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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. What became the name of bonds that come into being during highly leveraged takeovers?
(a) Tickertape
(b) Paper trails
(c) Chinese paper
(d) Hot paper

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

3. What was Milken's goal by the early 1970s?
(a) He wanted to own Drexel Burnham.
(b) He wanted low-yield bonds to be its own specialty.
(c) He wanted to move into high-yield bonds.
(d) He wanted to have his own firm.

4. What did Carl Ichan become known as?
(a) a movie mogul
(b) losing proxy fights
(c) a takeover specialist, especially hostile takeovers
(d) going bankrupt

5. What was the advantage FIFI and other like funds offer?
(a) better availability
(b) simplicity of buying
(c) more security than Treasury bonds
(d) a higher yield than Treasury bonds

Short Answer Questions

1. What was the purpose of Fred Joseph's meeting at the Barbizon Plaza in New York?

2. How did Milken decide to help Peltz?

3. For whom did Milken do trading?

4. What is RICO?

5. What was the estate they bought?

Short Essay Questions

1. How did Milken and Joseph create diversification for high-yield funds?

2. Write about the relationship between Milken and Steve Wynn of the gambling industry.

3. Explain why Drexel did not become a publicly-traded company?

4. Explain Milken's relationship with his staff.

5. Tell something about Milken's first house in California.

6. Describe the National Can Company takeover.

7. How did Marshall Field attempt to fight Carl Icahn?

8. What was Milken's greatest contribution to the Drexel firm when he was a part-time employee?

9. What was the subject of the meeting at the Barbizon Plaza in New York held by Fred Joseph?

10. What happened that started the Merger & Acquisition craze in the late 1970s and early 1980s?

(see the answer keys)

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