When Genius Failed Test | Mid-Book Test - Easy

Roger Lowenstein
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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. During the time period in "Hedge Fund", how many people were millionaires due to the stock market?
(a) 20 million.
(b) 6 million.
(c) 5 million.
(d) 1 million.

2. How much did the accounts for investors increase in 1994?
(a) 20%.
(b) 10%.
(c) 50%.
(d) 5%.

3. Where were Italian bonds sold by Long-Term?
(a) Swaps.
(b) Directly to investors.
(c) Under the table.
(d) Cayman Islands.

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

5. What is the CFTC short for?
(a) Counting Futures Trading Commodities.
(b) Commodities Futures Trading Commission.
(c) Capitalism Fortune Trust Commonwealth.
(d) Commodities Finding True Commission.

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

7. Where was the London office for Long-Term located?
(a) Winchester.
(b) Buckingham Palace.
(c) Picadilly Square.
(d) Mayfair.

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

9. What percentage of Americans had no knowledge of Long-Term?
(a) 75%.
(b) 99%.
(c) 10%.
(d) 50%.

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

11. Who typically invested in hedge funds?
(a) A club of exclusive investors.
(b) The general population.
(c) Foreign banks.
(d) The Federal Reserve.

12. What type of government paper was bought in Italy?
(a) Italian money.
(b) Fluctuating rate.
(c) Floating rate.
(d) Deeds to monuments.

13. What was Meriwether's team allowed to do, following the Treasury bill deal?
(a) Vacation in Italy.
(b) Coach the office.
(c) Set Treasury standards.
(d) Spread trades.

14. Once in business, what did Long-Term have an easy time getting from banks?
(a) Workers.
(b) Personal information.
(c) Money.
(d) Endorsements.

15. Why did Rosenfeld choose not to co-found Kapor's project?
(a) He was competitive with Kapor.
(b) He was too interested in travel.
(c) He was too interested in finance.
(d) He did not like Kapor.

Short Answer Questions

1. How much did Long-Term plan to take from its profits?

2. How was Meriwether's career affected following the Treasury bill deal?

3. How much money did Long-Term earn in 1996?

4. Where was David W. Mullins working when Meriwether hired him?

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

(see the answer keys)

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