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

2. 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.

3. How old was Charlie Ledley when he moved to California to create a hedge fund?
(a) 27.
(b) 21.
(c) 18.
(d) 30.

4. Who began taking the bottom tranches of their mortgage bonds and packaging them together to create CDOs in Chapter 3?
(a) Goldman Sachs.
(b) Standard & Poor's.
(c) Cornwall Capital Management.
(d) Scion Capital.

5. What Chinese national who came in second in a math competition in China accompanied Greg Lippmann in Chapter 3?
(a) Michael Oher.
(b) Euguene Xu.
(c) Steve Eisman.
(d) Meredith Whitney.

Short Answer Questions

1. What company did Charlie Ledley and Jamie Mai investigate because of some legal troubles, deciding that the legal trouble would blow over and their low stock would soon rally in Chapter 5?

2. When was Michael Lewis' first book published?

3. With Ben Hockett's help, Cornwall received a contract which allowed them to buy what?

4. What refers to a cumulative number that suggests a consumer's credit risk?

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

Short Essay Questions

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

2. What did Goldman Sachs begin doing with their bottom tranches in Chapter 3?

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

4. What did Steve Eisman's team conclude after analyzing the mortgage data in Chapter 4?

5. How did Charlie Ledley enter the bond market in Chapter 5?

6. How is Mike Burry described in Chapter 3? What did he study before entering the stock market?

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

8. How do stocks and bonds differ in trading?

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

10. What did Vincent Daniel discover about the ratings companies in Chapter 4?

(see the answer keys)

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