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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. 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) Bear Stearns.
(d) Morgan Stanley.

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

3. For what quickly flagging Wall Street firm was Eisman invited to make a speech in Chapter 10?
(a) Bear Sterns.
(b) Citigroup.
(c) Wachovia.
(d) Merrill Lynch.

4. What online database is maintained by the SEC from which investors can access information filed with the agency?
(a) GEORGE.
(b) EDGAR.
(c) MABEL.
(d) ROBB.

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

Short Answer Questions

1. The contract with which one of Scion's original investors was coming up in Chapter 8?

2. How much did Cornwall Capital Management make from selling its CDOs in Chapter 9?

3. Who began shorting the stocks of rating companies as well as many of the CDO managers in Chapter 6?

4. What is the central banking system of the United States?

5. After the conference in Chapters 6 and 7, who began buying millions of CDOs, anxious to buy as many as they could before it was too late?

Short Essay Questions

1. What actions from the 1980s does the author describe as leading up to the mortgage crisis in the Epilogue?

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

3. Who courted Charlie Ledley at the conference in Chapter 6? What was Ledley's objective at the conference?

4. What information did Steve Eisman discover about the rating companies in Chapter 7?

5. What did Charlie Ledley and Michael Burry do in the aftermath of the market disaster in Chapter 10?

6. What took place as Steve Eisman gave a speech in Chapter 10?

7. How much did Mike Burry make from his CDSs in Chapter 9? What was his outcome?

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

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

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

(see the answer keys)

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