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

2. Steve Eisman got his job with Oppenheimer and Co. through whom?
(a) A friend from college.
(b) His parents.
(c) His uncle..
(d) His neighbor.

3. 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) June 28, 2007.
(b) October 11, 2008.
(c) August 15, 2009.
(d) March 4, 2006.

4. In Chapter 5, Charlie Ledley and Jamie Mai continued to make risky investments until they had grown their investment company to how much?
(a) $30 million.
(b) $75 million.
(c) $200 million.
(d) $10 million.

5. What is the name of Mike Burry's investment group?
(a) Moody's.
(b) Oppenheimer and Co.
(c) Cornwall Capital Management.
(d) Scion Capital.

Short Answer Questions

1. In Chapter 5, Ledley and Mai bought multi-million dollar triple-A CDOs rather than the triple-B CDOs who had purchased?

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

3. What was Michael Lewis' first book?

4. The woman who stated that her supervisors picked and chose which mortgage bonds would be triple-A rated despite her frequent recommendations that most of them be downgraded worked for what company in Chapter 4?

5. As Steve Eisman's team investigated in Chapter 4, they found patterns in the people and states that what?

(see the answer key)

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