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. What majority-owned subsidiary of Fimalac, S.A., is a global rating agency dedicated to providing value beyond the rating through independent and prospective credit opinions, research and data?
(a) The Fitch Group.
(b) Deutsche Bank.
(c) Standard & Poor's.
(d) Wachovia.

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

3. The alterations to bond ratings made by mortgage lenders in Chapter 4 led to such things as lending how much money to a migrant worker who made only $14,000 a year?
(a) $500 thousand.
(b) $700 thousand.
(c) $150 thousand.
(d) $350 thousand.

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

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

Short Answer Questions

1. For what company did Ben Hockett work when he met Jamie Mai?

2. What is the name of the investment group Steve Eisman formed after quitting his job as a bond analyst?

3. What did Michael Burry study in college?

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

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

Short Essay Questions

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

2. How did Steve Eisman come to work for Oppenheimer Co.? How is he described?

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

4. What did Ledley and Mai discover about CDOs and CDSs in Chapter 5?

5. How did Greg Lippmann believe he could make a fortune in the subprime mortgage industry in Chapter 3?

6. What was AIG FP's role in the stock market crash, as described in Chapter 3?

7. What did Steve Eisman discover about Household Finance Corporation in Chapter 1?

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

9. What patterns did Steve Eisman's team discover in mortgage trading in Chapter 4?

10. With whom did Charley Ledley work in New York? What individual did he meet from Berkeley, California in Chapter 5?

(see the answer keys)

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