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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. How did Milken break into the Las Vegas gambling business community?
(a) Milken traveled every weekend to gamble in Las Vegas.
(b) Milken helped Steve Wynn raise the funds he needed to build in Atlantic City.
(c) Milken showed the casino owners how they could double their income.
(d) Milken lowered his commissions to get large casino business.

2. What did Milken offer this market segment?
(a) a new kind of debt instrument
(b) a hope for recovery
(c) a protection from takeover
(d) ten cents on the dollar

3. When he heard on the radio about a change in options to buy stocks, what did Milken do that saved Drexel Burnham Lambert?
(a) cabeled DBL to warn them
(b) stopped in St. Louis and started buying
(c) made calls from pay phones
(d) turned around and went back

4. What was the estate they bought?
(a) the Pickford estate
(b) the Jackie Coogan estate
(c) the Clark Gable-Carole Lombard estate
(d) the Judy Garland estate

5. Why did the new Drexel Burnham company give Milken a $2 million position?
(a) Milken was thinking of leaving.
(b) Milken would be the token Jew.
(c) Milken hid evidence from the SEC.
(d) Milken ochestrated the merger of Drexel and Burnham.

Short Answer Questions

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

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

3. What was it about Milken that impressed his clients?

4. What was the advantage FIFI and other like funds offer?

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

(see the answer key)

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