bonds in which the mortgage bonds are divided into pieces?
(a) Credit default swap.
(b) Collateral debt obligation.
(c) FICO Scores.
(d) Tranches.

12. When did money manager Michael Burry become interested in bonds?
(a) 2000.
(b) 1996.
(c) 2002.
(d) 2004.

13. Where did Michael Lewis grow up?
(a) Dallas, Texas.
(b) Denver, Colorado.
(c) New Orleans, Louisiana.
(d) Phoenix, Arizona.

14. 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) Government buildings.
(b) Construction workers.
(c) Commercial buildings.
(d) House builders.

15. What refers to loans made to customers with less than perfect credit?
(a) Subprime.
(b) Gambles.
(c) CDS's.
(d) High interest.

Short Answer Questions

1. When was Michael Burry born?

2. Steve Eisman got his job with Oppenheimer and Co. through whom?

3. What had Michael Burry's father warned him to stay away from in Chapter 2?

4. Where did Michael Lewis earn his Masters degree in Economics?

5. How old was Charlie Ledley when he moved to California to create a hedge fund?

(see the answer keys)

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