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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 3: Hot Potato, The Great American Mortgage Scam.

Multiple Choice Questions

1. The Tea Party movement is an American populist political movement that has sponsored protests and supported political candidates since what year?
(a) 2009.
(b) 2008.
(c) 2010.
(d) 2008.

2. Who is the protagonist of Atlas Shrugged?
(a) Michael Williams.
(b) James Edwards.
(c) Howard Roark.
(d) Dagny Taggart.

3. Alan Greenspan recommended the Reagan era increase in Social Security tax, and the rate went from 9.35% to ___________.
(a) 13.9%.
(b) 12.5%.
(c) 15.3%.
(d) 20.1%.

4. Of what descent was Alan Greenspan's father?
(a) Russian-Jewish.
(b) Romanian-Jewish.
(c) Hungarian-Jewish.
(d) Middle Eastern.

5. What involves an exchange of the defaulted loan instrument (and with it the right to recover the default loan at some later time) for immediate money - usually the face value of the loan?
(a) Derivatives.
(b) Tranch default swap.
(c) Free trade.
(d) Credit default swap.

Short Answer Questions

1. What refers to a market for securities (debt or equity), where business enterprises and governments can raise long-term funds?

2. What does NINJA stand for in the mortgage industry?

3. Who is the protagonist of The Fountainhead?

4. Alan Greenspan served as Chairman of the Federal Reserve of the United States during what years?

5. Ronald Reagan was the thirty-third governor of what state?

(see the answer key)

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