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This quiz consists of 5 multiple choice and 5 short answer questions through The Fall.

Multiple Choice Questions

1. What did the Fed Chairman want to remove in an effort to create liquidity in the market?
(a) Short rules.
(b) Trading rules.
(c) Stock rules.
(d) Margin rules.

2. In 1996, what was the second bank Long-Term approached about financing their credit?
(a) International Banking System.
(b) The Italian Republic of Banks.
(c) National Bank of Russia.
(d) Union Bank of Switzerland.

3. What year did Meriwether hire Myron Scholes?
(a) 1993.
(b) 1994.
(c) 1996.
(d) 1995.

4. What did the letter Meriwether sent to his clients claim it was difficult to do with Long-Term?
(a) Take legal action.
(b) Get a job.
(c) Make money.
(d) Lose money.

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

Short Answer Questions

1. What unusual event happened when Meriwether began working with Treasury futures?

2. What was practically impossible to determine about Long-Term?

3. What factor was forcing those with hedge funds to sell?

4. In its first bad year, what did Long-Term maintain?

5. In 1996, what was Meriwether encouraging Long-Term to do?

(see the answer key)

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