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

Multiple Choice Questions

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

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

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

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

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

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

7. The loans on the bottom tier of derivatives were referred to as what?
(a) AAA.
(b) Bottom feeders.
(c) Top notch.
(d) Toxic waste.

8. When was Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History published?
(a) September, 2008.
(b) October, 2009.
(c) September, 2011.
(d) December, 2009.

9. For what political party was Sarah Palin the nominee for Vice President of the United States?
(a) Tea Party.
(b) Green Party.
(c) Democrat.
(d) Republican.

10. When was Ronald Reagan born?
(a) 1930.
(b) 1925.
(c) 1911.
(d) 1919.

11. Alongside what Presidential nominee did Sarah Palin run as Vice President of the United States?
(a) Hillary Clinton.
(b) George W. Bush.
(c) Barack Obama.
(d) John McCain.

12. The investment bank division of Deutsche Bank is head-quartered where?
(a) London, England.
(b) New York, New York.
(c) Washington, D.C.
(d) Chicago, Illinois.

13. According to the author, the Tea Party believes that the economy is self-correcting as long as commerce and _______ are separated.
(a) Derivatives.
(b) Government.
(c) Business.
(d) Socialism.

14. Eljon Williams learned that the firm which helped him obtain a mortgage had gotten a commission of how much money?
(a) $12,000.
(b) $8,000.
(c) $5,000.
(d) $10,000.

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

Short Answer Questions

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

2. What refers to a numerical expression based on a statistical analysis of a person's credit files that represents the creditworthiness of that person?

3. From 1948 to 1953, Alan Greenspan worked as an economic analyst at what business and industry oriented think-tank in New York City?

4. Of what descent was Alan Greenspan's father?

5. Eljon Williams contacted what firm to help him get a home loan with a fixed mortgage?

(see the answer keys)

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