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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 2-3.

Multiple Choice Questions

1. In finance, what occurs when a debtor has not met his or her legal obligations according to the debt contract?
(a) Refinancing.
(b) Default.
(c) Repossesion.
(d) Forclosure.

2. 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) 18.
(b) 17.
(c) 15.
(d) 24.

3. What mortgage lender did an Oppenheimer banker obtain information on from Steve Eisman in Chapter 1?
(a) Aames Financial.
(b) Gotham Capital.
(c) Bear Stearns.
(d) Citigroup.

4. Where did Michael Lewis grow up?
(a) Phoenix, Arizona.
(b) Denver, Colorado.
(c) Dallas, Texas.
(d) New Orleans, Louisiana.

5. On what date did the head of the International Monetary Fund warn that the world financial system was teetering on the "brink of systemic meltdown"?
(a) March 4, 2006.
(b) August 15, 2009.
(c) June 28, 2007.
(d) October 11, 2008.

Short Answer Questions

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

2. Where did Michael Burry share his thoughts on investing while learning what he could from others in Chapter 2?

3. Who began taking the bottom tranches of their mortgage bonds and packaging them together to create CDOs in Chapter 3?

4. Meredith Whitney was an analyst of financial firms for what company in 2007?

5. What refers to a cumulative number that suggests a consumer's credit risk?

(see the answer key)

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