When Genius Failed Test | Mid-Book Test - Hard

Roger Lowenstein
This set of Lesson Plans consists of approximately 99 pages of tests, essay questions, lessons, and other teaching materials.
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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

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

2. How much money did Rosenfeld's business bring in?

3. Where were Italian bonds sold by Long-Term?

4. In 1994, why did the yield raise on the thirty year Treasury bond?

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

Short Essay Questions

1. Why did bonds lose their value in the 1970's?

2. What was Long-Term's objective in seeking out a bank to finance their credit?

3. What surprise happened when Meriwether was trading Treasury Bill futures?

4. What dictates whether or interest only securities rise or fall?

5. What did Long-Term do to limit risk in bond trading?

6. By the time Long-Term had been in business for two years, how did it compare to other old Wall Street companies?

7. What was Meriwether's group at Salomon given the authority to do?

8. Why was it difficult to know the exact amount of assets Long-Term held?

9. What did the Black-Scholes model help Long-Term to predict?

10. What are relative value trades?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Occasionally, Long-Term encountered a trading regulation that was designed to prevent them from over-leveraging. In many of these situations, they would find a way to sidestep the regulation. Write an essay that takes a stand on this type of behavior and identify at least three examples from the text in your work.

Essay Topic 2

Basing your answer on the height of Long-Term's career, compare and contrast several of the companies on Wall Street with Long-Term, citing examples from the text.

Essay Topic 3

Write a brief essay supporting or refuting the following statement, citing examples from the text: Long-Term set out to be a low risk company and exemplified that mission for several years.

(see the answer keys)

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