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This quiz consists of 5 multiple choice and 5 short answer questions through The Human Factor.

Multiple Choice Questions

1. Once in business, what did Long-Term have an easy time getting from banks?
(a) Workers.
(b) Money.
(c) Personal information.
(d) Endorsements.

2. In August 1998, how far down was Long-Term for the month?
(a) 25%.
(b) 60%.
(c) 10%.
(d) 44%.

3. In the mid-1990's, what was the ratio of leverage on Wall Street?
(a) 100-1.
(b) 10-1.
(c) 45-1.
(d) 25-1.

4. What did Long-Term avoid by working with derivatives instead of stocks?
(a) Disclosure.
(b) Profit.
(c) Outside interest.
(d) Fees.

5. What was the climate at Long-Term during the Russian financial crisis?
(a) Nervous.
(b) Confident.
(c) Excited.
(d) Standard.

Short Answer Questions

1. In bond trading, what are loans backed by collateral called?

2. Who threatened to stop clearing the trades at Long-Term if their fund fell below a particular amunt?

3. Michael Steindardt believed what was the "culprit in 1994"?

4. Where were Italian bonds sold by Long-Term?

5. What did Long-Term do when IOs started to fall?

(see the answer key)

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