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

Multiple Choice Questions

1. Where did Matt Taibbi hear Sarah Palin's acceptance speech in Chapter 1?
(a) The Xcel Center in St. Paul, MN.
(b) The Hewlitt Packard Center, San Jose, CA.
(c) Wall Street, New York, NY.
(d) The Superdome, New Orleans, LA.

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

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

4. During what years was Ronald Reagan President of the United States?
(a) 1982-1990.
(b) 1981-1989.
(c) 1979-1985.
(d) 1971-1978.

5. What was the name of Ayn Rand's circle of intellectuals which was dedicated to relentless self-interest?
(a) "The Caravan."
(b) "The Vicious Circle."
(c) "The Circle."
(d) "The Collective."

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

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

8. What do T-Bills refer to?
(a) Trade bills.
(b) Treasury bills.
(c) Tranche bills.
(d) Tendered bills.

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

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

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

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

13. What refers to a public entity for the trading of company stock and derivatives at an agreed price?
(a) Capital market.
(b) Treasury market.
(c) Stock market.
(d) Bond market.

14. With what Tea Party member did Matt Taibbi travel around Nevada in Chapter 1?
(a) James Williams.
(b) Michele Bachmann.
(c) Sarah Palin.
(d) Bill Parsons.

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

Short Answer Questions

1. The fundamental belief of what philosophy is that self-interest is a normal human state and interventionism by the government is unnatural and evil?

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

3. By 2005, there was over how much money in subprime loans approved?

4. What refers to a financial market where participants can issue new debt, known as the Primary market, or buy and sell debt securities, known as the Secondary market, usually in the form of bonds?

5. In Chapter 3, what process in which loans are split up and sold off to secondary investors as securities was used by banks?

(see the answer keys)

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