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

Multiple Choice Questions

1. T-Bills mature in what time?
(a) 5 years or more.
(b) 10 years or less.
(c) 2 years.
(d) 1 year or less.

2. The fundamental belief of what philosophy is that self-interest is a normal human state and interventionism by the government is unnatural and evil?
(a) Subjectivism.
(b) Pluralism.
(c) Objectivism.
(d) Absurdism.

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

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

5. Who was Vice President to Richard Nixon?
(a) George H. Bush.
(b) Ronald Reagan.
(c) Spiro Agnew.
(d) Lyndon Johnson.

6. When was The Fountainhead published?
(a) 1954.
(b) 1941.
(c) 1943.
(d) 1967.

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

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

9. 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) The New Yorker.
(b) Men's Journal.
(c) Rolling Stone.
(d) Wall Street Journal.

10. 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) Credit default swap.
(b) Derivatives.
(c) Free trade.
(d) Tranch default swap.

11. In what year did Alan Greenspan earn his M.A. degree in economics?
(a) 1965.
(b) 1950.
(c) 1954.
(d) 1970.

12. In what year did Alan Greenspan tell Congress that the risk involved in derivatives was "negligible"?
(a) 1990.
(b) 1994.
(c) 1987.
(d) 1982.

13. When was Atlas Shrugged published?
(a) 1957.
(b) 1940.
(c) 1968.
(d) 1948.

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

15. 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) $300.
(b) $500.
(c) $200.
(d) $100.

Short Answer Questions

1. According to the author, what philosophy translates to "My facts are facts and your facts are not facts"?

2. According to the author, the Tea Party distracts its followers from the real villains of Wall Street by convincing itself that what is the enemy?

3. According to the author, in his years of power, Alan Greenspan was able to turn the Federal Reserve into what?

4. What refers to trade in high volumes at prices that are considerably at variance with intrinsic values?

5. Of what political party was Ronald Reagan a member?

(see the answer keys)

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