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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. Morgan Stanley lost more than how much on Hubler's CDO deals, as described in Chapter 9?
(a) $9 billion.
(b) $5 billion.
(c) $3 billion.
(d) $4 billion.

2. To what floor did Howie Hubler move after making a unique deal with his company in Chapter 9?
(a) 16th.
(b) 21st.
(c) 10th.
(d) 26th.

3. What is a spectrum of psychological conditions characterized by widespread abnormalities of social interactions and communication, as well as restricted interests and repetitive behavior?
(a) Schizophenic spectrum.
(b) ADHD.
(c) The Asperger spectrum.
(d) The autism spectrum.

4. In Chapter 9 the author writes that it became apparent that no one at Morgan Stanley fully understood the CDO deals, including who?
(a) Michael Ewing.
(b) Jim Beaston.
(c) John Mack.
(d) James Wilson.

5. Reluctant to lose out on what Michael Burry was convinced would be a profitable investment, what did he do with his CDSs to keep his investors from taking their money back in Chapter 8?
(a) Sold them.
(b) Side pocketed them.
(c) Bought them.
(d) Released them.

Short Answer Questions

1. What online database is maintained by the SEC from which investors can access information filed with the agency?

2. What does FINRA stand for?

3. When did Morgan Stanley purchase Smith Barney from Citigroup?

4. What is the title of Chapter 6?

5. What is the central banking system of the United States?

Short Essay Questions

1. Who does the author describe meeting for lunch in the Epilogue?

2. How much did Mike Burry make from his CDSs in Chapter 9? What was his outcome?

3. Who took the hardest hit from the mortgage crisis, according to the author in his conclusion of the book?

4. What took place as Steve Eisman gave a speech in Chapter 10?

5. Who courted Charlie Ledley at the conference in Chapter 6? What was Ledley's objective at the conference?

6. What impact did the conference have on Cornwall Capital Management in Chapter 7?

7. What actions from the 1980s does the author describe as leading up to the mortgage crisis in the Epilogue?

8. Who attended the conference described in Chapter 6? Where was it held?

9. What did Morgan Stanley offer Howie Hubler in Chapter 9?

10. What information did Steve Eisman discover about the rating companies in Chapter 7?

(see the answer keys)

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