The 2011 business news quiz
1. Which of these hit an all-time high in 2011?
A. The price of oil
B. Retail sales on the day after Thanksgiving
C. Goldman Sachs’ stock price
D. The U.S. unemployment rate
2. What was French President Nicolas Sarkozy referring to when he said, “What has happened must never happen again”?
A. The arrest of International Monetary Fund chief Dominique Strauss-Kahn
B. Moammar Kadafi-style leadership in Libya
C. The European debt crisis
D. A Kardashian wedding
3. According to Walter Isaacson’s biography of Steve Jobs, the late Apple co-founder accused a rival of copying a product, saying, “I will spend every penny of Apple’s $40 billion in the bank to right this wrong.” What did he believe was unfairly developed?
A. Google’s Android operating system
B. Amazon’s Kindle
C. RIM’s BlackBerry Torch
D. Sony’s PlayStation
4. Responding to a state proposal to force Amazon.com to collect sales taxes on purchases, the online e-commerce giant threatened to:
A. Close its warehouses in California, laying off workers
B. Put a surcharge on purchases by California consumers
C. Mount a campaign to put a referendum on the state ballot
D. Eliminate its free shipping benefit on purchases going to addresses in the state
5. The investigation into phone hacking by reporters focused on which News Corp. newspaper?
A. Times of London
B. News of the World
C. Wall Street Journal
D. New York Post
6. Which of these is NOT an online poker site accused of fraud and money laundering by the U.S. government in April?
A. Absolute Poker
B. Full Tilt Poker
D. Totally Poker
7. Bank of America planned to charge a $5 monthly fee for debit card usage, a strategy it later dropped, because it was losing revenue from what change?
A. Laws that limited the fees it could charge for services and overdrafts.
B. Falling interest rates that cut the revenue it could earn from real estate loans.
C. Customers draining savings accounts to meet expenses during the economic downturn.
D. A severe drop in home loans because of the subprime crisis.
8. What 2011 film earned the most at the U.S. box office?
A. “Harry Potter and the Deathly Hallows — Part 2"
B. “Transformers: Dark of the Moon”
C. “The Hangover Part II”
D. “The Twilight Saga: Breaking Dawn — Part 1"
9. Which of these did not file for bankruptcy in 2011?
A. Los Angeles Dodgers
B. American Airlines
10. In the largest U.S. strike since 2007, 45,000 workers at what company walked off the job for two weeks in August?
11. The last big-name aerospace company based in Southern California moved its headquarters to Virginia in 2011. It was:
C. Northrop Grumman
D. Hughes Aircraft
12. The Energy Department’s investment in what solar energy start-up turned into an embarrassment for the Obama administration when the company closed in August?
B. Sky Electric
C. Solar City
D. Solar Plexus
13. Which of these companies did NOT go public in 2011?
14. Los Angeles police blamed a surge in jewelry store robberies, muggings and burglaries in 2011 on the rising price of what?
15. In September, Netflix announced plans — later canceled — to change the name of its DVDs-by-mail service to what?
D. DVD Express
16. Whom did Rush Limbaugh describe in October as “the perpetually lazy, spoiled rotten, 99% white kids who don’t have anything else to do”?
A. Wall Street bankers
B. Financial journalists
C. Occupy Wall Street participants
D. College students majoring in business
17. About $1.2 billion of client money was found to be missing when what Jon Corzine-led brokerage house filed for bankruptcy?
A. MF Global
B. FM Global
C. AM Global
D. BFF Global
18. The new “virtual assistant” on the iPhone is named what?
19. In December, AT&T called off its attempt to buy what company because of opposition by regulators?
20. In October, Bank of America lost its title as the nation’s biggest bank to which company?
A. Wells Fargo
C. JPMorgan Chase
D. PNC Financial
Answers: 1. B; 2. C; 3. A; 4. C; 5. B; 6. D; 7. A; 8. A; 9. C; 10. B; 11. C; 12. A; 13. D; 14. B; 15. A; 16. C; 17. A; 18. B; 19. D; 20. C
16 to 20 correct: Gold medal
11 to 15: Silver medal
6 to 10: Bronze medal
0 to 5: Scrap metal
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