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This quiz consists of 5 multiple choice and 5 short answer questions through Dear Investors.

Multiple Choice Questions

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

2. How was Meriwether's career affected following the Treasury bill deal?
(a) He lost his job.
(b) He was made partner.
(c) He became a public speaker.
(d) He became a regulation advocate.

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

4. What did Long-Term expect foreign banks to invest?
(a) $100 million.
(b) $1 million.
(c) Only individuals could invest.
(d) $10 million.

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

Short Answer Questions

1. What was the typical scenario for bond investors in 1994?

2. Who did most funds have to be registered with?

3. Who gains from working with hedge funds?

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

5. What was J.F. Eckstein & Co. primarily working on in 1979?

(see the answer key)

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