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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 8-9.

Multiple Choice Questions

1. When did FAS 157 become effective?
(a) May 9, 2006
(b) August 1, 2004
(c) November 15, 2007
(d) June 28, 2005

2. Hank Paulson and his staff prepared a secret plan for how to deal with the situation in Chapter 4. Their plan proposed that should the banks fail, the Treasury Department would purchase up to how many of the bad assets of the banks in order to stabilize the market?
(a) $500 billion
(b) $200 billion
(c) $300 billion
(d) $100 billion

3. Who was the founder of the company that would become AIG?
(a) Jamie Dimon
(b) Cornelius Vander Starr
(c) Warren Buffett
(d) Michael Bloomberg

4. Jamie Dimon told Hank Paulson that JP Morgan had upped its offer from $2 per share to what in Chapter 2?
(a) $4 per share
(b) $10 per share
(c) $16 per share
(d) $9 per share

5. Gerald Donini asserts when speaking with Jim Cramer in Chapter 5 that he felt the real problem in the marketplace wasn’t short-selling, but what?
(a) Stocks
(b) Subprime lending
(c) Naked-shorting
(d) Derivatives

Short Answer Questions

1. Where was Hank Paulson born?

2. Where was Dick Fuld visiting when he received an urgent call from Henry Paulson regarding the collapse of the fifth largest investment bank in the U.S., according to the author in Chapter 1?

3. According to the author in Chapter 6, Scott Friedheim was an executive in whose mold?

4. In what year did Hank Paulson become a partner at Goldman Sachs?

5. What were the quarterly losses that were announced at Lehman Brothers on June 9, 2008?

(see the answer key)

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