When Genius Failed Test | Final 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. When markets get jumpy, what begins to rise?

2. What put pressure on the currency in Brazil?

3. How did regulators respond to the involvement of banks in the derivatives market?

4. What was the first horrible month Long-Term had?

5. What notable player was on vacation during the crisis in Russia?

Short Essay Questions

1. Why were regulators concerned about the volume of banks and investment banks involved in the derivatives market?

2. Why did the issue in Russia cost Long-Term money on an initial basis?

3. Why did banks and investment banks get involved in the derivatives market?

4. What was the financial climate when Merton and Scholes were awarded the Nobel Prize?

5. Who was Jon Corzine?

6. In spite of the economic crisis in Russia, what did Meriwether believe about Long-Term's trades?

7. In 1997, what was Meriwether encouraging his employees to do?

8. What move did Salomon make that surprised Long-Term?

9. How much of Long-Term did the Union Bank of Switzerland buy on a hedge?

10. When Meriwether reached out to his clients following the Russian crisis, how did he explain the effect of the situation in Russia?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Meriwether began his career at Salomon Brothers before starting Long-Term. Write a detailed profile of his career path at Salomon Brothers, answering the following questions.

1) What risk did Meriwether take at Salomon Brothers?

2) What were the challenges and rewards?

3) Why did his career at Salomon Brothers come to an end?

Essay Topic 2

Write a brief essay supporting or refuting the following statement, citing examples from the text: Long-Term took part in risky investments as the market became over-saturated.

Essay Topic 3

Those involved at the top levels of Long-Term were given respect, money and opportunity. Write a brief essay analyzing some of the advantages a career at Long-Term gave many of the partners, citing examples from the text.

(see the answer keys)

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