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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 6: The Trillion-dollar Band-Aid - Health Care Refor.

Multiple Choice Questions

1. According to the author, what philosophy translates to "My facts are facts and your facts are not facts"?
(a) "Consumerism."
(b) "Republican realism."
(c) "Capitalism."
(d) "Objective reality."

2. What do SWFs refer to?
(a) Static wealth funds.
(b) Solidified wealth funds.
(c) Sovereign wealth funds.
(d) Static war funds.

3. What refers to a numerical expression based on a statistical analysis of a person's credit files that represents the creditworthiness of that person?
(a) Credit score.
(b) Stock portfolio.
(c) Credit annuity.
(d) Stock score.

4. In 2002, less than how much worth of subprime loans was approved?
(a) $300 million.
(b) $200 billion.
(c) $1 billion.
(d) $100 billion.

5. What refers to the part of the capital markets that deals with the issuance of new securities?
(a) Primary market.
(b) Derivatives market.
(c) Secondary market.
(d) Speculative market.

Short Answer Questions

1. Who had to withdraw from a summer calculus class in San Francisco because he couldn't afford the gas for the commute?

2. What United States Representative said that Obama's health care initiative was a "backroom deal that had nothing to do with the public perception"?

3. In Chapter 3, what process in which loans are split up and sold off to secondary investors as securities was used by banks?

4. Eljon Williams and his wife were shocked when their mortgage went up over how much from one month to the next in Chapter 3?

5. What involves an exchange of the defaulted loan instrument (and with it the right to recover the default loan at some later time) for immediate money - usually the face value of the loan?

(see the answer key)

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