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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Timothy Geithner worked for the Treasury Department and what organization prior to his appointment as President of the Federal Reserve Bank of New York?
(a) The Bank of Rome
(b) The World Bank
(c) The Bank of Berlin
(d) The International Monetary Fund

2. Hank Paulson and his staff prepared a secret plan for how to deal with the situation should Lehman or another large firm go bankrupt, or if several banks should begin to fail at once. Who did they present their plan to in a meeting described by Sorkin in Chapter 4?
(a) Jim Cramer
(b) Michael Bloomberg
(c) Ben Bernanke
(d) Daniel A. Simkowitz

3. On what date did Lehman Brothers release its earnings report for the first quarter of 2008?
(a) March 18, 2008
(b) February 6, 2008
(c) June 22, 2008
(d) April 1, 2009

4. Where was Hank Paulson born?
(a) Palm Beach, FL
(b) Knoxville, TN
(c) Des Moines, IA
(d) Billings, MT

5. What was the largest and most prestigious investment bank in the nation that Jamie Dimon advised his staff could possibly file bankruptcy in the Prologue?
(a) Wells Fargo
(b) Barclays
(c) Wachovia
(d) Goldman Sachs

6. According to the author in Chapter 5, David Einhorn was a hedge manager controlling over how much money in assets?
(a) $10 billion
(b) $3 billion
(c) $12 billion
(d) $6 billion

7. Who did Hank Paulson succeed as Chief Executive of Goldman Sachs?
(a) Gerald Donini
(b) Jon Corzine
(c) Jamie Dimon
(d) David Einhorn

8. Gerald Donini asserts when speaking with Jim Cramer in Chapter 5 that he felt the real problem in the marketplace wasn’t short-selling, but what?
(a) Subprime lending
(b) Stocks
(c) Derivatives
(d) Naked-shorting

9. Dick Fuld had been pressing what old friend and former Chairman of AIG to put money into Lehman Brothers in Chapter 6?
(a) Frank Zarb
(b) Charlie Scharf
(c) Hank Greenberg
(d) Brian Moynihan

10. Jamie Dimon told Hank Paulson that JP Morgan had upped its offer from $2 per share to what in Chapter 2?
(a) $4 per share
(b) $16 per share
(c) $9 per share
(d) $10 per share

11. How old was Scott Friedheim described by the author in Chapter 6?
(a) 42
(b) 36
(c) 53
(d) 29

12. Who was the head of communications at Lehman Brothers in Chapter 6?
(a) Andrew Gowers
(b) Tony Ryan
(c) Michael Cavanaugh
(d) Jeremiah Norton

13. According to the author in Chapter 3, Geithner kept Jamie Dimon from abandoning the negotiations with Bear Stearns by working out a deal where the Federal Reserve lent money to Bear Stearns through JP Morgan, guaranteeing Morgan against how much in losses?
(a) $14 billion
(b) $18 billion
(c) $29 billion
(d) $5 billion

14. According to the author in Chapter 1, Henry Paulson called and informed Dick Fuld that Bear Stearns collapsed and that the U.S. Treasury had taken the step of backing how much in Bear Stearns assets to restore confidence in the market?
(a) $15 billion
(b) $8 billion
(c) $2 billion
(d) $30 billion

15. Who was the Chairman of the Federal Reserve in 2008?
(a) Ben Bernanke
(b) Jon Corzine
(c) Michael Bloomberg
(d) Jim Bunning

Short Answer Questions

1. Who did Scott Friedheim believe to be responsible for the leak to the Wall Street Journal in Chapter 6?

2. What were the quarterly losses that were announced at Lehman Brothers on June 9, 2008?

3. Bob Willumstad had been asked by the board of AIG to replace whom as CEO in Chapter 8?

4. Who did Bob Willumstad refer to as the former Chairman at AIG that thought Willumstad’s position was all or nothing in Chapter 8?

5. AIG began with what name in a small office in Shanghai in 1919?

(see the answer keys)

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