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

Multiple Choice Questions

1. Why did Rosenfeld choose not to co-found Kapor's project?
(a) He was too interested in finance.
(b) He was competitive with Kapor.
(c) He did not like Kapor.
(d) He was too interested in travel.

2. Michael Steindardt believed what was the "culprit in 1994"?
(a) Leverage.
(b) Wealth.
(c) Foolish investments.
(d) Poverty.

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

4. How was Meriwether's career affected following the Treasury bill deal?
(a) He was made partner.
(b) He became a public speaker.
(c) He became a regulation advocate.
(d) He lost his job.

5. How much of the face value of a bond do buyers typically pay?
(a) 10%.
(b) 25%.
(c) 15%.
(d) 1%.

Short Answer Questions

1. How long did Long-Term expect their investors to commit?

2. What type of government paper was bought in Italy?

3. What did Meriwether warn his investors against in 1994?

4. In bond trading, what are loans backed by collateral called?

5. Where was the London office for Long-Term located?

(see the answer key)

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