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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. Bob Dall and Stephen Joseph create the first _____ of mortgage securities.
(a) Legislative block.
(b) Public offering.
(c) Private issue.
(d) Successful recall.

2. From what school does Leonard Bublick, the trainee who gets hit in the head with a paper wad thrown by the former U.S. Navy fighter pilot, get his M.B.A.?
(a) Yale.
(b) Oberlin.
(c) University of Iowa.
(d) University of Indiana.

3. The Japanese in the training program are considered _____.
(a) A protected species.
(b) A ruthless cult.
(c) Highly alert.
(d) Expendable.

4. The front-row people in the Salomon Brothers training program are generally from which business school?
(a) Harvard.
(b) Yale.
(c) Wharton.
(d) Princeton.

5. In 1986, forty percent of Yale's graduating class apply to which bank?
(a) Shearson.
(b) First Boston.
(c) Lehman Brothers.
(d) Citibank.

Short Answer Questions

1. In the bond market, unlike the stock market, ______ are not openly stated.

2. Though he was rejected by Harvard, Gutfreund eventually graduated from ______.

3. Gutfreund's wife, Susan, is spending fifteen million dollars decorating his ______ apartment.

4. What is photocopied 126 times from The New York Times and distributed among the trainees each morning?

5. Which subway line drops off hoards of people to their Wall Street jobs?

Short Essay Questions

1. How does the author compare economics to art history?

2. Why does the author pounce on the opportunity to work for Salomon Brothers like a loose ball?

3. What happens when the author has breakfast with Leo Corbett?

4. Why is the treasury trader king at Salomon Brothers?

5. Describe the home-buying imbalance of the Rust Belt and the Sun Belt.

6. How does a chaired professor at the London School of Economics react when the author tells him the amount he has been offered to work at Salomon Brothers?

7. What is the difference between managing and trading?

8. What entices many people to apply to Salomon Brothers and binds them to the firm?

9. What is meant by "no tears"?

10. What does Lewis see as being the first inalienable right of the Salomon Brothers trainee?

(see the answer keys)

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