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The Big Short 2
Test Description: POLS Presentation on The Big Short, chapter 1, A Secret Origin Story
Instructions: Answer all questions to get your test result.
1) Who was hired by Eisman to help pinpoint the “unpleasant odor” wafting from the subprime mortgage industry?
A
John Paulson
B
Vincent Daniel
C
Meredith Whitney
D
George Bush
2) What is the term for the recurring problem with the subprime loans that went conveniently overlooked by investment companies?
A
Inefficiency
B
Accumulation
C
Delinquency
D
Ammunition
3) Which of the following is NOT a true statement concerning the subprime mortgage industry?
A
It booked mortgages as profit before they were repaid
B
It employed goofy accounting
C
It was looking out for the needs of poor Americans
D
It resembled a ponzi scheme
4) What SPECIFICALLY made Household Finance Corporation grow bigger than ever in the early 2000\'s?
A
The second mortgage
B
The economic boom of the 90's
C
The internet bust
D
International hedge funds
5) What did Eisman recall as the defining moment in his life?
A
The death of his son
B
The death of his father
C
The dissolving of the Household Finance Corporation
D
The end of his employment at Salomon Brothers
6) By asking repetitive, seemingly infantile questions, what did Eisman reveal about the majority of Wall Street?
A
They did not actually know what they were talking about a lot of times.
B
They had extensive knowledge of the situation and did not care about the people affected.
C
They had an extensive knowledge of the situation and plans for rectifying it.
D
They were all aliens.
7) What did big-name Wall Street banks use to disguise their role in subprime lending from the general American audience?
A
Shelves
B
Sieves
C
Shields
D
Slacks
8) What relationship did subprime mortgages create between the bond world and the equity world?
A
bond>equity
B
equity=bond
C
equity>bond
D
They had no effect.
9) What was the Golden Rule according to Eisman?
A
God, Gold and Glory.
B
Do unto others as you would have them do unto you.
C
The people who have the gold make the rules.
D
Never lend to people who dont have gold.
10) For whom did the subprime mortgage market determine the financial future?
A
Homeowners
B
Stock traders
C
Everyone
D
Bond traders
*select an answer for all questions
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