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

Multiple Choice Questions

1. Where did the private contracts Long-Term made in 1998 trade?
(a) In Russia.
(b) Privately.
(c) On the exchange.
(d) Overseas.

2. How much money did Long-Term earn in 1996?
(a) $100 million.
(b) $1 billion.
(c) $2.1 billion.
(d) $500 million.

3. How many employees were with Long-Term in 1996?
(a) Five hundred.
(b) Five.
(c) A couple dozen.
(d) Less than a dozen.

4. Meriwether was threatened with what, if his Treasury bill deal did not pan out?
(a) Death.
(b) A promotion.
(c) A lawsuit.
(d) Termination.

5. What type of funds gained popularity in the 1990's?
(a) Value.
(b) Mutual.
(c) Real estate.
(d) Treasury.

Short Answer Questions

1. At what level was the swap rate of the United States in April 1998?

2. How much of the face value of a bond do buyers typically pay?

3. What is the CFTC short for?

4. When Russia began to default on its loans, what did people start doing with their high risk bonds?

5. What did the traders accept about the financial models they used?

(see the answer key)

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