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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. The woman who stated that her supervisors picked and chose which mortgage bonds would be triple-A rated despite her frequent recommendations that most of them be downgraded worked for what company in Chapter 4?

2. Who thought that if AIG stopped buying the bonds, the subprime mortgage bond market would collapse, making him a fortune in Chapter 3?

3. After Eisman's published report, there were no more public subprime mortgage lenders by what year, as described in Chapter 1?

4. For what company did Ben Hockett work when he met Jamie Mai?

5. When was Michael Lewis' first book published?

Short Essay Questions

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

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

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

4. How did Greg Lippmann go about finding investors in Chapter 3?

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

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

7. What intrigued Steve Eisman about CDSs in Chapter 3?

8. What drew Mike Burry to an interest in CDSs?

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

10. How did Steve Eisman come to work for Oppenheimer Co.? How is he described?

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

Describe Michael Burry's deals with Bank of America and Goldman Sachs in Chapter 2. How many CDSs did Burry purchase?

Essay Topic 3

Describe the conversation between Wing Chau and Steve Eisman in Chapter 6 and analyze the synthesized CDOs discussed. What does this information reveal?

(see the answer keys)

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