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

Multiple Choice Questions

1. What is the method of paying a percentage of a bond called?
(a) A haircut.
(b) A bond fee.
(c) A percentage price.
(d) A trim.

2. Who helped Meriwether raise money for Long-Term?
(a) Merrill Lynch.
(b) No one.
(c) Salomon Brothers.
(d) Warren Buffet.

3. What type of funds gained popularity in the 1990's?
(a) Real estate.
(b) Mutual.
(c) Value.
(d) Treasury.

4. What did Meriwether do with his staff?
(a) Travel.
(b) Dine.
(c) Play golf.
(d) All of these.

5. In 1994, why did the yield raise on the thirty year Treasury bond?
(a) It dropped 10%.
(b) It rose 5%.
(c) It dropped 16%.
(d) It rose 16%.

Short Answer Questions

1. In order for Meriwether's Treasury futures investment to work, what did he need market prices to do?

2. During the time period in "Hedge Fund", how many people were millionaires due to the stock market?

3. What type of strategy did Long-Term employ?

4. What is the CFTC short for?

5. What level of risk did Long-Term offer?

(see the answer key)

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