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

Multiple Choice Questions

1. The first night of the conference in Chapter 6, Steve Eisman was seated next to a man who was a CDO manager for what company?
(a) Standard & Poor's.
(b) Merrill Lynch.
(c) FrontPoint.
(d) Cornwall Capital Management.

2. Who asked Howie Hubler for money owed Deutsche Bank on the CDOs purchased from Hubler in Chapter 9?
(a) John Mack.
(b) Bernie Madoff.
(c) Greg Lippmann.
(d) James Wilson.

3. The mortgage boom and bust which is central in The Big Short: Inside the Doomsday Machine took place between what years?
(a) 1999-2004.
(b) 2001-2007.
(c) 2002-2006.
(d) 2005-2008.

4. What is a global financial service company with its headquarters in Frankfurt, Germany?
(a) Deutsche Bank.
(b) Oppenheimer and Co.
(c) Morgan Stanley.
(d) The Fitch Group.

5. With Ben Hockett's help, Cornwall received what contract?
(a) ISDA.
(b) BYR.
(c) CDO.
(d) JRCA.

Short Answer Questions

1. 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?

2. In Chapter 5, Ledley and Mai bought multi-million dollar triple-A CDOs rather than the triple-B CDOs who had purchased?

3. What mortgage lender did an Oppenheimer banker obtain information on from Steve Eisman in Chapter 1?

4. During their research, Ledley and Mai discovered that many CDOs were comprised of triple-B rated mortgages being sold as what?

5. 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?

(see the answer key)

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