1. Explain how the US subprime assets and oil prices affected the GCC economies during the global financial crisis 2008-2009. (1 Mark)

2. During 2008-2009 financial crisis, were GCC commercial banks and sovereign wealth funds affected? Explain your answer by discussing the exposure of commercial banks and government to the subprime assets. . (1 Mark)

3. Analyze the role played by banks quality assets in GCC countries during the crisis financial crisis. (2 Marks)

4. Explain how the prudential regulations and the stress tests can thwart the moral hazard problem and excessive leverage in financial institutions. (2 Marks)

5. List and explain the policies that were implemented in the GCC countries to mitigate the effects of the crisis. (2 Marks)

6. To what extent did these policies succeed in alleviating the adverse effects and helping economic recovery? (2 Marks)

7. Draw the main lessons that can be drawn from dealing with the financial crisis in the region and that could be useful in dealing with future similar shocks. (2 Marks)