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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. When did Lehman Brothers declare bankruptcy?
(a) October, 2008.
(b) September, 2008.
(c) November, 2007.
(d) September 2009.

2. Who appointed Alan Greenspan as the Federal Reserve chairman?
(a) Bill Clinton.
(b) Ronald Reagan.
(c) George W. Bush.
(d) George H. Bush.

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

4. In Chapter 3, what process in which loans are split up and sold off to secondary investors as securities was used by banks?
(a) Securitization.
(b) Derivatives.
(c) Amortization.
(d) Authorization.

5. According to the author, the top one percent of Americans own almost what percent of the wealth?
(a) 40.
(b) 30.
(c) 20.
(d) 60.

Short Answer Questions

1. The Tea Party movement is an American populist political movement that has sponsored protests and supported political candidates since what year?

2. What do T-Bills refer to?

3. By 2005, there was over how much money in subprime loans approved?

4. What refers to a public entity for the trading of company stock and derivatives at an agreed price?

5. Alongside what Presidential nominee did Sarah Palin run as Vice President of the United States?

(see the answer key)

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