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

Multiple Choice Questions

1. What word did people often use to describe Long-Term?
(a) Communist.
(b) Stupid.
(c) Genius.
(d) Dangerous.

2. Where was the Long-Term Capital Portfolio stored?
(a) Cayman Islands.
(b) Bermuda.
(c) Switzerland.
(d) Germany.

3. Why did Rosenfeld choose not to co-found Kapor's project?
(a) He was too interested in travel.
(b) He was too interested in finance.
(c) He was competitive with Kapor.
(d) He did not like Kapor.

4. What is the method of paying a percentage of a bond called?
(a) A haircut.
(b) A trim.
(c) A bond fee.
(d) A percentage price.

5. During the financial crisis in 1998, what did the partners keep from the workers?
(a) Hope.
(b) Profits.
(c) Information.
(d) Money.

Short Answer Questions

1. How much money did Meriwether need to start Long-Term?

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

3. Meriwether believed that risk and volatility were what?

4. What did banks and investors want from Long-Term?

5. Who gains from working with hedge funds?

(see the answer key)

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