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. What was a major factor in the failure of Beverly Hills Savings?
(a) too many hostile takeover attempts
(b) large withdrawals by depositors
(c) rumors that Milken was taking it over
(d) huge losses in junk purchased from Drexel

2. Who are two examples of Milken clients who became quite wealthy?
(a) Fred Carr and Thomas Spiegle
(b) Marty Ingles and Shirley Jones
(c) Lawrence Welk and Ray Milland
(d) James Brown and Kevin Bacon

3. What is it called when a firm decides to commit its own capital toward a takeover?
(a) bridge financing
(b) marginal financing
(c) piggybacking
(d) highway financing

4. Why did Posner back out of the National Can deal?
(a) One of his companies went bankrupt.
(b) Drexel worked against him.
(c) He decided on another acquisition.
(d) He was diagnosed with cancer.

5. Why did Milken take the bus from New Jersey to Wall Street?
(a) to avoid talking to Wall Street people
(b) because he liked the people on the bus
(c) because he could not afford the train
(d) because he did not drive a car

Short Answer Questions

1. What do raiders look for in companies to take over?

2. What did Joseph need to achieve his goal of making Drexel a world-class institution?

3. What benefit did Milken arrange for his low grade investment group for the next 14 years?

4. What did the Federal Home Loan Bank Board discover about what Spiegle at Columbia Savings and Loan was doing?

5. What was the Wall Street attitude toward low grade bonds at the time Milken started trading in them?

Short Essay Questions

1. Explain how Milken became nervous over large bond deals.

2. Describe the National Can Company takeover.

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

4. Who was Carl Icahn and how did he get into the hostile takeover business?

5. Explain Milken's relationship with his staff.

6. Explain why Milken wanted to move his operation to Los Angeles.

7. Discuss Carl Icahn's expertise in proxy fights.

8. Describe how Michael Milken is introduced in the book.

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

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

(see the answer keys)

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