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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 affected bond trading in the 1970's?
(a) The price of commodities.
(b) The international monetary crisis.
(c) The Vietnam War.
(d) The democratic elections.

2. What was practically impossible to determine about Long-Term?
(a) Actual fund assets.
(b) Where it was located.
(c) Who was in charge.
(d) Why it was doing so well.

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

4. What trading date dropped Long-Term below $1 billion in equity?
(a) October 10.
(b) April 15.
(c) September 21.
(d) September 5.

5. How long did Long-Term expect their investors to commit?
(a) 3 years.
(b) 3 months.
(c) 6 months.
(d) 1 year.

Short Answer Questions

1. After the meeting with the Fed, a market movement of what percentage could have ended Long-Term?

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

3. Who typically invested in hedge funds?

4. What did Long-Term want to do for investors?

5. What determines the swap rate in a country?

(see the answer key)

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