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

Multiple Choice Questions

1. What was practically impossible to determine about Long-Term?
(a) Actual fund assets.
(b) Why it was doing so well.
(c) Who was in charge.
(d) Where it was located.

2. What put pressure on the currency in Brazil?
(a) Moody's downgraded Brazilian debt.
(b) The United State balanced the budget.
(c) Warren Buffet paid off Brazilian debt.
(d) Goldman's bought out China's debt.

3. Where did Meriwether work in 1979?
(a) Salomon Brothers.
(b) Lehman.
(c) Long-Term.
(d) Merrill Lynch.

4. How much money did Long-Term earn in 1996?
(a) $500 million.
(b) $1 billion.
(c) $2.1 billion.
(d) $100 million.

5. How much equity did Long-Term have hold of in 1997?
(a) $0.
(b) $100 million.
(c) $1 billion.
(d) $5 billion.

Short Answer Questions

1. In 1994, what market did Long-Term begin to express an interest in?

2. How many banks stepped forward to help bail out Long-Term?

3. When did the Russian market begin to fail?

4. What did the Black-Scholes model believe was constant?

5. Who was withdrawing from the hedge fund markets?

(see the answer key)

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