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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Who is the 29th chairperson of the SEC?
(a) Mary Schapiro.
(b) William H. Donaldson.
(c) Gerald Robinson.
(d) Christopher Cox.

2. In Chapter 10, one of whose partners had a panic attack as he tried to keep his eye on the investments his fund had made in shorting the Wall Street banks?
(a) James Jackson's.
(b) Andrew Warner's.
(c) Michael Lewis'.
(d) Steve Eisman's.

3. Morgan Stanley lost more than how much on Hubler's CDO deals, as described in Chapter 9?
(a) $9 billion.
(b) $4 billion.
(c) $5 billion.
(d) $3 billion.

4. Salomon Brothers is now a subsidiary of what company?
(a) Citigroup.
(b) Bear Sterns.
(c) U.S. Bank.
(d) Wachovia.

5. The contract with which one of Scion's original investors was coming up in Chapter 8?
(a) Merrill Lynch.
(b) Citigroup.
(c) Wachovia.
(d) Gotham.

6. What nickname was John Gutfreund given by Business Week in 1985?
(a) "King of Wall Street".
(b) "King of the Hill".
(c) "Wall Street's Tycoon".
(d) "Mob Boss".

7. Who was the head of Salomon Brothers' mortgage department in the 1980s and featured in the book Liar's Poker?
(a) James Lewis.
(b) Lewis Ranieri.
(c) Michael Lewis.
(d) Andrew Jackson.

8. On what date does the author write the face of Wall Street changed in Chapter 10?
(a) June 3, 2006.
(b) September 18, 2008.
(c) August 4, 2007.
(d) October 31, 2007.

9. In Chapter 7, Eisman not only bought the CDOs offered by Lippmann, but he also began to short who?
(a) The Wall Street banks involved in these bonds.
(b) The London banks involved with the bonds.
(c) The SEC.
(d) The Federal Reserve.

10. Who wrote the book "The Greatest Trade Ever: How John Paulson Bet Against The Markets and Made $20 Billion"?
(a) Jim Smith.
(b) Anderson Cooper.
(c) Gregory Zuckerman.
(d) Andrew Jackson.

11. What does FINRA stand for?
(a) Financial Industry Regulatory Authority, Inc.
(b) Fiscal Imaginaton Repression Agency.
(c) Fiscal Investment Recovery Act.
(d) Future Inverstment Reparations Act.

12. What is the central banking system of the United States?
(a) The World Bank.
(b) The Federal Reserve.
(c) U.S. Bank.
(d) Wells Fargo.

13. In Chapter 9 the author writes that it became apparent that no one at Morgan Stanley fully understood the CDO deals, including who?
(a) John Mack.
(b) Jim Beaston.
(c) James Wilson.
(d) Michael Ewing.

14. How much money did Howie Hubler owe Deutsche Bank on the CDOs purchased from Hubler in Chapter 9?
(a) $750 million.
(b) $900 million.
(c) $1.2 billion.
(d) $650 million.

15. How much ownership was Howie Hubler over his own company in the deal in Chapter 9?
(a) 50%.
(b) 75%.
(c) 60%.
(d) 65%.

Short Answer Questions

1. What is the title of Chapter 8?

2. To what floor did Howie Hubler move after making a unique deal with his company in Chapter 9?

3. At the conference in Chapter 6, Charlie Ledley spoke a man from what company that would eventually do business with Ledley's hedge fund?

4. Who had the bright idea to set up a fund to sue the rating companies whom they blamed for the fiasco in Chapter 10?

5. The first night of the conference in Chapter 6, Steve Eisman was seated next to a man who was a CDO manager for what company?

(see the answer keys)

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