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

Multiple Choice Questions

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

2. In December 2008, Chicago Mayor Richard Daley announced that he had leased out the city's parking meters for over ____________.
(a) $2 billion.
(b) $1 billion.
(c) $200 million.
(d) $150 million.

3. In 1991, Goldman-Sachs bought up a commodities trading company called ________.
(a) Wachovia.
(b) Solomon Edwards.
(c) Chase Bank.
(d) J. Aron.

4. Barack Obama previously served as a United States Senator from what state?
(a) California.
(b) Washington.
(c) Kentucky.
(d) Illinois.

5. What, according to the author, had been designed as a massive political deal with big giveaways to pharmaceutical companies in the form of subsidies and a big gift to the insurance industry in the form of the individual mandate?
(a) The Congressional Committee for Finance.
(b) Capitalism.
(c) The Congressional Committee for Health Reform.
(d) Obamacare.

Short Answer Questions

1. When did John McCain marry Carol Shepp?

2. Where was John McCain born?

3. When was Henry Kissinger born?

4. In what year was Congress warned in testimony before the House Foreign Affairs Committee about a new world economic order?

5. When was Barack Obama named the Nobel Peace Prize laureate?

Short Essay Questions

1. What led up to OPEC's oil embargo in the 1970s, as described in Chapter 5?

2. In Chapter 5, what does the author write of the correlation between decreasing taxes and rising prices?

3. According to the author, what actually caused the surge in oil prices?

4. How does Taibbi describe the design of Obamacare?

5. Where is most of the money in the American health care system tied up?

6. What correlation is there between bankruptcies in the United States and the current health care system, as described in Chapter 6?

7. Define "derivatives." What creates derivatives?

8. What is the commodities market and how has it affected American finance?

9. What argument did Goldman-Sachs present for lessening regulation, as discussed in Chapter 4?

10. How did the power structure of Congress change with Scott Brown's election in Chapter 6: The Trillion-dollar Band-Aid - Health Care Reform?

(see the answer keys)

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