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This quiz consists of 5 multiple choice and 5 short answer questions through The Art of War.

Multiple Choice Questions

1. Who is chairman of the Federal Reserve in 1979?
(a) Arthur F. Burns.
(b) Paul Volcker.
(c) Alan Greenspan.
(d) Ben Bernanke.

2. What is jargon for a gamble that is sure to succeed?
(a) A home run.
(b) A touchdown.
(c) A lay-up.
(d) A field goal.

3. Bob Dall and Stephen Joseph create the first _____ of mortgage securities.
(a) Successful recall.
(b) Legislative block.
(c) Public offering.
(d) Private issue.

4. A sticking point in making mortgage securities work is the homeowner's right to _____ his mortgage.
(a) Prepay.
(b) Appropriate.
(c) Sell.
(d) Default on.

5. The author characterizes the bond trader as a _____.
(a) Rock star.
(b) Bull.
(c) Cowboy.
(d) Warden.

Short Answer Questions

1. What is the name stockbrokers give to the day in 1976 when fixed stock brokerage commissions ended?

2. The market settles on a fair value of CMOs by comparing them with corporate and _____ bonds.

3. What is photocopied 126 times from The New York Times and distributed among the trainees each morning?

4. The Salomon Brothers expense account is used as a _____ compensation system.

5. By getting thrift managers to trade their bonds actively, Ranieri's sales force could transform a shy, nervous thrift president into a _____.

(see the answer key)

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