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

Multiple Choice Questions

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

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

3. What was the common belief regarding nuclear powers?
(a) They do not have capital.
(b) They never default.
(c) They always default.
(d) They are not stable.

4. What notable invention changed the face of trading in the 1970's?
(a) The video camera.
(b) The computer.
(c) The scientific calculator.
(d) The cell phone.

5. In 1998, what were many hedge funds selling insurance against?
(a) Rising prices.
(b) Falling prices.
(c) The Latin market.
(d) The U.S. Treasury.

Short Answer Questions

1. What did Black and Scholes use to calculate market change?

2. How much did Long-Term earn in its first year of operation?

3. After the Russian financial crisis, what caused further fluctuations in the market?

4. The purpose of the Federal Reserve System was to promote what?

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

(see the answer key)

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