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

Multiple Choice Questions

1. Why did Long-Term trade in Italy?
(a) It was a safe market.
(b) The tax write-off opportunity.
(c) The opportunity for big returns.
(d) Meriwether was Italian.

2. What notable company went bankrupt in the 1970's?
(a) Penn Central Railroad.
(b) Penn North Distillery.
(c) Penn Coal.
(d) Penn Weapons Industry.

3. What level of risk did Long-Term offer?
(a) None.
(b) Medium.
(c) High.
(d) Low.

4. In 1994, what market did Long-Term begin to express an interest in?
(a) Chinese.
(b) Chicago.
(c) Local.
(d) International.

5. What did Long-Term do with off-the-run bonds?
(a) Loan them to other firms.
(b) Avoid them.
(c) Hold them for profit.
(d) Unload them quickly.

Short Answer Questions

1. What happened to Meriwether's Treasury bill deal before it was resolved?

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

3. What unusual event happened when Meriwether began working with Treasury futures?

4. What is the method of paying a percentage of a bond called?

5. What did a dealer from J.F. Eckstein & Co. want from Meriwether in 1979?

(see the answer key)

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