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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 factor was forcing those with hedge funds to sell?
(a) Lack of credit.
(b) Toxic assets.
(c) Ample credit.
(d) The Fed's involvement.

2. In 1998, who published Meriwether's letter to his clients?
(a) The Financial Times.
(b) The New Yorker.
(c) Bloomberg.
(d) The New York Times.

3. What hedge fund caused a pound devaluation in Europe but made over a billion dollars?
(a) Endowment Fund.
(b) Treasury Fund.
(c) Quantum Fund.
(d) Millenium Fund.

4. In 1998, what act led Long-Term to a fall?
(a) Putting money into Italy.
(b) Shorting the U.S. market.
(c) Investing in the Asian market.
(d) Shorting the Russian market.

5. What did Long-Term avoid by working with derivatives instead of stocks?
(a) Outside interest.
(b) Fees.
(c) Disclosure.
(d) Profit.

Short Answer Questions

1. Where did Meriwether work in 1979?

2. To create a paired-share, what is common stock partnered with?

3. During the financial crisis in 1998, what did the partners keep from the workers?

4. When did Long-Term start losing money?

5. What was Long-Term's signature trade?

(see the answer key)

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