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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 company was Kapor the founder of?
(a) Lochfield Growing Corporation.
(b) Lotus Development Corporation.
(c) Finance Development International.
(d) Circuit Finance, Inc.

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

3. What unusual event happened when Meriwether began working with Treasury futures?
(a) The U.S. government collapsed.
(b) The price fell.
(c) He lost millions.
(d) The price rose.

4. In 1996, how much did Long-Term have in assets?
(a) $120 million.
(b) $500 million.
(c) $140 billion.
(d) $1 billion.

5. What is the CFTC short for?
(a) Capitalism Fortune Trust Commonwealth.
(b) Commodities Futures Trading Commission.
(c) Counting Futures Trading Commodities.
(d) Commodities Finding True Commission.

Short Answer Questions

1. Where was the Long-Term Capital Portfolio stored?

2. What did Long-Term do with off-the-run bonds?

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

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

5. In 1996, Long-Term had achieved thirty times its what?

(see the answer key)

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