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This quiz consists of 5 multiple choice and 5 short answer questions through On the Run.

Multiple Choice Questions

1. Who typically invested in hedge funds?
(a) Foreign banks.
(b) The general population.
(c) The Federal Reserve.
(d) A club of exclusive investors.

2. What notable invention changed the face of trading in the 1970's?
(a) The cell phone.
(b) The video camera.
(c) The computer.
(d) The scientific calculator.

3. How much money did Meriwether need to start Long-Term?
(a) $50 million.
(b) $2.5 billion.
(c) $1 billion.
(d) $100,000.

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

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

Short Answer Questions

1. What is the CFTC short for?

2. Who ran the London office for Long-Term?

3. Where was the Long-Term Capital Portfolio stored?

4. In 1993, what was happening more than usual in America?

5. Where were Italian bonds sold by Long-Term?

(see the answer key)

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