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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 did Howie Hubler go on vacation and never return in Chapter 9?
(a) April, 2006.
(b) July, 2002.
(c) October, 2007.
(d) March, 2005.

2. In Chapter 9 the author writes that it became apparent that no one at Morgan Stanley fully understood the CDO deals, including who?
(a) James Wilson.
(b) Jim Beaston.
(c) John Mack.
(d) Michael Ewing.

3. When was John Gutfreund born?
(a) 1953.
(b) 1945.
(c) 1938.
(d) 1929.

4. Howie Hubler was a bond trader for what company in Chapter 9?
(a) Morgan Stanley.
(b) Wachovia.
(c) Bear Sterns.
(d) Merrill Lynch.

5. What does the SEC refer to?
(a) Speculators and Experts Council.
(b) Special Experts Conglomerate.
(c) Sellers and Engineers Committee.
(d) Securities and Exchange Commission.

Short Answer Questions

1. When did Scion Capital open business?

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

3. After the conference in Chapter 6, Eisman and his group began paying close attention to what?

4. In Chapter 8, Michael Burry found that his reports to his investors were appearing more and more bleak because of his heavy investment in what?

5. A percentage of FrontPoint was owned by what major investment firm?

Short Essay Questions

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

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

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

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

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

6. What would have caused most of the Wall Street banks to fail, according to the author in Chapter 10?

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

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

9. What did Steve Eisman find himself drawn to at the conference in Chapter 6? Why?

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

(see the answer keys)

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