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This quiz consists of 5 multiple choice and 5 short answer questions through On the Run.

Multiple Choice Questions

1. Where was the Long-Term Capital Portfolio stored?
(a) Germany.
(b) Cayman Islands.
(c) Switzerland.
(d) Bermuda.

2. Who typically invested in hedge funds?
(a) The general population.
(b) The Federal Reserve.
(c) A club of exclusive investors.
(d) Foreign banks.

3. How much of the face value of a bond do buyers typically pay?
(a) 15%.
(b) 25%.
(c) 10%.
(d) 1%.

4. What type of government paper was bought in Italy?
(a) Floating rate.
(b) Deeds to monuments.
(c) Fluctuating rate.
(d) Italian money.

5. Who ran the London office for Long-Term?
(a) Haghani.
(b) Meriwether.
(c) Buffet.
(d) Mullins.

Short Answer Questions

1. What group did Meriwether found in 1977?

2. What was the end result of Meriwether's Treasury bill deal?

3. What year did Meriwether hire Myron Scholes?

4. In order for Meriwether's Treasury futures investment to work, what did he need market prices to do?

5. What did Long-Term expect foreign banks to invest?

(see the answer key)

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