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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. Who are the biggest shoppers for mortgage products?

2. What is the primary aspect of business that always matters most at Salomon Brothers?

3. What is Latin for "buyer beware"?

4. According to the author, investors don't fear losing money as much as they fear _____?

5. To create a CMO, hundreds of millions of dollars in ordinary mortgage bonds are placed in a _____.

Short Essay Questions

1. Despite the upheaval in the mortgage market, what is the initial objection that remains valid as the mortgage market evolves?

2. What characterizes Stu Willicker's leadership style?

3. When is the best time to sell short?

4. What are the two kinds of friction at Salomon Brothers?

5. How is Howie Rubin thought of at Salomon Brothers? Why?

6. Who took the hit for the AT&T bond loss that the author advised Herman on?

7. How does Lewie Ranieri feel about Michael Milken? How does this differ from John Gutfreund's opinion of him?

8. Why does one trader think that Mark Smith is not a Trojan Horse like some of the other traders believe?

9. What is a tombstone and how does it apply to the German interest warrant created by the author and Alexander?

10. Do bosses at Salomon Brothers think badly of employees who are not at their telephones all the time? Why or why not?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Describe the deal that the author and Alexander create on the security they invent involving German interest rates. How does the "the opportunist" offer to help them? How does "the opportunist" try to take credit for their idea? How does the author retaliate and what is the final outcome of the situation?

Essay Topic 2

Compare the personality traits of Lewie Ranieri and Michael Milken. What is the difference between their careers in regards to their respective companies? Compare the amount of money each person made. Why did one make more money than the other?

Essay Topic 3

How and why do the requirements to work at Salomon Brothers evolve? Include the backgrounds of people like Lewie Ranieri versus those of new people like Matty Olivia. How was it handled when somebody quit their job and needed to be replaced in the 1970's versus the hiring process of the mid-1980's?

(see the answer keys)

This section contains 904 words (approx. 4 pages at 300 words per page) View a FREE sample