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

Multiple Choice Questions

1. "The opportunist" is sane in every respect except that his _____ was stratospheric.
(a) Self-loathing.
(b) Self-importance.
(c) Accumulated debt.
(d) Accumulated wealth.

2. The quote in "The Art of War" that captures the essence of the chapter is "God gave you eyes, _____."
(a) Look ahead.
(b) Plot their demise.
(c) Watch your back.
(d) Plagiarize.

3. What fund goes from zero investment in the mortgage market in 1983 to thirty billion dollars worth of CMOs in 1986?
(a) The Fannie Mae fund.
(b) The U.S. treasury bill fund.
(c) The American pension fund.
(d) The Freddie Mac fund.

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

5. 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) Maniacal.
(d) Stream of consciousness.

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

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

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

9. What ritual of the London office is fairly renowned in New York?
(a) Going to France on the weekends.
(b) Two-hour lunches.
(c) Working late hours.
(d) Wine at work.

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

11. What is the primary aspect of business that always matters most at Salomon Brothers?
(a) Revenue.
(b) Loyalty.
(c) Profit.
(d) Market advantage.

12. What do rating services rely exclusively on to assess a company's creditworthy status?
(a) Its earnings.
(b) The future.
(c) The present.
(d) The past.

13. What is the biggest most expensive real estate project in Manhattan on which Salomon Brothers bails out at a $107 million loss?
(a) The Manhattan Project.
(b) The Long Island Bridge.
(c) Crystal Island.
(d) Columbus Circle.

14. What type of nightmares is the author having at the beginning of "The Art of War"?
(a) Hotel.
(b) Elementary school.
(c) Trading.
(d) Sandlot.

15. Ranieri owns exactly four suits, all of them _____.
(a) Polyester.
(b) Wool.
(c) Silk.
(d) Rayon.

Short Answer Questions

1. In New York, when a trader is starting out, the excitement of being part of the action comes at the price _____.

2. Which country's interest rate is part of the deal for which "the opportunist" steals credit?

3. What is the name of the standard of one hundred cents on the dollar?

4. According to the author, the whole idea of globalization at Salomon Brothers is _____.

5. Steve Roth and Scott Brittenham make millions of dollars trading _____.

(see the answer keys)

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