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

Multiple Choice Questions

1. In criminal law, what is an intentional deception made for personal gain or to damage another individual?
(a) Fraud.
(b) Heresy.
(c) Embezzlement.
(d) Contempt.

2. 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?
(a) $700 thousand.
(b) $350 thousand.
(c) $150 thousand.
(d) $500 thousand.

3. Who began taking the bottom tranches of their mortgage bonds and packaging them together to create CDOs in Chapter 3?
(a) Standard & Poor's.
(b) Goldman Sachs.
(c) Cornwall Capital Management.
(d) Scion Capital.

4. 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.

5. When did money manager Michael Burry become interested in bonds?
(a) 2004.
(b) 2000.
(c) 1996.
(d) 2002.

Short Answer Questions

1. What is the title of Chapter 4?

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

3. With whom did Michael Burry make his first credit default swap?

4. With how much capital did Charlie Ledley and his partner begin a hedge fund in Chapter 5?

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

(see the answer key)

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