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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. A trainee asks Horowitz about Salomon Brother's being blacklisted by whom?
(a) Canadians.
(b) Arabs.
(c) Catholics.
(d) South Africans.

2. In any market, as in any poker game, there is a ______.
(a) Scapegoat.
(b) Ringleader.
(c) Sociopath.
(d) Fool.

3. According to the author, even knowledgeable thrift presidents feel they face a choice between rape and _____ when dealing with mortgage traders.
(a) Long-term gains.
(b) Prison.
(c) Battery.
(d) Slow suicide.

4. What is Latin for "buyer beware"?
(a) Meum dictum pactum.
(b) Quid pro quo.
(c) Caveat emptor.
(d) Semper fedelis.

5. Lewie Ranieri is doing what when he is called in by Gutfreund to take over the mortgage department?
(a) Trading government bonds.
(b) Trading equities.
(c) Trading utility bonds.
(d) Working in the mailroom.

Short Answer Questions

1. What dollar amount does Meriwether counter Gutfreund's bet with?

2. How much debt does the savings and loan companies seem to want to sell in 1981?

3. Which company becomes Salomon Brothers' biggest competitor soon after mortgage trading becomes a viable investment entity?

4. A guiding principle of Salomon Brothers that Tom Strauss iterates to the author is that customers have _____.

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

(see the answer key)

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