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

Multiple Choice Questions

1. Reluctant to lose out on what Michael Burry was convinced would be a profitable investment, what did he do with his CDSs to keep his investors from taking their money back in Chapter 8?
(a) Side pocketed them.
(b) Bought them.
(c) Released them.
(d) Sold them.

2. Who was the head of Salomon Brothers' mortgage department in the 1980s and featured in the book Liar's Poker?
(a) Lewis Ranieri.
(b) Michael Lewis.
(c) Andrew Jackson.
(d) James Lewis.

3. When was John Gutfreund born?
(a) 1929.
(b) 1953.
(c) 1945.
(d) 1938.

4. In Chapter 7, Eisman came to the conclusion that none of the banks dealing in CDSs and CDOs really appreciated the disaster awaiting them because of what?
(a) The lack of ratings the rating companies were giving these CDSs and CDOs.
(b) The high ratings the rating companies were giving these CDSs and CDOs.
(c) The low ratings the rating companies were giving these CDSs and CDOs.
(d) The average ratings the rating companies were giving these CDSs and CDOs.

5. When was Eisman invited to make a speech to support a quickly flagging Wall Street firm in Chapter 10?
(a) October 22, 2007.
(b) March 14, 2008.
(c) June 3, 2007.
(d) January 5, 2008.

6. Cornwall Capital Management ended with more than how much in CDOs in Chapter 7?
(a) $150 million.
(b) $600 million.
(c) $450 million.
(d) $200 million.

7. Who still felt as though he was not receiving the recognition he deserved for his foresight and lucrative investing and decided to quit as a money manager in Chapter 10?
(a) James Eastman.
(b) Michael Burry.
(c) Charlie Ledley.
(d) Michael Lewis.

8. In Chapter 8, Michael Burry found that his reports to his investors were appearing more and more bleak because of his heavy investment in what?
(a) Overprime mortgage CDSs.
(b) Subprime mortgage CDSs.
(c) Subprime mortgage CDOs.
(d) Overprime mortgage CDOs.

9. The first night of the conference in Chapter 6, Steve Eisman was seated next to a man named what?
(a) Charlie Ledley.
(b) Euguene Xu.
(c) Mike Burry.
(d) Wing Chau.

10. When did Scion Capital open business?
(a) 1999.
(b) 1997.
(c) 1995.
(d) 2000.

11. At the conference in Chapter 6, Charlie Ledley found himself being courted by what company and chiefly ignored by most of the other conference attendees?
(a) Morgan Stanley.
(b) AIG FP.
(c) Bear Stearns.
(d) Standard & Poor's.

12. At what university did Michael Burry study?
(a) Harvard University School of Law.
(b) Yale University School of Medicine.
(c) Vanderbilt University School of Medicine.
(d) Princeton University School of Law.

13. The mortgage boom and bust which is central in The Big Short: Inside the Doomsday Machine took place between what years?
(a) 1999-2004.
(b) 2002-2006.
(c) 2001-2007.
(d) 2005-2008.

14. Morgan Stanley lost more than how much on Hubler's CDO deals, as described in Chapter 9?
(a) $9 billion.
(b) $4 billion.
(c) $5 billion.
(d) $3 billion.

15. What is the title of Chapter 8?
(a) Wall Street.
(b) The Long Quiet.
(c) Two Men in a Boat.
(d) Bonds and CEOs.

Short Answer Questions

1. The top bond traders of the 1980s called themselves by what nickname, becoming inspiration for the books The Bonfire of the Vanities and Liar's Poker?

2. What nickname was John Gutfreund given by Business Week in 1985?

3. For what quickly flagging Wall Street firm was Eisman invited to make a speech in Chapter 10?

4. How much did Morgan Stanley settle with Deutsche Bank on the CDOs purchased from Hubler in Chapter 9?

5. What is the title of Chapter 9?

(see the answer keys)

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