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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. Who was the head of the surveillance department at Moody in Chapter 7?

2. At the conference in Chapter 6, Charlie Ledley found himself being courted by what company and chiefly ignored by most of the other conference attendees?

3. The top bond traders of the 1980s called themselves by what nickname, becoming inspiration for the books The Bonfire of the Vanities and Liar's Poker?

4. Where did Meredith Whitney work when she predicted the need for Citigroup to slash their dividends or crash in 2007?

5. Salomon Brothers is now a subsidiary of what company?

Short Essay Questions

1. How did Michael Lewis begin his career as an author of financial books?

2. What did Morgan Stanley offer Howie Hubler in Chapter 9?

3. Who attended the conference described in Chapter 6? Where was it held?

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

5. What is a CDS?

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

7. What did Steve Eisman find himself drawn to at the conference in Chapter 6? Why?

8. What information did Steve Eisman discover about the rating companies in Chapter 7?

9. What would have caused most of the Wall Street banks to fail, according to the author in Chapter 10?

10. How did Howie Hubler get involved with CDO trading in Chapter 9?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Analyze and discuss the market strategies of Cornwall Capital Management after the Las Vegas conference. What concerns did Ledley and Mai bring to the SEC and what response did they get?

Essay Topic 2

Discuss ISDAs, Ace Greenburg, Bear Sterns and Ben Hockett. How did Hockett contribute to the evolution of Cornwall Capital Management?

Essay Topic 3

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

(see the answer keys)

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