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

Multiple Choice Questions

1. A carnival performer who bites the heads off live chickens and snakes is definition of a _____.
(a) Stooge.
(b) Geek.
(c) Freak.
(d) Nerd.

2. What is the name of the Salomon Brothers when it becomes a corporation?
(a) Salomon Shearson Incorporated.
(b) First Salomon Incorporated.
(c) Salomon Brothers Incorporated.
(d) Phibro Salomon Incorporated.

3. To create a CMO, hundreds of millions of dollars in ordinary mortgage bonds are placed in a _____.
(a) Retirement account.
(b) Certificate of Deposit.
(c) Trust.
(d) Pension fund.

4. Lewis characterizes the sprinting rabbit statue at the new London office as a _____.
(a) Caveat emptor.
(b) Frivolous trinket.
(c) Non sequitur.
(d) Reminder to work hard.

5. According to the author, investors don't fear losing money as much as they fear _____?
(a) Ridicule.
(b) Math.
(c) Dogma.
(d) Solitude.

6. Salomon Brothers is a ______ from 1910 to 1981.
(a) Partnership.
(b) Corporation.
(c) Monopoly.
(d) Sole proprietorship.

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

8. What is the name of the standard of one hundred cents on the dollar?
(a) Coupon rate.
(b) Whole life.
(c) Whole dividend.
(d) Par.

9. Who are the biggest shoppers for mortgage products?
(a) Foreign investors.
(b) Homeowners.
(c) Government agencies.
(d) Thrifts.

10. What are the European genus, English species, of slick financial people called?
(a) Snakes.
(b) Spivs.
(c) Rakes.
(d) Donkeys.

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

12. What type of communication do the author and Dash launch into at the beginning of the work day?
(a) Sign language.
(b) Slow and deliberate.
(c) Stream of consciousness.
(d) Maniacal.

13. What author does the author recommend to his Prussian colleagues?
(a) Sun-Tzu.
(b) Dale Carnegie.
(c) John Suskind.
(d) Anthony Robbins.

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

15. The Salomon Brothers expense account is used as a _____ compensation system.
(a) First-rate.
(b) Hard-dollar.
(c) Soft-dollar.
(d) Second rate.

Short Answer Questions

1. Ranieri is characterized by the author as perhaps the first _____ in the history of Wall Street.

2. Who writes the book, On War?

3. CMO's are divided into slices, or _____.

4. Michael Milken invents the _____.

5. What is it called when occupants of an upmarket property buy out the owner-developer who repays his government loan?

(see the answer keys)

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