The Predators' Ball Test | Mid-Book Test - Easy

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

Multiple Choice Questions

1. Why did Milken's people say they performed so well?
(a) because he would accept nothing less
(b) because they had to get up so early
(c) because they learned from the King
(d) because they were maing so much money

2. Where did most of the money come from when Icahn actually acquired ACF, a railroad car leasing company?
(a) Ichan got the money from his uncle.
(b) Much of the purchase price came from the sale of some of the company's divisions.
(c) Milken financed much of the price.
(d) Ichan sold all of his Milken junk bonds.

3. What is RICO?
(a) Racketeer Influenced Corrupt Organizations Act
(b) Mexican Stock Exchange
(c) Reporting Interest In Company
(d) The Bank of Brazil

4. What was a cause of the market crash of 1974?
(a) stock prices soaring
(b) a slow down of foreign business
(c) economic inflation in Asia
(d) low prices and a lot of bargains among companies

5. What government regulation made it easier for multiple mergers in the 1980s?
(a) deregulation of banks
(b) gauranteed loans for mergers
(c) cuts in the minimum wage
(d) a relaxation of antitrust restrictions

6. Why did Drexel remain a privately-held company?
(a) Milken could then retain his need for secrecy.
(b) Joseph refused to allow it to happen.
(c) They did not want outsiders to get in on their business.
(d) It was too much of a temptation for a hostile takeover.

7. Who informed the SEC that he was attempting to gain control of Triagle Acquisition Corporation?
(a) Mike Milken
(b) Oscar Wyatt
(c) Gerald Guterman
(d) Nelson Peltz

8. What influenced Milken to become interested in low grade bond portfolios?
(a) the Hickman study, an analysis of bond yields
(b) a course he took at Wharton
(c) an unexpected profit from his own low grade bonds
(d) the Morgan report on bond yields

9. Where did Milken and his wife buy a house?
(a) Santa Monica
(b) Beverley Hills
(c) Encino
(d) San Clemente

10. Who dominated the market in junk bond funds from 1978 on?
(a) Morgan Investments
(b) Drexel
(c) Fidelity
(d) Lehman Brothers

11. Why did Drexel Burnham Lambert agree to let Milken move his operation at a cost of millions of dollars?
(a) Milken was then major stock holder in the company.
(b) Milken threatened to leave.
(c) Milken had some inside information he could use in L. A.
(d) Milken was responsible for almost all of the firm's profits.

12. Keeping New York office hours, at what time did they begin work in L. A.?
(a) 6:30 a.m.
(b) 4:30 a.m.
(c) 10:00 a.m.
(d) 7:00 a.m.

13. What was the purpose of Fred Joseph's meeting at the Barbizon Plaza in New York?
(a) gathering inside information to take back to Los Angeles
(b) pirating talent from some of the biggest firms on Wall Street
(c) to undermine Milken and take over control of the Department
(d) consideration of all ideas, even the far-out and the flamboyant, instead of the conservative

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

15. What was Drexel's only real competition by the 1980s?
(a) Merrill Lynch
(b) Morgan Stanley
(c) Barnes and Noble
(d) Lehman Brothers

Short Answer Questions

1. Where was much of the money coming from for takeovers in the 1980s?

2. What was Ichan able to do after he got a seat on the board of Tappan?

3. What was Milken's biggest contribution to Drexel in the early years?

4. To troubled businesses, what was Drexel's unregistered exchange offer?

5. What was a major factor in the failure of Beverly Hills Savings?

(see the answer keys)

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