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This quiz consists of 5 multiple choice and 5 short answer questions through Bank of Volatility.

Multiple Choice Questions

1. What was the internal climate at Long-Term in 1998?
(a) Negative.
(b) Positive.
(c) The same as always.
(d) Deteriorating.

2. Why did Long-Term trade in Italy?
(a) Meriwether was Italian.
(b) It was a safe market.
(c) The tax write-off opportunity.
(d) The opportunity for big returns.

3. What did Black and Scholes think price changes were?
(a) Smart corrections.
(b) Common occurences.
(c) Dangerous.
(d) Random events.

4. What type of funds gained popularity in the 1990's?
(a) Real estate.
(b) Value.
(c) Mutual.
(d) Treasury.

5. In 1994, what market did Long-Term begin to express an interest in?
(a) Chicago.
(b) Local.
(c) International.
(d) Chinese.

Short Answer Questions

1. Who gains from working with hedge funds?

2. In 1994, why did the yield raise on the thirty year Treasury bond?

3. What did Long-Term want to do for investors?

4. Who ran the London office for Long-Term?

5. Once in business, what did Long-Term have an easy time getting from banks?

(see the answer key)

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