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

2. What online database is maintained by the SEC from which investors can access information filed with the agency?
(a) ROBB.
(b) EDGAR.
(c) MABEL.
(d) GEORGE.

3. On what date does the author write the face of Wall Street changed in Chapter 10?
(a) August 4, 2007.
(b) September 18, 2008.
(c) October 31, 2007.
(d) June 3, 2006.

4. 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) Sold them.
(b) Bought them.
(c) Side pocketed them.
(d) Released them.

5. Who asked Howie Hubler for money owed Deutsche Bank on the CDOs purchased from Hubler in Chapter 9?
(a) James Wilson.
(b) John Mack.
(c) Bernie Madoff.
(d) Greg Lippmann.

Short Answer Questions

1. In Chapter 9, Lippmann gave Hubler several chances to back out of the deal at a loss, but Hubler continuously refused until finally settling with Deutsche Bank for more than how much?

2. Where did Michael Lewis receive a BA in Art History?

3. 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?

4. Where was Ben Hockett on vacation when he hit the internet and quickly began selling the CDOs in Chapter 9?

5. After the conference in Chapters 6 and 7, who began buying millions of CDOs, anxious to buy as many as they could before it was too late?

Short Essay Questions

1. For how much did Morgan Stanley settle on the CDOs in Chapter 9?

2. What eventually led to Morgan Stanley questioning the actions of Howie Hubler?

3. What did Charlie Ledley and Michael Burry do in the aftermath of the market disaster in Chapter 10?

4. What actions from the 1980s does the author describe as leading up to the mortgage crisis in the Epilogue?

5. What is a CDS?

6. What information did Steve Eisman discover about the rating companies in Chapter 7?

7. Who attended the conference described in Chapter 6? Where was it held?

8. What did Morgan Stanley offer Howie Hubler in Chapter 9?

9. What would have caused most of the Wall Street banks to fail, according to the author in Chapter 10?

10. Why did Steve Eisman buy CDOs from Lippmann in Chapter 7?

(see the answer keys)

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