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

Multiple Choice Questions

1. What was the internal climate at Long-Term in 1998?
(a) Negative.
(b) Deteriorating.
(c) Positive.
(d) The same as always.

2. By the end of 1996, what was the status of the credit financing Long-Term wanted?
(a) No one would finance them.
(b) They still did not have it.
(c) They had financing.
(d) All of these.

3. When Russia first experienced turmoil, Long-Term was confident that what would happen?
(a) Spreads would never meet.
(b) The country would recover.
(c) Investors would back out.
(d) Spreads would converge.

4. After the financial crisis in Russia, what did Long-Term regret?
(a) All of these.
(b) Forcing investors to take back money.
(c) Creating deals that were not liquid.
(d) Creating private deals.

5. In August 1998, how far down was Long-Term for the month?
(a) 60%.
(b) 44%.
(c) 10%.
(d) 25%.

Short Answer Questions

1. What was Long-Term's signature trade based on?

2. In 1994, why did the yield raise on the thirty year Treasury bond?

3. When did Long-Term start losing money?

4. What was the typical scenario for bond investors in 1994?

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

(see the answer key)

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