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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 6-7.

Multiple Choice Questions

1. Gene Park worked in offices where in Chapter 4?
(a) Connecticut.
(b) Rhode Island.
(c) Maine.
(d) Virginia.

2. Who offered Michael Burry bonds at $100 million a deal in Chapter 2?
(a) Bank of America.
(b) Deutsche Bank.
(c) Oppenheimer and Co.
(d) Goldman Sachs.

3. After the conference in Chapters 6 and 7, who began buying millions of CDOs, anxious to buy as many as they could before it was too late?
(a) Ledley and Eismann.
(b) Ledley, Mai, and Hockett.
(c) Mai and Hockett.
(d) Eismann, Burry, and Hockett.

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

5. When did Steve Eisman publish a report outlining the bad practices of the subprime mortgage lender in Chapter 1?
(a) 1990.
(b) 1994.
(c) 1997.
(d) 1988.

Short Answer Questions

1. What is a collection of one hundred different mortgage bonds, usually the riskiest that are combined to create a new group of bonds that could take the low rated bonds and reclassify them at a higher rate?

2. What refers to loans made to customers with less than perfect credit?

3. In Michael Burry's first credit default swap, he bought how many bonds?

4. Where did Michael Lewis work as a bond salesman after earning his Masters degree in Economics?

5. What does CDS stand for?

(see the answer key)

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