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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 is the name of the investment group begun by Charlie Ledley and his partner in Chapter 5?

2. In Michael Burry's first credit default swap, what was the rate of each bond purchased?

3. Where did Ben Hockett live and make investments from in Chapter 5?

4. In what year did Steve Eisman stop working as an analyst and start his own hedge fund?

5. What is the name of the investment group Steve Eisman formed after quitting his job as a bond analyst?

Short Essay Questions

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

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

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

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

5. How did Greg Lippmann believe he could make a fortune in the subprime mortgage industry in Chapter 3?

6. How are tranches differentiated in mortgage bonds?

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

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

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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?

Essay Topic 2

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

Essay Topic 3

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?

(see the answer keys)

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