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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. Cornwall Capital Management began quickly selling their CDOs in Chapter 9 because they were suddenly concerned with whose ability to pay?
(a) Merrill Lynch's.
(b) Bear Stearns'.
(c) Citigroup's.
(d) Wachovia's.

2. When was the Morgan Stanley corporation founded?
(a) 1950.
(b) 1947.
(c) 1942.
(d) 1935.

3. What is the title of Chapter 10?
(a) Two Men in a Boat.
(b) The End of Wall Street.
(c) Tidal Wave of Trouble.
(d) The Fall.

4. Howie Hubler decided to find a way to bet against mortgage bonds and in doing so began forming what, which he sold to what he thought were ignorant investors?
(a) CDSs.
(b) CFSs.
(c) CEOs.
(d) CDOs.

5. When was Eisman invited to make a speech to support a quickly flagging Wall Street firm in Chapter 10?
(a) October 22, 2007.
(b) June 3, 2007.
(c) March 14, 2008.
(d) January 5, 2008.

Short Answer Questions

1. In Chapter 7, Steve Eisman learned that the rating companies were working with the same information as who?

2. In Chapter 6, Eisman realized that the CDO manager sitting next to him was selling CDOs that were synthesized from what?

3. During Eisman's speech for a quickly flagging Wall Street firm in Chapter 10, stocks in the company fell by more than how many points?

4. John Gutfreund openly blames Michael Lewis for what?

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

Short Essay Questions

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

2. When did Howie Hubler disappear? How much did Morgan Stanley lose from his actions?

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

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

5. What eventually led to Morgan Stanley questioning the actions of Howie Hubler?

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

7. Why did Mike Burry's reports to investors appear bleak in Chapter 8?

8. What role did Ben Hockett play in the success of Cornwall Capital Management?

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

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

(see the answer keys)

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