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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. Alan Greenspan was born in what area of New York City?
(a) The Upper East Side.
(b) Greenwich Village.
(c) Washington Heights.
(d) Astoria, Queens.

2. Eljon Williams had what profession?
(a) Banker.
(b) Pianist.
(c) Sheriff's deputy.
(d) Sanitation worker.

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

4. What does AIG stand for?
(a) American International Group.
(b) Atlanta International Group.
(c) American Independent Group.
(d) American Industrial Group.

5. In 2002, less than how much worth of subprime loans was approved?
(a) $300 million.
(b) $100 billion.
(c) $200 billion.
(d) $1 billion.

Short Answer Questions

1. During his economic studies, Alan Greenspan worked under Eugene Banks, a managing director at what Wall Street investment bank?

2. Of what descent was Alan Greenspan's father?

3. From 1948 to 1953, Alan Greenspan worked as an economic analyst at what business and industry oriented think-tank in New York City?

4. Richard Nixon was President of the United States during what years?

5. What refers to a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation?

(see the answer key)

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