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

Multiple Choice Questions

1. 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) Government buildings.
(b) Construction workers.
(c) Commercial buildings.
(d) House builders.

2. In a short time, Michael Burry had credit default swaps worth what in subprime mortgage bonds in Chapter 2?
(a) $750 million.
(b) $1 billion.
(c) $550 million.
(d) $200 million.

3. What majority-owned subsidiary of Fimalac, S.A., is a global rating agency dedicated to providing value beyond the rating through independent and prospective credit opinions, research and data?
(a) Wachovia.
(b) Standard & Poor's.
(c) Deutsche Bank.
(d) The Fitch Group.

4. What is the title of Chapter 4?
(a) My Work in Mortgages.
(b) The Mortgage Harvest.
(c) Migrant Workers in Beverly Hills.
(d) How to Harvest a Migrant Worker.

5. Gene Park worked for what company in Chapter 4?
(a) Wachovia.
(b) AIG FP.
(c) FrontPoint.
(d) Standard & Poor's.

Short Answer Questions

1. Who from Deutsche Bank asked if they could buy the swaps back from Michael Burry in Chapter 2?

2. With Ben Hockett's help, Cornwall received what contract?

3. In criminal law, what is an intentional deception made for personal gain or to damage another individual?

4. How much did Morgan Stanley settle with Deutsche Bank on the CDOs purchased from Hubler in Chapter 9?

5. With how much capital did Charlie Ledley and his partner begin a hedge fund in Chapter 5?

(see the answer key)

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