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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 is the title of Chapter 9?
(a) A Death of Interest.
(b) Bottom of the Bag.
(c) Two Men in a Boat.
(d) The End of Wall Street.

2. Who was the head of Salomon Brothers' mortgage department in the 1980s and featured in the book Liar's Poker?
(a) Michael Lewis.
(b) James Lewis.
(c) Andrew Jackson.
(d) Lewis Ranieri.

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

4. Where was the conference for subprime mortgage bond salesmen and buyers in Chapter 6?
(a) Miami.
(b) New York.
(c) Las Vegas.
(d) Chicago.

5. Howie Hubler was a bond trader for what company in Chapter 9?
(a) Wachovia.
(b) Merrill Lynch.
(c) Bear Sterns.
(d) Morgan Stanley.

Short Answer Questions

1. What does the SEC refer to?

2. Where is Morgan Stanley headquartered?

3. What company fell after Bear Sterns in Chapter 10?

4. What is the title of Chapter 6?

5. When did FrontPoint close its health fund in amid accusations of insider trading and an FBI probe?

Short Essay Questions

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

2. How many CDOs did Cornwall Capital Management acquire after the conference in Chapter 7?

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

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

5. What is a CDS?

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

7. What fraudulent actions did Mike Burry take in Chapter 8? Why?

8. What investors did Scion Capital face losing in Chapter 8? Why?

9. For how much did Morgan Stanley settle on the CDOs in Chapter 9?

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

(see the answer keys)

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