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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. What refers to a public entity for the trading of company stock and derivatives at an agreed price?

2. In Chapter 3, what fee did companies that would attach a borrower's name to the credit score of another person who was more credit worthy charge?

3. When did Alan Greenspan earn his doctorate in economics?

4. What does NINJA stand for in the mortgage industry?

5. The investment bank division of Deutsche Bank is head-quartered where?

Short Essay Questions

1. Describe the different tranches of subprime loans discussed in Chapter 3. What were the differences between the tranches?

2. Describe Alan Greenspan's childhood and education. Where did Greenspan study economics?

3. What did Eljon Williams learn about the commission involved in his mortgage?

4. What impact did Alan Greenspan have on the Federal Reserve during his years in power?

5. How did Matt Taibbi feel about the Presidential campaign in Chapter 1? What events were unforeseen at this point in history?

6. What actions did Alan Greenspan take which led directly to the housing bubble bust?

7. What is the fundamental belief of objectivism, as described in Chapter 2?

8. How does the Tea Party mislead its followers from the true enemy, according to the author?

9. What process did banks undertake in order to sells risky loans, as described in Chapter 3?

10. Who was Joe Cassano? What authority did he achieve?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Define and analyze commodity index investing, the speculative commodities market and the commodities futures market. When did these terms and processes arise on Wall Street?

Essay Topic 2

Discuss the political career of Richard Nixon and the 1968 Presidential election. What strategies were in place for Nixon?

Essay Topic 3

Discuss the changes in speculative trading during the George W. Bush administration. What did these changes mean for Goldman-Sachs?

(see the answer keys)

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