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

Multiple Choice Questions

1. What did Meriwether do with his staff?
(a) Dine.
(b) All of these.
(c) Play golf.
(d) Travel.

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

3. What did banks and investors want from Long-Term?
(a) It to shut down.
(b) Client referrals.
(c) Regulation.
(d) To be involved.

4. What big mistake did Long-Term make that prevented them from getting cash when they needed it?
(a) Forcing out investors.
(b) Consulting with Warren Buffet.
(c) Firing Meriwether.
(d) Inviting in too many investors.

5. What did Long-Term expect foreign banks to invest?
(a) $10 million.
(b) Only individuals could invest.
(c) $1 million.
(d) $100 million.

Short Answer Questions

1. In 1996, Long-Term was two and a half times larger than what company?

2. What company did Meriwether launch following Long-Term?

3. What was the leverage of Long-Term, following its meeting with the Fed?

4. What notable company went bankrupt in the 1970's?

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

(see the answer key)

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