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

Multiple Choice Questions

1. Michael Burry could not bet against mortgage bonds in the same way he could other bonds because he could not short houses, only what?
(a) Construction workers.
(b) Government buildings.
(c) House builders.
(d) Commercial buildings.

2. When was Michael Lewis born?
(a) 1963.
(b) 1956.
(c) 1960.
(d) 1957.

3. Who agreed to a $5 million dollar deal with Michael Burry in Chapter 2?
(a) Cornwall Capital Management.
(b) Scion Capital
(c) Goldman Sachs.
(d) Bank of America.

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

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

Short Answer Questions

1. What does CDS stand for?

2. Steve Eisman discovered that what company was fraudulently selling fifteen year mortgages under the guise of thirty year mortgages?

3. Michael Burry worked as a resident in what field in Chapter 2?

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

5. When did Steve Eisman publish a report outlining the bad practices of the subprime mortgage lender in Chapter 1?

(see the answer key)

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