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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. How much did Cornwall Capital Management make from selling its CDOs in Chapter 9?
(a) Over $240 million.
(b) Over $80 million.
(c) Over $120 million.
(d) Over $450 million.

2. Where was Ben Hockett on vacation when he hit the internet and quickly began selling the CDOs in Chapter 9?
(a) England.
(b) Hawaii.
(c) Jamaica.
(d) Ireland.

3. What company fell after Bear Sterns in Chapter 10?
(a) Chase Bank.
(b) Wachovia.
(c) Bank of America.
(d) Lehman Brothers.

4. Cornwall Capital Management ended with more than how much in CDOs in Chapter 7?
(a) $200 million.
(b) $450 million.
(c) $150 million.
(d) $600 million.

5. FrontPoint Partners is a subsidiary of what company?
(a) Wachovia.
(b) Bear Sterns.
(c) Morgan Stanley.
(d) Merrill Lynch.

Short Answer Questions

1. What does NASD stand for?

2. What was the profession of Michael Lewis' mother?

3. Howie Hubler was a bond trader for what company in Chapter 9?

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. 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?

Short Essay Questions

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

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

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

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

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

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

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

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

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

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

(see the answer keys)

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