View a FREE sample

This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. 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) Positive securitization.
(b) Inverted amortization.
(c) Negative amortization.
(d) Negative securitization.

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

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

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

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

Short Answer Questions

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

2. Where did Alan Greenspan study clarinet from 1943 to 1944?

3. Richard Nixon was President of the United States during what years?

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

5. 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?

Short Essay Questions

1. What does Taibbi write of his thoughts on Sarah Palin in Chapter 1?

2. What did Eljon Williams learn about the commission involved in his mortgage?

3. How did Ayn Rand influence Alan Greenspan, and in effect, American finance?

4. With what Tea Party member did Taibbi travel? What did he discover about the Republican candidates' issues?

5. Where was Ayn Rand from? How is she described in Chapter 2?

6. How did the market for subprime loans change between 2002 and 2005?

7. How did Matt Taibbi feel about the Presidential campaign in Chapter 1? What events were unforeseen at this point in history?

8. What does Taibbi assert to be the fundamental problem the the Tea Party's approach?

9. What impact did Alan Greenspan have on the Federal Reserve during his years in power?

10. What setback does the author describe for a banker named Andy?

(see the answer keys)

This section contains 857 words (approx. 3 pages at 300 words per page) View a FREE sample