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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What is the expression that describes a customer who has gone under as a result of a trade?
(a) Excised.
(b) Wiped out.
(c) Blown up.
(d) Disintegrated.

2. In Salomon Brothers: Advance to Leadership, Gutfreund is cast as what type of figure?
(a) A messiah.
(b) A de Gaulle.
(c) A Churchill.
(d) An Isaiah.

3. What is the name given to the junk bond seminar that Michael Milken speaks at every year in Beverly Hills?
(a) The Golden Parachute.
(b) The Predator's Ball.
(c) The Junker's Ball.
(d) TheMoney Masquerade.

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

5. Gutfreund is treated like a _____ in London.
(a) Brother.
(b) King.
(c) Gauche American tourist.
(d) Crazy uncle.

6. What is more relevant than a bad joke because it moves markets?
(a) A rumor.
(b) A fact.
(c) A documentary.
(d) A book.

7. By getting thrift managers to trade their bonds actively, Ranieri's sales force could transform a shy, nervous thrift president into a _____.
(a) Screaming maniac.
(b) Maniacal gambler.
(c) Glutton for food.
(d) Drug addict.

8. On Wall Street, there is no theoretical basis for pricing a homeowner's option to _____ his loan.
(a) Repay.
(b) Default on.
(c) Inflate.
(d) Refinance.

9. How much debt does the savings and loan companies seem to want to sell in 1981?
(a) One billion dollars.
(b) Zero.
(c) Fifty billion dollars.
(d) One trillion dollars.

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

11. Investment banking in America is a long-standing _____.
(a) Oligopoly.
(b) Dictatorship.
(c) Monarchy.
(d) Partnership.

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

13. Ranieri is characterized by the author as perhaps the first _____ in the history of Wall Street.
(a) Communist.
(b) Democrat.
(c) Populist.
(d) Confedrate.

14. The author observes that Strauss doesn't seem to like Ranieri's lack of _____.
(a) Couth.
(b) Drive.
(c) Aplomb.
(d) Conviction.

15. What is the word that means trading riskily for profit?
(a) Selling short.
(b) Arbitration.
(c) Swapping.
(d) Arbitrage.

Short Answer Questions

1. What is Latin for "buyer beware"?

2. The author and Alexander orchestrate the a second security after "the opportunist" steals credit for the first involving the interest rate of which country?

3. What type of nightmares is the author having at the beginning of "The Art of War"?

4. Ranieri is the guru of the _____ industry.

5. This person is charged with coordinating all deals on the trading floor.

(see the answer keys)

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