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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

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

2. A _____ of personal popularity is how Lewis thinks trainees are chosen by managers.
(a) Bee's nest.
(b) Cult.
(c) Grand illusion.
(d) Ponzi scheme.

3. As Lewis observes people in his firm, he finds that just as some people are mean drunks, mortgage traders are mean _____.
(a) Teachers.
(b) Gluttons.
(c) Parents.
(d) Dogs.

4. Which subway line drops off hoards of people to their Wall Street jobs?
(a) Belmont.
(b) Morris Heights.
(c) Lexington Avenue.
(d) Bedford Park.

5. The cafeteria kitchen at Salomon Brothers is known throughout Wall Street for its _____.
(a) Health inspection warnings.
(b) Cleanliness.
(c) Pretty cashiers.
(d) Bagels.

Short Answer Questions

1. Jim Massey is considered Gutfreund's _____.

2. Gutfreund's first love is ______.

3. By definition, an analyst's job lasts how long?

4. Lewis thinks Henry Kaufman is the guru of he bond market and also the _____ of Salomon Brothers.

5. People who do imitations of Michael Mortara often sound like _____.

Short Essay Questions

1. Why does one of the female trainees become the first person to finally talk to the author in the training program at Salomon Brothers?

2. What happens when the author has breakfast with Leo Corbett?

3. How does Meriwether beat Gutfreund before the game of Liar's Poker even starts?

4. How does Bob Dall react when he is replaced by Ranieri?

5. Describe the home-buying imbalance of the Rust Belt and the Sun Belt.

6. Why is the treasury trader king at Salomon Brothers?

7. What is unfortunate about the position Susan James has acquired at Salomon Brothers?

8. Why is a single home mortgage considered a messy investment for Wall Street?

9. What is meant by "no tears"?

10. Why are corporate financiers considered wimps by traders?

(see the answer keys)

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