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This quiz consists of 5 multiple choice and 5 short answer questions through Prologue and Chapter 1.

Multiple Choice Questions

1. In 2007, Meredith Whitney announced that what company had so mismanaged its affairs that it would slash its dividend or crash?
(a) The Fitch Group.
(b) Salomon Brothers.
(c) Gotham Capital.
(d) Citigroup.

2. 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?
(a) FICO Scores.
(b) Collateral debt obligation.
(c) Credit default swap.
(d) Tranches.

3. With whose assistance did Steve Eisman publish a report outlining the bad practices of the subprime mortgage lender in Chapter 1?
(a) Vincent Daniel's.
(b) Greg Lippmann's.
(c) Michael Lewis'.
(d) Meredith Whitney's.

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

5. 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?
(a) 24.
(b) 15.
(c) 17.
(d) 18.

Short Answer Questions

1. What had Steve Eisman studied in college?

2. What are divisions of mortgage bonds in which the mortgage bonds are divided into pieces?

3. What are bonds that are made up of mortgages sold to consumers by banks?

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

5. What was Michael Lewis' first book?

(see the answer key)

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