Take the 2010 HFAT (Hiring and Firing Aptitude Test)

by Derek Loosvelt | December 08, 2010

To see how well you've been keeping up with the top hiring and firing (as well as resignation, deregistration and sex-discrimination suit) stories in finance this year, take the inaugural HFAT below.

Remember, it's not how you play the game, it's how much you pull down at the end of the year. Good luck!

1. Daniel Akerson, the new CEO of General Motors, previously worked for which of the following private equity firms?
A. Schwarzman & Schwarzman
B. The Carlyle Group
C. Forstmann Little
D. Both b and c

2. Nigel Higgins' appointment as the new CEO of Rothschild was notable for which of the following reasons?
A. She's the first woman to hold the position
B. He's the first man who was formerly a woman to hold the position
C. He's the first man without the surname Rothschild to hold the position
D. All of the above

3. True or False: Deloitte announced that it would hire 50,000 employees per year for the next five years?

4. The acronym BRIC most commonly refers to which of the following?
A. Barack, Rahm, Icahn and Clinton
B. Blackjack, Roulette, Indiana Hold 'em and Craps
C. Biggy, Rakim, Ice Cube and Coolio
D. Brazil, Russia, India and China

5. When Austin Beutner, Evercore founder and former Blackstone partner, was named deputy mayor of economic development for Los Angeles (in order to bring down the city's 13.4 percent unemployment figure), he agreed to accept which of the following as his annual salary?
A. $1
B. $100
C. $100,000
D. $1,000,000

6. Who coined the phrase "Fab Fab"?
A. Lloyd Blankein (Goldman Sachs CEO)
B. Carl Levin (Democratic Senator from Michigan)
C. Matt Taibbi (author/Rolling Stone writer)
D. Fabrice "Fab Fab" Tourre (former Goldman Sachs VP)

7. Mary Meeker, an equity analyst who left Morgan Stanley to join venture capital firm Kleiner Perkins Caufield & Byers, earned which nickname for her tech-company-coverage prowess during the Internet boom and bust?
A. Queen of the Webosphere
B. Queen of the Net
C. Contrary Mary
D. Bada$$ Stock Peeker Meeker

8. Meredith Whitney, the renown Wall Street analyst and head of her eponymous advisory firm, predicted that during the fourth quarter 2010 and first quarter 2011, there would be how many additional financial services layoffs in the U.S.?
A. 20,000
B. 40,000
C. 80,000
D. 160,000

9. Todd Combs, whom Warren Buffet named as the man most likely to succeed him as CEO of Berkshire Hathaway, is a graduate of which college?
A. Princeton
B. Duke
C. Florida State
D. Ball State

10. Which of the following banks was the subject of a sex-discrimation suit in 2010?
A. Goldman Sachs
B. JPMorgan Chase
C. Citigroup
D. All of the above

11. Prior to serving as a partner at private equity firm KKR, Ken Mehlman, who outed himself as a homosexual in The Atlantic, held which of the following political positions?
A. Secretary of the Interior under President Obama
B. Secretary of Homeland Security under President Obama
C. White House Chief of Staff under Former President Clinton
D. Campaign Manager for Former President George W. Bush

12. True or False: From January 4, 2010 (the first day of NYSE trading this year) through December 8, 2010 (today), Citigroup's share price has risen by 40 percent while Goldman Sachs, JPMorgan Chase, Morgan Stanley, Bank of America, Credit Suisse and Deutshe Bank have all seen their share prices decline, on average, by 14 percent?


Answers
(1) d, (2) c, (3) true, (4) d, (5) a, (6) d, (7) b, (8) c, (9) c, (10) d, (11) d, (12) true

Scoring
10-12: Would you like your seven-figure bonus in cash or stock?
7-9: Go buy the wife and kids something nice, on u$.
4-6: It's clawback time.
0-3: You, my friend, are fired.

Filed Under: Finance


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