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

Multiple Choice Questions

1. What refers to the idea of a society in a repressive and controlled state, often under the guise of being Utopian?
(a) Dystopia.
(b) Democracy.
(c) Communism.
(d) Socialism.

2. What refers to a form of government in which engineers, scientists, health professionals, and other technical experts are in control of decision making in their respective fields?
(a) Democracy.
(b) Plurocracy.
(c) Socialist democracy.
(d) Technocracy.

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?
(a) $100.
(b) $300.
(c) $200.
(d) $500.

4. What refers to a market for securities (debt or equity), where business enterprises and governments can raise long-term funds?
(a) Derivatives market.
(b) Bond market.
(c) Capital market.
(d) Subsidy market.

5. Eljon Williams contacted what firm to help him get a home loan with a fixed mortgage?
(a) Goldman-Sachs.
(b) Wachovia.
(c) Merrill Lynch.
(d) Solomon Edwards.

6. 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) Authorization.
(d) Amortization.

7. In Chapter 1, there was exhaustion because the campaign had been how long?
(a) 8 months.
(b) 18 months.
(c) 12 months.
(d) 6 months.

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

9. What refers to an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities?
(a) Federal Reserve.
(b) Stock exchange.
(c) Bond market.
(d) Treasury market.

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

11. 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?
(a) Derivitaves market.
(b) Ponzi scheme.
(c) Subsidized market.
(d) Unsubsidized loans.

12. What NBC correspondent did Alan Greenspan marry?
(a) Jane Pauley.
(b) Michelle Kimble.
(c) Andrea Mitchell.
(d) Alexis Marcantel.

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

14. For what magazine was Matt Taibbi working as a reporter when he describes having listened to the acceptance speech of Sarah Palin in Chapter 1?
(a) Men's Journal.
(b) Rolling Stone.
(c) The New Yorker.
(d) Wall Street Journal.

15. 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) Credit fund.
(b) Stock portfolio.
(c) Hedge fund.
(d) Derivatives fund.

Short Answer Questions

1. Alan Greenspan recommended the Reagan era increase in Social Security tax, and the rate went from 9.35% to ___________.

2. For what political party was Sarah Palin the nominee for Vice President of the United States?

3. Since 2002, Deutsche Bank's Chief Executive Officer and Chairman of the Group Executive Committee has been __________.

4. What do T-Bills refer to?

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?

(see the answer keys)

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