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

Multiple Choice Questions

1. In 1994, why did the price of bonds drop?
(a) Property value went down.
(b) The Fed lowered interest rates.
(c) The Fed raised interest rates.
(d) There was too much wealth in America.

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

3. When Meriwether increased his position in Treasury futures, what did he expect the market to do?
(a) Collapse.
(b) Drop substantially.
(c) Perform typically.
(d) Rise sharply overnight.

4. In the 1970's, what type of trading was considered dull?
(a) Securities.
(b) Gasoline.
(c) Corn.
(d) Bond.

5. Who became the temporary CEO of Meriwether's group when scandal hit?
(a) Paul Mozer.
(b) John Meriwether.
(c) Warren Buffet.
(d) J.F. Salomon.

Short Answer Questions

1. What is the CFTC short for?

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

3. What group did Meriwether found in 1977?

4. What were popular pools in 1993?

5. Who typically invested in hedge funds?

(see the answer key)

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