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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Where was Hank Paulson born?
(a) Des Moines, IA
(b) Palm Beach, FL
(c) Knoxville, TN
(d) Billings, MT

2. What reporter wrote the story about Lehman that he described in Chapter 6 as “the worst betrayal of my career”?
(a) David Einhorn
(b) Gerald Donini
(c) Colm Kelleher
(d) Susanne Craig

3. 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?
(a) Iceland
(b) India
(c) England
(d) China

4. Who did Scott Friedheim believe to be responsible for the leak to the Wall Street Journal in Chapter 6?
(a) Sheila Bair
(b) Margaret Law
(c) Erin Callan
(d) Kerrie Cohen

5. Where did Dick Fuld receive his B.A. and B.S. in 1969?
(a) The University of Colorado at Boulder
(b) The University of Washington at Tacoma
(c) The University of Idaho at Boise
(d) The University of Arizona at Flagstaff

6. Bob Willumstad had been asked by the board of AIG to replace whom as CEO in Chapter 8?
(a) Eddie Lampert
(b) David Einhorn
(c) Martin Sullivan
(d) Tony Ryan

7. In what year does the author state Long-Term Capital Management blew up in Chapter 5?
(a) 1998
(b) 1999
(c) 1996
(d) 1995

8. By what nickname is Warren Buffett known in the financial world?
(a) The Money Machine
(b) Rich Uncle Pennybags
(c) The Wealth Extractor
(d) The Wizard of Omaha

9. When was Warren Buffett born?
(a) 1941
(b) 1930
(c) 1925
(d) 1918

10. Where was Dick Fuld born?
(a) Chicago, IL
(b) New Orleans, LA
(c) New York, NY
(d) Dallas, TX

11. Timothy Geithner was the President of the Federal Reserve Bank of New York during what years?
(a) 2002-2005
(b) 2001-2010
(c) 1999-2002
(d) 2003-2009

12. Who was the Chairman of the Federal Reserve in 2008?
(a) Ben Bernanke
(b) Michael Bloomberg
(c) Jim Bunning
(d) Jon Corzine

13. In the mid-1980s, Bob Willumstad was rising through the executive ranks of what financial corporation?
(a) Westwood Capital LLC
(b) Chemical Bank
(c) Northern Trust
(d) Barclays

14. In 2008, AIG had grown into one of the world’s largest financial companies, with a market value of just under how much?
(a) $80 billion
(b) $50 billion
(c) $35 billon
(d) $125 billion

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

Short Answer Questions

1. According to the author in Chapter 1, Henry Paulson called and informed Dick Fuld that Bear Stearns collapsed and that the U.S. Treasury had taken the step of backing how much in Bear Stearns assets to restore confidence in the market?

2. According to the author in Chapter 5, Jim Cramer, a media star, was solidly Harvard and counted as one of his best friends which individual called “the bane of Wall Street”?

3. In 2008, AIG had grown into one of the world’s largest financial companies, with more than how much worth of assets on its books?

4. What word in finance refers to the act of making loans to people who may have difficulty maintaining the repayment schedule?

5. Dick Fuld was the CEO of what global financial services firm in March, 2008?

(see the answer keys)

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