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This quiz consists of 5 multiple choice and 5 short answer questions through Bank of Volatility.

Multiple Choice Questions

1. What did the letter Meriwether sent to his clients claim it was difficult to do with Long-Term?
(a) Lose money.
(b) Make money.
(c) Take legal action.
(d) Get a job.

2. Where was David W. Mullins working when Meriwether hired him?
(a) Salomon Brothers.
(b) Yale School of Finance.
(c) The United Nations.
(d) Federal Reserve.

3. What did Long-Term want to do for investors?
(a) Make money.
(b) Build trust.
(c) Limit risk.
(d) All of these.

4. In 1996, what was Long-Term seeking from the bank that would handle their credit?
(a) Tax shelter.
(b) Legitimacy.
(c) Cash flow.
(d) Asset storage.

5. Who gains from working with hedge funds?
(a) Impoverished countries.
(b) The government.
(c) Women.
(d) Managers.

Short Answer Questions

1. Who helped Meriwether raise money for Long-Term?

2. What type of strategy did Long-Term employ?

3. By the end of 1996, what was the status of the credit financing Long-Term wanted?

4. In 1998, what type of contracts did Long-Term make with private entities?

5. What did Black and Scholes think price changes were?

(see the answer key)

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