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

Multiple Choice Questions

1. Barack Obama led a close campaign in the 2008 Democratic Party presidential primaries against whom?
(a) Hillary Clinton.
(b) John McCain.
(c) Sarah Palin.
(d) George W. Bush.

2. What does the CFTC stand for?
(a) The Capitalist Futures Commission.
(b) The Community Finance Trading Commission.
(c) The Commodity Futures Trading Commission.
(d) The Congressional Finance Trust Commission.

3. The Commodity Exchange Act was established under whose administration?
(a) Franklin D. Roosevelt.
(b) Dwight Eisenhower.
(c) Gerald Ford.
(d) Theodore Roosevelt.

4. From what university did Henry Kissinger earn his A.M. and Ph.D. degrees?
(a) Yale University.
(b) Harvard University.
(c) Princeton University.
(d) Tufts University.

5. According to the author, the correlation between decreasing taxes and rising prices from ________ should not go unnoticed.
(a) The services bubble.
(b) The derivatives market.
(c) The rise of Socialism.
(d) The commodities bubble.

6. The Prudent Man Rule was last revised in what year?
(a) 1950.
(b) 1974.
(c) 1962.
(d) 1959.

7. When was Barack Obama named the Nobel Peace Prize laureate?
(a) September, 2009.
(b) October, 2009.
(c) October, 2008.
(d) November, 2009.

8. What is a requirement for a proposal to gain a specified level or type of support which exceeds a simple majority (over 50%)?
(a) Superpower.
(b) Supermajority.
(c) Upper majority.
(d) Great majority.

9. When was the Uniform Prudent Investor Act enacted?
(a) 1947.
(b) 1915.
(c) 1994.
(d) 1985.

10. Goldman-Sachs argued that investing in commodities futures would reduce risk and yield __________.
(a) T-bill returns.
(b) Speculative returns.
(c) Derivatives.
(d) Equity-like returns.

11. When did John McCain marry Carol Shepp?
(a) 1948.
(b) 1985.
(c) 1965.
(d) 1975.

12. The CFTC was created in what year?
(a) 1958.
(b) 1974.
(c) 1986.
(d) 1994.

13. For what state was Scott Brown elected Senator?
(a) Washington.
(b) Illinois.
(c) Massachusetts.
(d) Kansas.

14. When did the Yom Kippur War begin?
(a) October 6, 1973.
(b) November 3, 1973.
(c) October 15, 1972.
(d) September 14, 1975.

15. Oil prices spiked to how much a barrel in 2008?
(a) $149.
(b) $120.
(c) $110.
(d) $200.

Short Answer Questions

1. Nancy Pelosi has represented the 8th Congressional District of what state?

2. Where was Barack Obama born?

3. In Chapter 5, the author was astonished to learn that all the parking meters in what city were on the block for sale?

4. What occupation did Barack Obama have before earning his law degree?

5. When was Nancy Pelosi born?

(see the answer keys)

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