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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 CEO of Morgan Stanley at the time Hubler was selling CDOs in Chapter 9?

2. What was the profession of Michael Lewis' father?

3. The contract with which one of Scion's original investors was coming up in Chapter 8?

4. What does FINRA stand for?

5. Cornwall Capital Management began quickly selling their CDOs in Chapter 9 because they were suddenly concerned with whose ability to pay?

Short Essay Questions

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

2. What led Cornwall Capital Management to sell off their CDOs in Chapter 9? How much did they make?

3. What did Charlie Ledley and Michael Burry do in the aftermath of the market disaster in Chapter 10?

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

5. How much did Mike Burry make from his CDSs in Chapter 9? What was his outcome?

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

7. How many CDOs did Cornwall Capital Management acquire after the conference in Chapter 7?

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

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

10. What actions from the 1980s does the author describe as leading up to the mortgage crisis in the Epilogue?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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 2

Discuss Eisman and Daniel's 1997 report and its conclusions about subprime mortgage lending. How did the market change after the report's publication?

Essay Topic 3

Discuss Meredith Whitney, Oppenheimer and Co., and Citigroup. What market prediction brought great interest in Whitney?

(see the answer keys)

This section contains 900 words (approx. 3 pages at 300 words per page) View a FREE sample