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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 6: The Trillion-dollar Band-Aid - Health Care Refor.

Multiple Choice Questions

1. When was the Uniform Prudent Investor Act enacted?
(a) 1994.
(b) 1915.
(c) 1947.
(d) 1985.

2. The Bear Stearns Companies, Inc. was based in what US city?
(a) Los Angeles.
(b) Seattle.
(c) Chicago.
(d) New York.

3. A new investment vehicle called index speculation was comprised of two main indices which were the Goldman-Sachs Commodity Index and ____________.
(a) The Dow Jones-AIG Commodity Index.
(b) The NASDAQ-AIG Commodity Index.
(c) The FICA Commodity Index.
(d) The Dow Jones-NASDAQ Commodity Index.

4. The loans on the bottom tier of derivatives were referred to as what?
(a) AAA.
(b) Toxic waste.
(c) Bottom feeders.
(d) Top notch.

5. Before declaring bankruptcy, Lehman Brothers Holdings Inc. was ranked as the _________ largest investment bank in the United States.
(a) Third.
(b) Second.
(c) Fourth.
(d) First.

Short Answer Questions

1. In December 2008, Chicago Mayor Richard Daley announced that he had leased out the city's parking meters for how long?

2. Eljon Williams learned that the firm which helped him obtain a mortgage had gotten a commission of how much money?

3. When did Lehman Brothers declare bankruptcy?

4. What is a requirement for a proposal to gain a specified level or type of support which exceeds a simple majority (over 50%)?

5. What is a private, actively managed investment fund that utilizes sophisticated strategies in international and/or domestic markets, offsets losses during a market downturn, and/or generates returns higher than traditional stock and bond investments?

(see the answer key)

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