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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. In what year was Sarah Palin a candidate for Vice President of the United States?
(a) 2004.
(b) 2005.
(c) 2008.
(d) 2002.

2. 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?
(a) Stock portfolio.
(b) Hedge fund.
(c) Derivatives fund.
(d) Credit fund.

3. When was Ayn Rand born?
(a) 1925.
(b) 1915.
(c) 1930.
(d) 1905.

4. Alan Greenspan served as Chairman of the Federal Reserve of the United States during what years?
(a) 1990-1999.
(b) 1980-2000.
(c) 1985-2004.
(d) 1987-2006.

5. What refers to trade in high volumes at prices that are considerably at variance with intrinsic values?
(a) Socialism.
(b) Free-market economics.
(c) Bubble economy.
(d) Capitalism.

6. When was Alan Greenspan born?
(a) 1926.
(b) 1911.
(c) 1953.
(d) 1940.

7. AIG was listed on the Dow Jones Industrial Average from _________ to September 22, 2008.
(a) March 12, 2008.
(b) September 19, 2005.
(c) August 5, 2003.
(d) April 8, 2004.

8. Where was Ayn Rand born?
(a) Alberta, Canada.
(b) New Brunswick, Canada.
(c) New York, New York.
(d) Saint Petersburg, Russia.

9. In Atlas Shrugged, a group of men break off on their own and form __________.
(a) A free-market society.
(b) A Socialist society.
(c) A dystopian society.
(d) A Communist society.

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

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

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

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

14. What does NINJA stand for in the mortgage industry?
(a) No incidental job or abilities.
(b) No income, job, or allocations.
(c) No income, job, or assets.
(d) No indictments, job, or allimony.

15. Ronald Reagan was the thirty-third governor of what state?
(a) Texas.
(b) California.
(c) Washington.
(d) Arizona.

Short Answer Questions

1. T-Bills mature in what time?

2. Who is the protagonist of The Fountainhead?

3. Eljon Williams and his wife were shocked when their mortgage went up over how much from one month to the next in Chapter 3?

4. The loans on the bottom tier of derivatives were referred to as what?

5. The Bear Stearns Companies, Inc. was based in what US city?

(see the answer keys)

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