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

Multiple Choice Questions

1. Once in business, what did Long-Term have an easy time getting from banks?
(a) Endorsements.
(b) Workers.
(c) Money.
(d) Personal information.

2. What hedge fund caused a pound devaluation in Europe but made over a billion dollars?
(a) Treasury Fund.
(b) Millenium Fund.
(c) Endowment Fund.
(d) Quantum Fund.

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

4. What did the traders accept about the financial models they used?
(a) They were expensive.
(b) They were imperfect.
(c) They were smarter than humans.
(d) They removed the element of surprise.

5. How long did Long-Term expect their investors to commit?
(a) 3 years.
(b) 3 months.
(c) 1 year.
(d) 6 months.

Short Answer Questions

1. Where did Meriwether work in 1979?

2. In 1994, why did the price of bonds drop?

3. Who gains from working with hedge funds?

4. How much money did Rosenfeld's business bring in?

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

(see the answer key)

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