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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. Which department at Salomon Brothers is considered "the sleepy backwater"?
(a) Bond trading.
(b) Analysis.
(c) Equities.
(d) Corprate finance.

2. What does Lewis see as John Gutfreund's "calling card" as he makes his rounds in the trading floor?
(a) A hand-written note.
(b) Cigar ash.
(c) A slap on the back.
(d) Coffee grounds.

3. A trainee asks Horowitz about Salomon Brother's being blacklisted by whom?
(a) Catholics.
(b) Canadians.
(c) Arabs.
(d) South Africans.

4. Lewis sees John Meriwether as successful because he has the uncanny ability to do what?
(a) Hide his state of mind.
(b) Avoid bad press.
(c) Hide money.
(d) Time his trades.

5. What is the name of the trainee who was a former U.S. Navy fighter pilot?
(a) Susan James.
(b) Max Johnson.
(c) Joe Friedman.
(d) Mike Lewis.

Short Answer Questions

1. According to the author, in order for the home mortgage to become a bond, it has to be _____.

2. Which publication calls John Gutfreund the "King of Wall Street"?

3. A trainee asks Horowitz about why the company's largest shareholder is from which country?

4. With whom has the author received an invitation to dine?

5. The speaker who eventually wins the hearts and minds of the back row in the Salomon Brothers training program describes the trading floor as a _____.

Short Essay Questions

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

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

3. Why does Gutfreund challenge Meriwether to Liar's Poker?

4. The author uses the analogy of two benevolent hands that "stuff the turkey" that Wall Street firms eat the stuffing from. What does he mean by this?

5. How is trading supposedly like the jungle?

6. Why is Lewie Ranieri so loyal to Salomon Brothers?

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

8. What is the hard part of Liar's Poker?

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

10. What is the difference between managing and trading?

(see the answer keys)

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