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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 begin cataloging his investments and their results, which drew interest from Wall Street brokers without Burry's knowledge?
(a) A blog.
(b) A library.
(c) A newspaper.
(d) A magazine.

2. When did Steve Eisman publish a report outlining the bad practices of the subprime mortgage lender in Chapter 1?
(a) 1994.
(b) 1988.
(c) 1997.
(d) 1990.

3. In Chapter 5, Ledley and Mai bought multi-million dollar triple-A CDOs rather than the triple-B CDOs who had purchased?
(a) Cassano and Burry.
(b) Lippmann and Xu.
(c) Lippmann and Cassano.
(d) Burry and Eisman.

4. In Michael Burry's first credit default swap, what was the rate of each bond purchased?
(a) $7 million.
(b) $1 million.
(c) $10 million.
(d) $3 million.

5. What led Michael Burry to leave his original profession and become a money manager?
(a) His father's death.
(b) His daughter's birth.
(c) His son's birth.
(d) His wife's death.

Short Answer Questions

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

2. With the creation of ______, mortgage companies became inspired to grow quickly and offer a great many loans to customers.

3. What did Michael Burry study in college?

4. What refers to loans made to customers with less than perfect credit?

5. What are bonds that are made up of mortgages sold to consumers by banks?

(see the answer key)

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