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This quiz consists of 5 multiple choice and 5 short answer questions through At the Fed.

Multiple Choice Questions

1. What resource close to Long-Term began to experience financial difficulties following the financial problems in Russia?
(a) Long-Term's management company.
(b) Latin America.
(c) Long-Term's audit company.
(d) Italy.

2. In 1996, what was the second bank Long-Term approached about financing their credit?
(a) International Banking System.
(b) National Bank of Russia.
(c) Union Bank of Switzerland.
(d) The Italian Republic of Banks.

3. When did the Russian market begin to fail?
(a) August 1998.
(b) September 1998.
(c) April 1998.
(d) May 1998.

4. What did Black and Scholes think price changes were?
(a) Random events.
(b) Common occurences.
(c) Smart corrections.
(d) Dangerous.

5. How much money did Rosenfeld's business bring in?
(a) Hundreds of thousands.
(b) Five million.
(c) A couple thousand.
(d) Two million.

Short Answer Questions

1. Who charged Long-Term much lower fees than other clients?

2. What regulation did Long-Term bypass when trading equities?

3. When Russia first experienced turmoil, Long-Term was confident that what would happen?

4. How much money did Meriwether need to start Long-Term?

5. What did Rosenfeld and his friend develop?

(see the answer key)

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