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This quiz consists of 5 multiple choice and 5 short answer questions through Tug-of-War.

Multiple Choice Questions

1. In 1993, what was happening more than usual in America?
(a) Day trading.
(b) Refinancing.
(c) Bankruptcy.
(d) Starvation.

2. What was the typical scenario for bond investors in 1994?
(a) Loss.
(b) Minimal gains.
(c) Few invested in bonds.
(d) Substantial gains.

3. How much money did Meriwether need to start Long-Term?
(a) $50 million.
(b) $2.5 billion.
(c) $100,000.
(d) $1 billion.

4. In 1996, who did Long-Term first approach to handle their credit?
(a) Citibank.
(b) Bank of America.
(c) Washington Mutual.
(d) Chase.

5. What did Meriwether warn his investors against in 1994?
(a) His early retirement.
(b) Further growth.
(c) A repeat performance.
(d) Not investing enough with Long-Term.

Short Answer Questions

1. What did Rosenfeld and his friend develop?

2. In 1996, Long-Term had achieved thirty times its what?

3. What type of strategy did Long-Term employ?

4. Who helped Meriwether raise money for Long-Term?

5. How much did banks and investors make in conjunction with Long-Term?

(see the answer key)

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