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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. How many people immigrate from the Old to the New World to embed the dream into an image of America far stronger than the success of a few like the Guggenheims and Vanderbilts?
(a) Tens of millions.
(b) Hundreds.
(c) Tens of billions.
(d) Tens of thousands.

2. Railroads need huge amounts of what to construct track and more as they expand?
(a) Capital.
(b) Technological understanding.
(c) Equipment.
(d) Trust.

3. Carnegie's first installment on his one-eighth interest in Woodruff is $217.50 borrowed from the bank. The balance is paid by dividends in the venture's ________ year.
(a) Third.
(b) First.
(c) Second.
(d) Fourth.

4. When his father dies in 1855, Andrew calls him what?
(a) An embarrassment.
(b) A man of the world.
(c) A man not of the world.
(d) A loser.

5. Carnegie buys his stock in Pullman selling shares in Central to other stockholders by not using what?
(a) His connections.
(b) Manipulation.
(c) The money of others.
(d) Any of his own money.

6. In ___________, Andrew is offered a job by Tom Scott, western division superintendent of the Pennsylvania Railroad, to be his secretary and personal telegrapher.
(a) 1852.
(b) 1868.
(c) 1858.
(d) 1862.

7. In 1856, Scott advises him to buy what company as his first stock investment?
(a) Anthony Express Company.
(b) Amos Express Company.
(c) Adams Express Company.
(d) Aaron Express Company.

8. Why does Pullman gives Carnegie enough Pennsylvania stock to collateralize a $600,000 loan?
(a) He is ignorant of this poor decision.
(b) He needs money.
(c) He trusts Carnegie.
(d) He believes it is one of his best ideas.

9. Carnegie presents the bonds to the Morgan investment banking house in London in March, 1869, where he sells them to Morgan at what percent?
(a) 85.
(b) 75.
(c) 65.
(d) 55.

10. What demand adequate cash flow and net income for operating expenses and a dividend sufficient to maintain and attract capital to grow?
(a) Sales skills.
(b) Organizational skills.
(c) Railroad technology skills.
(d) Railroad management skills.

11. Coleman wants to raise the price of oil by doing what?
(a) Raising the cost of shipping.
(b) Hoarding supply.
(c) Raising his own salary.
(d) Raising his workers' salaries.

12. Carnegie rises from bobbin boy at __________ per week in 1850 to railroad superintendent at $2,400 per year in 1865.
(a) $1.20.
(b) $120.00
(c) $0.12.
(d) $12.00.

13. A typical pattern in the ____________ century is that a community builds up around a few pioneers who leave their homeland and then encourage friends and relatives to join them.
(a) Sixteenth.
(b) Seventeenth.
(c) Nineteenth.
(d) Eighteenth.

14. Although Andrew dislikes the tedium, smells and hours, he works in another textile mill until what?
(a) He gets injured.
(b) He gets an office opportunity in accounting.
(c) He gets a college scholarship.
(d) He gets promoted to a management position.

15. What does Andrew dislike about the oil business that seems beyond control of management until the 1880s and Rockefeller?
(a) The destructive properties of oil.
(b) The instability of the economy.
(c) The fluctuation of price.
(d) The smell, messiness and waste.

Short Answer Questions

1. The triumvirate agrees to sell at once for what reason?

2. Scott leaves Carnegie in charge when he does what?

3. In _________, the transcontinental Union Pacific seeks bids from sleeping car companies for its expansion.

4. Carnegie promotes expanding with other Pennsylvania-controlled franchises through Scott and assures construction in his contracting business by bartering Pacific stock for construction costs with ___________ exchange rates.

5. Carnegie proposes they cooperate rather than bid against each other and suggests what be the joint venture?

(see the answer keys)

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