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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. Liar's Poker has a lot in common with what aspect of Wall Street business?
(a) Bond trading.
(b) Stock trading.
(c) Currency trading.
(d) Commodities trading.

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

3. According to the author, the reason Wall Street has initially ignored his resume is that all the representatives from large firms say that he lacks ______.
(a) Commercial instincts.
(b) A wealthy background.
(c) Chutzpah.
(d) Motivation.

4. According to the book, investment banking candidates are expected to be _______.
(a) Brash.
(b) Culturally literate.
(c) Open-minded.
(d) Intellectuals.

5. What does Lewis see as John Gutfreund's "calling card" as he makes his rounds in the trading floor?
(a) Coffee grounds.
(b) A hand-written note.
(c) Cigar ash.
(d) A slap on the back.

Short Answer Questions

1. A _____ of personal popularity is how Lewis thinks trainees are chosen by managers.

2. Bob Dall and Stephen Joseph create the first _____ of mortgage securities.

3. In the midst of Liar's Poker, the good player's mind spins with ________.

4. Lewis states that analysts don't analyze anything; they are just _____ to corporate financiers.

5. Who is chairman of the Federal Reserve in 1979?

Short Essay Questions

1. 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?

2. Why are corporate financiers considered wimps by traders?

3. How does the author manage to get a connection into Salomon Brothers?

4. What do the trainees have planned for the morning Gutfreund is supposed to speak to the class?

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

6. What is the "3-6-3 Club"?

7. What is the difference between managing and trading?

8. How does the code of Liar's Poker affect a trader?

9. What is meant by "no tears"?

10. The author uses the analogy of two benevolent hands that "stuff the turkey" that Wall Street firms eat the stuffing from. What does he mean by this?

(see the answer keys)

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