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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. When was the Uniform Prudent Investor Act enacted?

2. From what university did Henry Kissinger earn his A.M. and Ph.D. degrees?

3. Who had to withdraw from a summer calculus class in San Francisco because he couldn't afford the gas for the commute?

4. The Prudent Man Rule was last revised in what year?

5. For what state was Scott Brown elected Senator?

Short Essay Questions

1. How are SFWs defined in Chapter 5: The Outsourced Highway - Wealth Funds?

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

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

4. What does Taibbi assert as an ominous element of health care legislation?

5. What administration was responsible for easing regulations on the stock market in Chapter 4?

6. Who was responsible for purchasing Chicago's parking meters, as described in Chapter 5?

7. What led to the end of the Yom Kippur War, as discussed in Chapter 5?

8. What changed the regulation for trust funds and pension funds, as described in Chapter 4?

9. Define "derivatives." What creates derivatives?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss the growth and philosophies of the Tea Party movement. What fundamental problems does the author see in the approach and methods of the Tea Party?

Essay Topic 2

Discuss Alan Greenspan's direct and indirect role in the financial disaster of 2008. What actions did Greenspan take which led to the market fallout?

Essay Topic 3

Define and analyze securitization, sub prime loans and derivatives. How and when did these terms enter the American financial world?

(see the answer keys)

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