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

Multiple Choice Questions

1. What did the incident on August 21 cost Long-Term?
(a) $2 billion.
(b) $150 million.
(c) $1 billion.
(d) $200 million.

2. What financial crisis did Long-Term make it through that most of the market didn't?
(a) The Switzerland crisis.
(b) The Mexican crisis.
(c) The Germany crisis.
(d) The U.S. crisis.

3. What did a dealer from J.F. Eckstein & Co. want from Meriwether in 1979?
(a) Real estate tips.
(b) A better financial model.
(c) Empathy.
(d) Help.

4. In August 1998, how far down was Long-Term for the year-to-date?
(a) 35%.
(b) 10%.
(c) 2%.
(d) 52%.

5. In 1996, why was it difficult to continue to find strong profits in arbitrage trades?
(a) It was illegal to perform these trades.
(b) The market was over-saturated.
(c) Long-Term did not have investment capital.
(d) The market did not have enough players.

Short Answer Questions

1. Who typically invested in hedge funds?

2. Where was David W. Mullins working when Meriwether hired him?

3. What did Black and Scholes think price changes were?

4. When Long-Term met with the Fed, it was obvious they did not have enough money to make it through what?

5. What companies were selling bonds for Russia?

(see the answer key)

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