When Genius Failed Quiz | Two Week Quiz A

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

Multiple Choice Questions

1. In 1996, how much did Long-Term have in assets?
(a) $140 billion.
(b) $120 million.
(c) $500 million.
(d) $1 billion.

2. In 1996, Long-Term had achieved thirty times its what?
(a) Proposed value.
(b) Debt capacity.
(c) Original goal.
(d) Starting capital.

3. What models did Long-Term follow?
(a) Value-at-Risk.
(b) Black-Scholes.
(c) Merton.
(d) All of these.

4. What did banks and investors want from Long-Term?
(a) To be involved.
(b) Client referrals.
(c) Regulation.
(d) It to shut down.

5. In 1994, why did the yield raise on the thirty year Treasury bond?
(a) It dropped 10%.
(b) It rose 16%.
(c) It rose 5%.
(d) It dropped 16%.

Short Answer Questions

1. How much of the face value of a bond do buyers typically pay?

2. What percentage of Americans had no knowledge of Long-Term?

3. Who gains from working with hedge funds?

4. How much money did Meriwether need to start Long-Term?

5. What was the internal climate at Long-Term in 1998?

(see the answer key)

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