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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. What company did Charlie Ledley and Jamie Mai investigate because of some legal troubles, deciding that the legal trouble would blow over and their low stock would soon rally in Chapter 5?

2. An investment corporation needs a contract through what in order to trade in securities that are traditionally only bought and sold between large investing bodies?

3. When was Michael Lewis born?

4. What majority-owned subsidiary of Fimalac, S.A., is a global rating agency dedicated to providing value beyond the rating through independent and prospective credit opinions, research and data?

5. In finance, what occurs when a debtor has not met his or her legal obligations according to the debt contract?

Short Essay Questions

1. What did Steve Eisman discover about Household Finance Corporation in Chapter 1?

2. What did Ledley and Mai discover about CDOs and CDSs in Chapter 5?

3. How are AIG FP's actions described in Chapter 3?

4. How did Charlie Ledley enter the bond market in Chapter 5?

5. How did Charlie Ledley's first investment pay out? What was the company's worth?

6. What important individuals and concepts are introduced in Chapter 1?

7. How does the author describe his impressions of Wall Street when he began working there in Chapter 1?

8. With whom did Charley Ledley work in New York? What individual did he meet from Berkeley, California in Chapter 5?

9. What report did Steve Eisman publish in 1997? Who assisted him?

10. Discuss Steve Eisman's work with mortgage bonds. How were mortgage bonds divided?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss Meredith Whitney, Oppenheimer and Co., and Citigroup. What market prediction brought great interest in Whitney?

Essay Topic 2

Discuss Charlie Ledley's objectives and obstacles at the Las Vegas conference. What did Ledley hope to achieve at the conference and what stood in his way?

Essay Topic 3

Discuss the role that Merrill Lynch played in the mortgage crisis of 2008. What actions did the company take which led directly or indirectly to the failings of banks?

(see the answer keys)

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