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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. What does AIG FP stand for?
(a) American Investment Group Financial Portfolios.
(b) American International Group Financial Products.
(c) American International Group Fiscal Products.
(d) American Investment Group Financial Portfolios.

2. In whose garage did Charlie Ledley begin operating a hedge fund in Chapter 5?
(a) Mike Burry's.
(b) Steve Eisman's.
(c) Jamie Mai's.
(d) Greg Lippmann's.

3. When was Michael Lewis' first book published?
(a) 1983.
(b) 1985.
(c) 1989.
(d) 1979.

4. The sale of CDSs grew AIG FP so quickly that it provided what percent of AIG's profits in Chapter 3?
(a) 25.
(b) 35.
(c) 20.
(d) 15.

5. When Cornwall Capital Management moved to Bear Sterns, their account was handled by whom?
(a) Steve Eismann.
(b) Ace Greenburg.
(c) Michael Lewis.
(d) Lewis Ranieri.

Short Answer Questions

1. Who agreed to a $5 million dollar deal with Michael Burry in Chapter 2?

2. Where did Ben Hockett live and make investments from in Chapter 5?

3. When did money manager Michael Burry become interested in bonds?

4. Steve Eisman got his job with Oppenheimer and Co. through whom?

5. During their research, Ledley and Mai discovered that many CDOs were comprised of triple-B rated mortgages being sold as what?

Short Essay Questions

1. How did Steve Eisman come to work for Oppenheimer Co.? How is he described?

2. What report did Steve Eisman publish in 1997? Who assisted him?

3. What led Steve Eisman to open his own hedge fund?

4. What intrigued Steve Eisman about CDSs in Chapter 3?

5. What did Ledley and Mai discover about CDOs and CDSs in Chapter 5?

6. What did Steve Eisman discover about Household Finance Corporation in Chapter 1?

7. What patterns did Steve Eisman's team discover in mortgage trading in Chapter 4?

8. What was AIG FP's role in the stock market crash, as described in Chapter 3?

9. What obstacles did Cornwall Capital Management face as a beginning business?

10. With whom did Charley Ledley work in New York? What individual did he meet from Berkeley, California in Chapter 5?

(see the answer keys)

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