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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What ubiquitous part of business attire does Massey conspicuously lack?
(a) A pocket hankie.
(b) A gold watch.
(c) Black shoes.
(d) A tie.

2. The author describes England as the land of ________.
(a) Limp paychecks.
(b) Long lines.
(c) Royal watchers.
(d) Haggis.

3. One of the major incentives that legislators create to encourage the borrowing of money is the _____ of mortgage payments.
(a) Investment advantage.
(b) Variability.
(c) Price reduction.
(d) Tax deductibility.

4. According to the author, in order for the home mortgage to become a bond, it has to be _____.
(a) Reversed.
(b) Inflated.
(c) Depersonalized.
(d) Refinanced.

5. With whom has the author received an invitation to dine?
(a) Queen Elizabeth II.
(b) The queen mother.
(c) Lady Diana.
(d) Prince Charles.

6. In 1979, which company specializes in junk bonds?
(a) Drexel Burnham.
(b) Lehman.
(c) Shearson.
(d) Salomon Brothers.

7. Bond prices move _____ to interest rates after 1979.
(a) Unrelated.
(b) Cyclically.
(c) Inversely.
(d) Parallel.

8. There are 287 books about bonds in the New York Public Library and most of them are about _____.
(a) Family ties.
(b) A British spy.
(c) Junk Bonds.
(d) Chemistry.

9. What sort of important dinner is the author invited to attend?
(a) A fund raiser.
(b) A celebrity dinner.
(c) A company dinner for Salomon Brothers.
(d) A head-hunting dinner.

10. What is the name of the trainee who was a former U.S. Navy fighter pilot?
(a) Joe Friedman.
(b) Mike Lewis.
(c) Max Johnson.
(d) Susan James.

11. What is the nickname for the Government National Mortgage Association?
(a) Ginnie Mae.
(b) Fanny Mae.
(c) Johnny Mac.
(d) Freddie Mac.

12. Though he was rejected by Harvard, Gutfreund eventually graduated from ______.
(a) Princeton.
(b) Oberlin.
(c) Oxford.
(d) Yale.

13. What is the name of an interview technique designed to test an applicant's nerve?
(a) Direct humiliation.
(b) Instant recall command.
(c) The silent treatment.
(d) The yell test.

14. According to the author, what is Gutfreund's only noticeable affectation when he comes to speak to the trainees?
(a) A demure concern.
(b) An exaggerated posture.
(c) A German accent.
(d) A statesmanlike calmness.

15. By definition, an analyst's job lasts how long?
(a) A lifetime.
(b) Six months.
(c) Two years.
(d) Twenty years.

Short Answer Questions

1. The author characterizes the people initially involved in home mortgages as ______.

2. What sort of dogs are the favorite of the British royal family?

3. For the author, the stigma of getting a job through connections is worse than the stigma of ______.

4. What floor at Salomon brothers is said to have low ceilings, no windows, and the charm of an engine room?

5. According to Lewis, the better an analyst gets at his job, the nearer he seems to ______.

(see the answer keys)

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