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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 4-5.

Multiple Choice Questions

1. Where did Michael Burry share his thoughts on investing while learning what he could from others in Chapter 2?
(a) Wall street.
(b) Online social networks.
(c) Seminars.
(d) Church.

2. What companies approached Michael Burry and provided him with capital to begin his new company?
(a) Gotham Capital and White Mountains.
(b) Deutsche Bank and Standard & Poor's.
(c) Oppenheimer and Co. and Deutsche Bank.
(d) FrontPoint and Oppenheimer and Co.

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

4. 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) Credit default swap.
(b) FICO Scores.
(c) Tranches.
(d) Collateral debt obligation.

5. In whose garage did Charlie Ledley begin operating a hedge fund in Chapter 5?
(a) Greg Lippmann's.
(b) Mike Burry's.
(c) Jamie Mai's.
(d) Steve Eisman's.

Short Answer Questions

1. What does CDS stand for?

2. Steve Eisman's team discovered in Chapter 4 that the mortgage lenders were using what to alter the rating of their bonds?

3. 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?

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

5. What led Michael Burry to leave his original profession and become a money manager?

(see the answer key)

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