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

2. On what date did Russia declare a debt moratorium?
(a) September 30.
(b) August 17.
(c) August 31.
(d) July 4.

3. Who did most funds have to be registered with?
(a) The Fed.
(b) SEC.
(c) Most funds did not have to be registered.
(d) CFTC.

4. How much did Long-Term earn in its first year of operation?
(a) 28%.
(b) 5%.
(c) 10%.
(d) 75%.

5. In August 1998, how far down was Long-Term for the month?
(a) 60%.
(b) 25%.
(c) 10%.
(d) 44%.

Short Answer Questions

1. During the financial crisis in 1998, what did the partners keep from the workers?

2. In 1996, who did Long-Term first approach to handle their credit?

3. What did Long-Term risk losing if they allowed their assets to fall below five hundred million dollars?

4. What word did people often use to describe Long-Term?

5. What is the CFTC short for?

(see the answer key)

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