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This quiz consists of 5 multiple choice and 5 short answer questions through Dear Investors.

Multiple Choice Questions

1. What unusual event happened when Meriwether began working with Treasury futures?
(a) The U.S. government collapsed.
(b) The price rose.
(c) He lost millions.
(d) The price fell.

2. What was Meriwether's team allowed to do, following the Treasury bill deal?
(a) Spread trades.
(b) Vacation in Italy.
(c) Coach the office.
(d) Set Treasury standards.

3. How much did Long-Term plan to take from its profits?
(a) 10%.
(b) 30%.
(c) 25%.
(d) 15%.

4. In 1994, why did the yield raise on the thirty year Treasury bond?
(a) It rose 16%.
(b) It dropped 16%.
(c) It dropped 10%.
(d) It rose 5%.

5. What was the typical scenario for bond investors in 1994?
(a) Loss.
(b) Minimal gains.
(c) Few invested in bonds.
(d) Substantial gains.

Short Answer Questions

1. What hedge fund caused a pound devaluation in Europe but made over a billion dollars?

2. What financial crisis did Long-Term make it through that most of the market didn't?

3. What models did Long-Term follow?

4. In the 1970's, what type of trading was considered dull?

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

(see the answer key)

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