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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. On what date does the author write the face of Wall Street changed in Chapter 10?

2. To what floor did Howie Hubler move after making a unique deal with his company in Chapter 9?

3. The first night of the conference in Chapter 6, Steve Eisman found himself attending a dinner thrown by what company?

4. Cornwall Capital Management ended with more than how much in CDOs in Chapter 7?

5. What is the title of Chapter 7?

Short Essay Questions

1. Why did Steve Eisman buy CDOs from Lippmann in Chapter 7?

2. What fraudulent actions did Mike Burry take in Chapter 8? Why?

3. Who took the hardest hit from the mortgage crisis, according to the author in his conclusion of the book?

4. What impact did the conference have on Cornwall Capital Management in Chapter 7?

5. What took place as Steve Eisman gave a speech in Chapter 10?

6. Who courted Charlie Ledley at the conference in Chapter 6? What was Ledley's objective at the conference?

7. What conclusion did Steve Eisman reach regarding the CDSs and CDOs in Chapter 7?

8. What eventually led to Morgan Stanley questioning the actions of Howie Hubler?

9. For how much did Morgan Stanley settle on the CDOs in Chapter 9?

10. What role did Ben Hockett play in the success of Cornwall Capital Management?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss Cornwall Capital Management in comparison with Scion and FrontPoint. How did each of these companies compare in terms of assets and investors?

Essay Topic 2

Describe FICO and the role of rating systems in the mortgage crisis. From whom did Eisman make the discoveries about the ratings companies?

Essay Topic 3

Define and discuss CDSs and CDOs. How many different mortgage bonds comprise a CDO and from what tranches are they chosen?

(see the answer keys)

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