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

Multiple Choice Questions

1. What did Long-Term do when IOs started to fall?
(a) Lie to investors.
(b) Buy them up.
(c) Sell their shares.
(d) Explain the situation to investors.

2. What did banks and investors want from Long-Term?
(a) It to shut down.
(b) To be involved.
(c) Regulation.
(d) Client referrals.

3. How much did Long-Term plan to take from its profits?
(a) 25%.
(b) 15%.
(c) 10%.
(d) 30%.

4. Who typically invested in hedge funds?
(a) The Federal Reserve.
(b) The general population.
(c) A club of exclusive investors.
(d) Foreign banks.

5. Who became the temporary CEO of Meriwether's group when scandal hit?
(a) J.F. Salomon.
(b) Warren Buffet.
(c) Paul Mozer.
(d) John Meriwether.

Short Answer Questions

1. Who gains from working with hedge funds?

2. What did Rosenfeld and his friend develop?

3. What did Meriwether do with his staff?

4. What did the letter Meriwether sent to his clients claim it was difficult to do with Long-Term?

5. What type of funds gained popularity in the 1990's?

(see the answer key)

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