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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. Gutfreund's first love is ______.
(a) Posing for photo ops.
(b) Managing.
(c) Philosophizing.
(d) Trading.

2. What aspect of the dollar bill is the integral component of Liar's Poker?
(a) The owner.
(b) The year.
(c) The serial number.
(d) The mint.

3. What is the nickname of Horowitz?
(a) Uncle Dale.
(b) Papa Horowitz.
(c) The Jackknife.
(d) The hatchet man.

4. Wall Street has a river at one end and a ______ at the other.
(a) Train station.
(b) Cesspool.
(c) Graveyard.
(d) Pot of gold.

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

Short Answer Questions

1. The author describes England as the land of ________.

2. A challenge in Liar's Poker is like saying _______.

3. One of the major incentives that legislators create to encourage the borrowing of money is the _____ of mortgage payments.

4. Where is the author living in 1984?

5. A row of Bic fine-point pens in a plastic case in the breast pocket of someone who works on Wall Street is commonly called a _____.

Short Essay Questions

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

2. What is meant by "no tears"?

3. How does the code of Liar's Poker affect a trader?

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

5. How does the author compare economics to art history?

6. What do the trainees have planned for the morning Gutfreund is supposed to speak to the class?

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

8. What does Lewis see as being the first inalienable right of the Salomon Brothers trainee?

9. What happens as a result of the surge in the number of students who get economics degrees?

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

(see the answer keys)

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