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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 8-9.

Multiple Choice Questions

1. Steve Eisman's team discovered in Chapter 4 that the mortgage lenders were using what to alter the rating of their bonds?
(a) Insider trading.
(b) Hackers.
(c) Bad math.
(d) FICO scores.

2. Michael Burry could not bet against mortgage bonds in the same way he could other bonds because he could not short houses, only what?
(a) Construction workers.
(b) Government buildings.
(c) House builders.
(d) Commercial buildings.

3. What did Michael Burry study in college?
(a) Engineering.
(b) Medicine.
(c) History.
(d) Law.

4. What is the name of the investment group begun by Charlie Ledley and his partner in Chapter 5?
(a) Capital One Financial.
(b) Scion Capital.
(c) FrontPoint.
(d) Cornwall Capital Management.

5. Who went to a conference of subprime mortgage bond professionals and learned from a woman that her supervisors picked and chose which mortgage bonds would be triple-A rated despite her frequent recommendations that most of them be downgraded?
(a) Vincent Daniel.
(b) Ernestine Warner.
(c) Jamie Mai.
(d) Steve Eisman.

Short Answer Questions

1. As Steve Eisman's team investigated in Chapter 4, they found patterns in the people and states that what?

2. How much did Mike Burry make for his investors from selling his CDSs in Chapter 9?

3. Gene Park worked for what company in Chapter 4?

4. How much did Cornwall Capital Management make from selling its CDOs in Chapter 9?

5. What is a legal document that institutions and businesses use to describe the securities they are offering for participants and buyers?

(see the answer key)

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