Liar's Poker: Rising Through the Wreckage on Wall Street Test | Final Test - Easy

Michael Lewis (author)
This set of Lesson Plans consists of approximately 116 pages of tests, essay questions, lessons, and other teaching materials.
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Liar's Poker: Rising Through the Wreckage on Wall Street Test | Final Test - Easy

Michael Lewis (author)
This set of Lesson Plans consists of approximately 116 pages of tests, essay questions, lessons, and other teaching materials.
Buy the Liar's Poker: Rising Through the Wreckage on Wall Street Lesson Plans
Name: _________________________ Period: ___________________

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

Multiple Choice Questions

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

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

3. A guiding principle of Salomon Brothers that Tom Strauss iterates to the author is that customers have _____.
(a) Small brains.
(b) Long options.
(c) Short memories.
(d) Big wallets.

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

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

6. Ranieri tells Gutfreund that he is selling the [mortgage bond] technology for a _____.
(a) Pound of flesh.
(b) Hill of magic beans.
(c) Stable of horses.
(d) Good price.

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

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

9. CMO's are divided into slices, or _____.
(a) Branches.
(b) Departments.
(c) Compartments.
(d) Tranches.

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

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

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

13. This person is charged with coordinating all deals on the trading floor.
(a) A money market chairperson.
(b) A corporate coordinator.
(c) A syndicate manager.
(d) A portfolio manager.

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

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

Short Answer Questions

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

2. What is Latin for "buyer beware"?

3. What book does Conni Bruck write?

4. What is the chief occupational hazard of the trading floor?

5. What is another name for a call option?

(see the answer keys)

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