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

Multiple Choice Questions

1. Through the use of what, was Michael Burry guaranteed to only lose only the amount of the premium payments in Chapter 2?
(a) CDOs.
(b) ISDAs.
(c) Tranches.
(d) CDSs.

2. Steve Eisman got his job with Oppenheimer and Co. through whom?
(a) His uncle..
(b) His neighbor.
(c) His parents.
(d) A friend from college.

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

4. In Michael Burry's first credit default swap, he bought how many bonds?
(a) 15.
(b) 10.
(c) 12.
(d) 6.

5. What are divisions of mortgage bonds in which the mortgage bonds are divided into pieces?
(a) Collateral debt obligation.
(b) Credit default swap.
(c) Tranches.
(d) FICO Scores.

Short Answer Questions

1. At what age was Michael Lewis when he was shocked that Wall Street would allow him to buy and sell stocks, as described in the Prologue?

2. With Ben Hockett's help, Cornwall received a contract which allowed them to buy what?

3. In Chapter 7, Eisman came to the conclusion that none of the banks dealing in CDSs and CDOs really appreciated the disaster awaiting them because of what?

4. The alterations to bond ratings made by mortgage lenders in Chapter 4 led to such things as lending how much money to a migrant worker who made only $14,000 a year?

5. When did Scion Capital close business?

(see the answer key)

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