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

Multiple Choice Questions

1. How long did Long-Term expect their investors to commit?
(a) 3 months.
(b) 6 months.
(c) 1 year.
(d) 3 years.

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

3. What resource close to Long-Term began to experience financial difficulties following the financial problems in Russia?
(a) Latin America.
(b) Italy.
(c) Long-Term's management company.
(d) Long-Term's audit company.

4. What year did Meriwether hire Myron Scholes?
(a) 1994.
(b) 1996.
(c) 1993.
(d) 1995.

5. In August 1998, how far down was Long-Term for the month?
(a) 10%.
(b) 60%.
(c) 25%.
(d) 44%.

Short Answer Questions

1. On what date did Russia declare a debt moratorium?

2. What level of risk did Long-Term offer?

3. How much money did Long-Term lose on Wall Street?

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

5. How much money did Rosenfeld's business bring in?

(see the answer key)

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