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

Connie Bruck
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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. Where was much of the money coming from for takeovers in the 1980s?
(a) fake junk bonds imitating Milken's bonds
(b) big blind pools that Milken would raise for his customers
(c) the break up and sale of raided company divisions
(d) foreign investors with extra capital

2. Who was behind the success of both First Executive and Columbia Savings?
(a) Thomas Spiegle
(b) Lowell Milken
(c) Mike Milken
(d) Fred Carr

3. When inflation raised the value of assets but not stock prices, what was the result?
(a) People stopped buying stocks and company values soared.
(b) It was cheaper to buy a company than to start out from scratch.
(c) People began selling their stocks to start new businesses.
(d) Junk bonds became less useful in building wealth.

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

5. 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.

Short Answer Questions

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

2. What was one thing Lowell Milken did for the company?

3. What two large companies did Drexel underwrite bond issues for in a ten-day period?

4. Why did Posner back out of the National Can deal?

5. What were Milken's results the first year in his new position at Drexel Burnham?

Short Essay Questions

1. How did Milken begin building his fortune?

2. How did HITS come about and what was it?

3. What were some of Carl Icahn's problems after his successful TWA takeover?

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

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

6. How did Fred Joseph begin his goal of making Drexel a top notch firm in fifteen years?

7. Tell something about Fred Joseph and how he became known at Drexel.

8. What were some complications of the move to Century city for Drexel?

9. How did Milken help Drexel on his drive from New York to California?

10. Give examples of people other than his staff who become quite wealthy following Milken's direction.

(see the answer keys)

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