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

Multiple Choice Questions

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

2. How much money did Meriwether need to start Long-Term?
(a) $50 million.
(b) $100,000.
(c) $2.5 billion.
(d) $1 billion.

3. What was the result for some banks due to their involvement in the derivatives market?
(a) They went bankrupt.
(b) They made billions.
(c) They were nationally recognized.
(d) They were prosecuted.

4. When Russia began to default on its loans, what did people start doing with their high risk bonds?
(a) Selling.
(b) Holding.
(c) Buying.
(d) Trading.

5. In 1996, how much did Long-Term have in assets?
(a) $500 million.
(b) $120 million.
(c) $140 billion.
(d) $1 billion.

Short Answer Questions

1. By the end of 1996, what was the status of the credit financing Long-Term wanted?

2. In 1996, who did Long-Term first approach to handle their credit?

3. What company was Kapor the founder of?

4. When Meriwether increased his position in Treasury futures, what did he expect the market to do?

5. How many banks stepped forward to help bail out Long-Term?

(see the answer key)

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