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

Multiple Choice Questions

1. Who did most funds have to be registered with?
(a) The Fed.
(b) Most funds did not have to be registered.
(c) CFTC.
(d) SEC.

2. How much money did Long-Term lose on Wall Street?
(a) $4.5 billion.
(b) $900 million.
(c) $780,000.
(d) $2 billion.

3. What group did Meriwether found in 1977?
(a) The Meegen Group.
(b) Smith & Meriwether Co.
(c) The Commanders.
(d) The Arbitrage Group.

4. What were popular pools in 1993?
(a) Oil.
(b) Electricity.
(c) Green energy.
(d) Mortgage.

5. What is the method of paying a percentage of a bond called?
(a) A bond fee.
(b) A haircut.
(c) A percentage price.
(d) A trim.

Short Answer Questions

1. Where was Robert C. Merton working when Meriwether hired him?

2. What was the leverage of Long-Term, following its meeting with the Fed?

3. What unusual event happened when Meriwether began working with Treasury futures?

4. What did Meriwether do with his staff?

5. In 1996, Long-Term was two and a half times larger than what company?

(see the answer key)

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