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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. What is the central banking system of the United States?
(a) U.S. Bank.
(b) Wells Fargo.
(c) The Federal Reserve.
(d) The World Bank.

2. The first night of the conference in Chapter 6, Steve Eisman was seated next to a man named what?
(a) Charlie Ledley.
(b) Euguene Xu.
(c) Mike Burry.
(d) Wing Chau.

3. How much did Morgan Stanley settle with Deutsche Bank on the CDOs purchased from Hubler in Chapter 9?
(a) $600 million.
(b) $450 milllion.
(c) $350 million.
(d) $750 million.

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

5. At what university did Michael Burry study?
(a) Vanderbilt University School of Medicine.
(b) Harvard University School of Law.
(c) Yale University School of Medicine.
(d) Princeton University School of Law.

Short Answer Questions

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

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. What was the profession of Michael Lewis' father?

4. 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?

5. What is the title of the book's Epilogue?

Short Essay Questions

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

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

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

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

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

6. Who does the author describe meeting for lunch in the Epilogue?

7. What is a CDS?

8. What investors did Scion Capital face losing in Chapter 8? Why?

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

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

(see the answer keys)

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