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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 6-7.

Multiple Choice Questions

1. In a short time, Michael Burry had credit default swaps worth what in subprime mortgage bonds in Chapter 2?
(a) $200 million.
(b) $750 million.
(c) $1 billion.
(d) $550 million.

2. In Chapter 3, soon all the CDSs AIG FP sold consisted primarily of what?
(a) Pork futures.
(b) Subprime mortgages.
(c) Auto loans.
(d) Gold and silver.

3. Who offered Michael Burry bonds at $100 million a deal in Chapter 2?
(a) Goldman Sachs.
(b) Deutsche Bank.
(c) Bank of America.
(d) Oppenheimer and Co.

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

5. What majority-owned subsidiary of Fimalac, S.A., is a global rating agency dedicated to providing value beyond the rating through independent and prospective credit opinions, research and data?
(a) Deutsche Bank.
(b) The Fitch Group.
(c) Standard & Poor's.
(d) Wachovia.

Short Answer Questions

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

2. In Chapter 7, Eisman came to the conclusion that none of the banks dealing in CDSs and CDOs really appreciated the disaster awaiting them because of what?

3. 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?

4. What does NYSE stand for?

5. When Cornwall Capital Management moved to Bear Sterns, their account was handled by whom?

(see the answer key)

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