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

Multiple Choice Questions

1. In the Epilogue, Michael Lewis tells his readers about a lunch meeting he had with his former CEO at what company?
(a) Merrill Lynch.
(b) Oppenheimer and Co.
(c) Salomon Brothers.
(d) Bear Sterns.

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

3. Who was the head of the surveillance department at Moody in Chapter 7?
(a) Lewis Ranieri.
(b) Ernestine Warner.
(c) Greg Lippman.
(d) Vincent Daniel.

4. The mortgage boom and bust which is central in The Big Short: Inside the Doomsday Machine took place between what years?
(a) 2005-2008.
(b) 1999-2004.
(c) 2001-2007.
(d) 2002-2006.

5. When was John Gutfreund born?
(a) 1938.
(b) 1945.
(c) 1929.
(d) 1953.

6. In his Epilogue, what does the author amount to billion dollar gifts paid for by the American people?
(a) The bond market.
(b) The national parks.
(c) Government bailouts.
(d) Tax revenues.

7. How much did Mike Burry make for his investors from selling his CDSs in Chapter 9?
(a) Over $750 million.
(b) Over $300 million.
(c) Over $475 million.
(d) Over $200 million.

8. A percentage of FrontPoint was owned by what major investment firm?
(a) Merrill Lynch.
(b) Morgan Stanley.
(c) Citigroup.
(d) Wachovia.

9. Where did Meredith Whitney work when she predicted the need for Citigroup to slash their dividends or crash in 2007?
(a) Merrill Lynch.
(b) Wachovia.
(c) Bear Sterns.
(d) Oppenheimer and Co.

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

11. Reluctant to lose out on what Michael Burry was convinced would be a profitable investment, what did he do with his CDSs to keep his investors from taking their money back in Chapter 8?
(a) Side pocketed them.
(b) Sold them.
(c) Released them.
(d) Bought them.

12. Howie Hubler's company was so impressed with Hubler that they made him a unique deal by giving him what within their company in Chapter 9?
(a) An extraordary bonus.
(b) A house.
(c) Free investments.
(d) A money management firm.

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

14. In Chapter 6, Eisman realized that the CDO manager sitting next to him was selling CDOs that were synthesized from what?
(a) ISDAs.
(b) Other synthesized CDOs.
(c) CDSs.
(d) Tranches.

15. Where was the conference for subprime mortgage bond salesmen and buyers in Chapter 6?
(a) Chicago.
(b) New York.
(c) Las Vegas.
(d) Miami.

Short Answer Questions

1. The SEC was established by the United States Congress in what year?

2. When was the Morgan Stanley corporation founded?

3. When did Morgan Stanley purchase Smith Barney from Citigroup?

4. Salomon Brothers is now a subsidiary of what company?

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

(see the answer keys)

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