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This quiz consists of 5 multiple choice and 5 short answer questions through Part 1: Chapter 3, Transformation.

Multiple Choice Questions

1. What was the address of the new building in L. A.?
(a) Avenue of the Stars in Century City
(b) Rodeo Drive and Wilshire
(c) Sunset and Vine
(d) Hollywood and Vine

2. What was Milken's problem with back office people at Drexel?
(a) He did not work well with Jewish people.
(b) He could not communicate with them.
(c) He was less educated than they were.
(d) He did not understand their work.

3. What was it about Milken that impressed his clients?
(a) his knowledge and memory for details about every bond there was.
(b) his inside information about the junk bond companies
(c) his willingness to bargain when he sold them junk bonds
(d) his connections with politicians and movie stars

4. Where did Milken want to move his bond operation unit in 1978?
(a) Los Alamos
(b) Las Cruces
(c) Los Angeles
(d) Las Vegas

5. What was the Wall Street attitude toward low grade bonds at the time Milken started trading in them?
(a) They were looked down on.
(b) Then were used for scratch paper.
(c) They were unknown to Wall Street.
(d) They were used as charitable donations.

Short Answer Questions

1. Why did Milken take the bus from New Jersey to Wall Street?

2. Why did Drexel Burnham Lambert agree to let Milken move his operation at a cost of millions of dollars?

3. Why did Drexel have to separate from J. P. Morgan?

4. What did Milken offer this market segment?

5. How did Milken and his wife travel to Los Angeles?

(see the answer key)

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