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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. When Cornwall Capital Management moved to Bear Sterns, their account was handled by whom?

2. What did Michael Burry study in college?

3. What is a global financial service company with its headquarters in Frankfurt, Germany?

4. What does CDO stand for?

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

Short Essay Questions

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

2. What led Steve Eisman to open his own hedge fund?

3. What patterns did Steve Eisman's team discover in mortgage trading in Chapter 4?

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

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

6. How did Cornwall Capital Management secure an ISDA? What did this mean for the company?

7. How do stocks and bonds differ in trading?

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

9. What picture does the author paint of Steve Eisman and Wall Street in 2005 in Chapter 1?

10. What obstacles did Cornwall Capital Management face as a beginning business?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Describe the personality of Steve Eisman as detailed in the book. What characteristics made Eisman fit for the world of Wall Street?

Essay Topic 2

Describe the life and career of author Michael Lewis. What was the subject of Lewis' first book? What recognition did he earn from it?

Essay Topic 3

Describe Charlie Ledley, Jamie Mai, Cornwall Capital Management and Capital One Financial. What investments did Ledley and Mai make in establishing their company?

(see the answer keys)

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