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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. In Chapter 4, AIG FP did not get whose message as he assumed they had?

2. In criminal law, what is an intentional deception made for personal gain or to damage another individual?

3. Who offered Michael Burry bonds at $100 million a deal in Chapter 2?

4. What had Steve Eisman studied in college?

5. In 2007, Meredith Whitney announced that what company had so mismanaged its affairs that it would slash its dividend or crash?

Short Essay Questions

1. What was AIG FP's role in the stock market crash, as described in Chapter 3?

2. How are tranches differentiated in mortgage bonds?

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

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

5. What did Vincent Daniel discover about the ratings companies in Chapter 4?

6. What "expert" did Greg Lippmann bring to speak with Steve Eisman in Chapter 3? Why?

7. Who was the only person at AIG FP to investigate the company's CDSs in Chapter 4? What did he discover?

8. How is Mike Burry described in Chapter 3? What did he study before entering the stock market?

9. What did Steve Eisman's team conclude after analyzing the mortgage data in Chapter 4?

10. How do stocks and bonds differ in trading?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss Eisman and Daniel's 1997 report and its conclusions about subprime mortgage lending. How did the market change after the report's publication?

Essay Topic 2

Discuss AIG FP and its role in the mortgage crisis of 2008. Who became aware of the role AIG FP played in the disaster?

Essay Topic 3

Discuss Gene Park and Joe Cassano and the discoveries made by Park in Chapter 4. What was Cassano's reaction when approached with the information?

(see the answer keys)

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