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This quiz consists of 5 multiple choice and 5 short answer questions through The Fall.

Multiple Choice Questions

1. In 1994, what market did Long-Term begin to express an interest in?
(a) Chicago.
(b) Chinese.
(c) Local.
(d) International.

2. What was practically impossible to determine about Long-Term?
(a) Actual fund assets.
(b) Why it was doing so well.
(c) Who was in charge.
(d) Where it was located.

3. How much did banks and investors make in conjunction with Long-Term?
(a) 1-200 million.
(b) 50 million.
(c) Several hundred thousand.
(d) 1 million.

4. What was the credit limit on hedge funds?
(a) $100 million.
(b) There wasn't one.
(c) $1 billion.
(d) $50 million.

5. What is the method of paying a percentage of a bond called?
(a) A bond fee.
(b) A haircut.
(c) A percentage price.
(d) A trim.

Short Answer Questions

1. In the mid-1990's, what was the ratio of leverage on Wall Street?

2. When the financial market in Russia collapsed, what were many in the market attempting to do?

3. In 1996, what was the second bank Long-Term approached about financing their credit?

4. What was the internal climate at Long-Term in 1998?

5. How much did Long-Term plan to take from its profits?

(see the answer key)

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