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This quiz consists of 5 multiple choice and 5 short answer questions through Tug-of-War.

Multiple Choice Questions

1. Who did most funds have to be registered with?
(a) The Fed.
(b) SEC.
(c) Most funds did not have to be registered.
(d) CFTC.

2. In 1996, Long-Term was two and a half times larger than what company?
(a) Bank of America.
(b) Chase.
(c) Lehman Brothers.
(d) Fidelity Magellan.

3. Who ran the London office for Long-Term?
(a) Meriwether.
(b) Buffet.
(c) Mullins.
(d) Haghani.

4. In 1996, Long-Term had achieved thirty times its what?
(a) Proposed value.
(b) Starting capital.
(c) Original goal.
(d) Debt capacity.

5. How much did Long-Term earn in its first year of operation?
(a) 75%.
(b) 5%.
(c) 28%.
(d) 10%.

Short Answer Questions

1. How much money did Meriwether need to start Long-Term?

2. What did Long-Term expect foreign banks to invest?

3. In 1996, Long-Term was four times as large as what?

4. What affected bond trading in the 1970's?

5. What did the banks and investors use to estimate Long-Term's assets?

(see the answer key)

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