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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. When was the conference for subprime mortgage bond salesmen and buyers in Chapter 6?
(a) August, 2008.
(b) May, 2008.
(c) June, 2004.
(d) January, 2007.

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

3. What did "NASDAQ" originally stand for?
(a) National Association of Securities Dealers Automated Quotations.
(b) National Assets of Securities Dealers Automated Queries.
(c) Numbering Association of Stock Dealers Automated Quotations.
(d) National Association of Specialized Dealers in Automotive Quotations.

4. 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) A money management firm.
(b) An extraordary bonus.
(c) A house.
(d) Free investments.

5. At the conference in Chapter 6, Charlie Ledley found himself being courted by what company and chiefly ignored by most of the other conference attendees?
(a) Standard & Poor's.
(b) AIG FP.
(c) Morgan Stanley.
(d) Bear Stearns.

Short Answer Questions

1. 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?

2. During the first six months of what year did Mike Burry find himself struggling with his investors in Chapter 8?

3. How much did Mike Burry make for his investors from selling his CDSs in Chapter 9?

4. What nickname was John Gutfreund given by Business Week in 1985?

5. Analysts from where revealed to Eisman that no one truly understood these CDOs in Chapter 6?

Short Essay Questions

1. When did Howie Hubler disappear? How much did Morgan Stanley lose from his actions?

2. What did Morgan Stanley offer Howie Hubler in Chapter 9?

3. What conclusion did Steve Eisman reach regarding the CDSs and CDOs in Chapter 7?

4. Who attended the conference described in Chapter 6? Where was it held?

5. Who did Steve Eisman meet at the dinner held by Deutsche Bank in Chapter 6? What did he learn?

6. What was Wing Chau selling essentially, as discovered by Eisman in Chapter 6?

7. Why did Steve Eisman buy CDOs from Lippmann in Chapter 7?

8. What led Cornwall Capital Management to sell off their CDOs in Chapter 9? How much did they make?

9. What is a CDS?

10. Who took the hardest hit from the mortgage crisis, according to the author in his conclusion of the book?

(see the answer keys)

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