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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 2-3.

Multiple Choice Questions

1. What word in finance refers to the act of making loans to people who may have difficulty maintaining the repayment schedule?
(a) Derivative lending
(b) Subprime lending
(c) Short-selling
(d) Naked short-selling

2. The assignment of Jamie Dimon and a dozen of his rival CEOs at the emergency meeting at the Federal Reserve Bank of New York was to come up with a plan to save what company, according to the author in the Prologue?
(a) Merrill Lynch
(b) Berkshire Hathaway
(c) JP Morgan
(d) Lehman Brothers

3. According to the author in Chapter 3, Bob Steel knew he would face scrutiny from which U.S. senator who opposed government intervention in the markets?
(a) Senator Lisa Murkowski
(b) Senator Jay Rockefeller
(c) Senator Jim Bunning
(d) Senator Daniel Akaka

4. Dick Fuld was the CEO of what global financial services firm in March, 2008?
(a) Wells Fargo
(b) Greenlight Capital
(c) Lehman Brothers
(d) JP Morgan

5. On what morning does the author describe Jamie Dimon awakening after an emergency meeting at the Federal Reserve Bank of New York with a dozen of his rival Wall Street CEOs in the beginning of the Prologue?
(a) January 5, 2010
(b) April 19, 2007
(c) June 2, 2009
(d) September 13, 2008

Short Answer Questions

1. When was Warren Buffett born?

2. By what nickname is Warren Buffett known in the financial world?

3. Timothy Geithner worked for the Treasury Department and what organization prior to his appointment as President of the Federal Reserve Bank of New York?

4. According to the author in Chapter 1, Henry Paulson called and informed Dick Fuld that Bear Stearns collapsed and that the U.S. Treasury had taken the step of backing how much in Bear Stearns assets to restore confidence in the market?

5. What refers to a security interest in real property held by a lender as a security for a debt?

(see the answer key)

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