Financial Crisis of 2007-08 Quiz Quiz Questions

1. The financial crisis of 2007-08 originated in the following country.

A United States B Russia C Greece D England

2. This economist was the head of the Federal Reserve Bank of the United States during the financial crisis of 2007-08.

A Larry Summers B Alan Greenspan C Ben Bernanke D Janet Yellen

3. In August 2007, this bank signaled the beginning of the financial crisis of 2007-08 by blocking withdrawals from three hedge funds citing “a complete evaporation of liquidity.”

A Bank of America B JP Morgan Chase C BNP Paribas D Wells Fargo

4. The fourth biggest U.S. investment bank that collapsed during the financial crisis of 2007-08 and filed the largest bankruptcy in U.S. history was:

A Morgan Stanley B Lehman Brothers C Bank of America D Arthur Anderson

5. The global insurance company that was effectively bailed out by U.S. taxpayers’ money during the financial crisis of 2007-08 was:

A State Farm Insurance B Progressive C AIG D Geico

6. The index that measures home prices in the U.S. and that reached a historic peak right before the financial crisis of 2007-08 is called:

A The Case-Shiller index B The Herfindahl-Hirschman index C The Lerner index D The Consumer Price index

7. During the financial crisis of 2007-08, which financial instruments commonly came to be called “Toxic Assets”?

A Mortgage-Backed Securities B Government Bonds C Treasury Bills D S&P Stocks

8. The period of economic downturn that ensued after the financial crisis of 2007-08 and affected many countries world-wide is called:

A The Great Collapse B The Great Recession C Black Friday D The Great Depression

9. The Federal Reserve chairman who admitted that the Fed under-regulated the financial markets in the 1990s (which resulted in a housing bubble that later burst and led to the financial crisis) was:

A Stanley Fisher B Alan Greenspan C Alan Blinder D Ben Bernanke