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This quiz consists of 5 multiple choice and 5 short answer questions through When Bad Things Happen to Rich People.

Multiple Choice Questions

1. Mike Milkin of Drexel Burnham is the guru of _____.
(a) Mortgage bonds.
(b) Junk bonds.
(c) Municipal bonds.
(d) Government bonds.

2. What is it called when occupants of an upmarket property buy out the owner-developer who repays his government loan?
(a) A reversal.
(b) A no-fault loan.
(c) A counter weight.
(d) A conversion.

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

4. Ranieri says Bill Voute always has a _____.
(a) Sportscar image.
(b) Biting wit.
(c) Political agenda.
(d) Need to pick at people.

5. The author characterizes the people initially involved in home mortgages as ______.
(a) Burger flippers.
(b) Shoe salesmen.
(c) Sheep ranchers.
(d) Corn farmers.

Short Answer Questions

1. In the midst of Liar's Poker, the good player's mind spins with ________.

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

3. To create a CMO, hundreds of millions of dollars in ordinary mortgage bonds are placed in a _____.

4. According to the author, what is the rarest and most valuable asset a Wall Street firm can possess?

5. Liar's Poker has a lot in common with what aspect of Wall Street business?

(see the answer key)

This section contains 209 words (approx. 1 page at 300 words per page) View a FREE sample