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

Michael Lewis (author)
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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. Where did Michael Burry share his thoughts on investing while learning what he could from others in Chapter 2?
(a) Seminars.
(b) Church.
(c) Wall street.
(d) Online social networks.

2. What does CDS stand for?
(a) Credit default swap.
(b) Consumer data system.
(c) Commercial data systems.
(d) Credit foreclosure systems.

3. Who from Deutsche Bank asked if they could buy the swaps back from Michael Burry in Chapter 2?
(a) Meredith Whitney.
(b) Euguene Xu.
(c) Michael Lewis.
(d) Greg Lippman.

4. In Chapter 4, AIG FP did not get whose message as he assumed they had?
(a) Ace Greenburg's.
(b) Michael Lewis'.
(c) Greg Lippmann's.
(d) Ben Hockett's.

5. When was Michael Lewis' first book published?
(a) 1989.
(b) 1985.
(c) 1979.
(d) 1983.

Short Answer Questions

1. Through the use of what, was Michael Burry guaranteed to only lose only the amount of the premium payments in Chapter 2?

2. Where did Michael Lewis grow up?

3. Michael Burry lost his left eye due to what as a toddler?

4. Who thought that if AIG stopped buying the bonds, the subprime mortgage bond market would collapse, making him a fortune in Chapter 3?

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

Short Essay Questions

1. What important individuals and concepts are introduced in Chapter 1?

2. Who was the only person at AIG FP to investigate the company's CDSs in Chapter 4? What did he discover?

3. How did Charlie Ledley enter the bond market in Chapter 5?

4. What led to mortgage companies extending loans to unreliable clients, as described in Chapter 1?

5. What did Steve Eisman's team conclude after analyzing the mortgage data in Chapter 4?

6. What drew Mike Burry to an interest in CDSs?

7. How did Charlie Ledley's first investment pay out? What was the company's worth?

8. How did Cornwall Capital Management secure an ISDA? What did this mean for the company?

9. What picture does the author paint of Steve Eisman and Wall Street in 2005 in Chapter 1?

10. What did Goldman Sachs begin doing with their bottom tranches in Chapter 3?

(see the answer keys)

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