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

Multiple Choice Questions

1. Where did Alan Greenspan study clarinet from 1943 to 1944?
(a) New York University.
(b) Boston College.
(c) Harvard University.
(d) The Juilliard School.

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

3. 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?
(a) Alan Greenspan.
(b) Big government.
(c) Free-market economics.
(d) Capitalism.

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

5. What refers to a numerical expression based on a statistical analysis of a person's credit files that represents the creditworthiness of that person?
(a) Stock portfolio.
(b) Credit annuity.
(c) Stock score.
(d) Credit score.

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

7. 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) Objectivism.
(c) Pluralism.
(d) Absurdism.

8. In finance, what occurs whenever the loan payment for any period is less than the interest charged over that period so that the outstanding balance of the loan increases?
(a) Inverted amortization.
(b) Positive securitization.
(c) Negative securitization.
(d) Negative amortization.

9. During his economic studies, Alan Greenspan worked under Eugene Banks, a managing director at what Wall Street investment bank?
(a) Solomon Edwards.
(b) Simon & Schuster.
(c) Deutche Bank.
(d) Brown Brothers Harriman.

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

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

12. According to the author, in his years of power, Alan Greenspan was able to turn the Federal Reserve into what?
(a) A Socialist mechanism.
(b) A bail-out mechanism for the ultra-rich.
(c) A place of integrity and fairness.
(d) An establishment for the poor.

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

14. Of what political party was Ronald Reagan a member?
(a) Republican.
(b) Democrat.
(c) Tea Party.
(d) Green Party.

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

Short Answer Questions

1. 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?

2. In 2002, less than how much worth of subprime loans was approved?

3. Who is the protagonist of The Fountainhead?

4. AIG was listed on the Dow Jones Industrial Average from _________ to September 22, 2008.

5. What does NINJA stand for in the mortgage industry?

(see the answer keys)

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