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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 wrote the book "The Greatest Trade Ever: How John Paulson Bet Against The Markets and Made $20 Billion"?
(a) Andrew Jackson.
(b) Anderson Cooper.
(c) Jim Smith.
(d) Gregory Zuckerman.

2. The SEC was established by the United States Congress in what year?
(a) 1928.
(b) 1933.
(c) 1937.
(d) 1930.

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

4. John Gutfreund turned what company from a private partnership into a publicly traded corporation?
(a) Oppenheimer and Co.
(b) Lehman Brothers.
(c) Salomon Brothers.
(d) Bear Sterns.

5. In Chapter 9, Lippmann gave Hubler several chances to back out of the deal at a loss, but Hubler continuously refused until finally settling with Deutsche Bank for more than how much?
(a) $900 million.
(b) $1 billion.
(c) $3 billion.
(d) $800 million.

Short Answer Questions

1. When did FrontPoint close its health fund in amid accusations of insider trading and an FBI probe?

2. Who had the bright idea to set up a fund to sue the rating companies whom they blamed for the fiasco in Chapter 10?

3. Asperger's syndrome differs from other autistic disorders by its relative preservation of development in what areas?

4. Who is an American former stockbroker, investment adviser, non-executive chairman of the NASDAQ stock market, and the admitted operator of what has been described as the largest Ponzi scheme in history?

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

Short Essay Questions

1. What fraudulent actions did Mike Burry take in Chapter 8? Why?

2. What impact did the conference have on Cornwall Capital Management in Chapter 7?

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

4. How many CDOs did Cornwall Capital Management acquire after the conference in Chapter 7?

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

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

7. What eventually led to Morgan Stanley questioning the actions of Howie Hubler?

8. How does the author describe the events at FrontPoint on September 18, 2008?

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

10. Why did Mike Burry's reports to investors appear bleak in Chapter 8?

(see the answer keys)

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