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

Multiple Choice Questions

1. Andrew goes to night school in bookkeeping at what age?
(a) Sixteen.
(b) Fourteen.
(c) Twenty.
(d) Eighteen.

2. What does Andrew dislike about the oil business that seems beyond control of management until the 1880s and Rockefeller?
(a) The instability of the economy.
(b) The fluctuation of price.
(c) The smell, messiness and waste.
(d) The destructive properties of oil.

3. Carnegie becomes an expert in Pittsburgh's _____________ business.
(a) Financial.
(b) Manufacturing.
(c) Commercial.
(d) Mining.

4. Carnegie is cautious in his investments by limiting them to what?
(a) Firms he knows about that are related to the Pennsylvania Railroad.
(b) Small firms.
(c) Firms his friends suggest.
(d) Firms he has studied for several months.

5. During the nineteenth century American railroads are financed by bonds with over ____ percent of their earnings used to pay bond interest.
(a) 50.
(b) 40.
(c) 30.
(d) 20.

6. Will is unable to catch on to new opportunities and reverts back to weaving and selling his wares on the street, which does what?
(a) Destroys his self-confidence and shames his family.
(b) Brings him more work than when he had his factory job.
(c) Builds his self-confidence and brings pride to his family.
(d) Provides a significant income for his family.

7. Andrew's job delivering telegraph messages puts him in touch with whom?
(a) Many irate individuals.
(b) The President of the United States.
(c) People of varying races.
(d) Business producers on their way to national prominence.

8. Relying on the telegraph lets dispatchers control what, with current information and disciplined workers?
(a) Train repairs.
(b) Train movement.
(c) Customer movement.
(d) Customer interest.

9. Carnegie's career begins on July 15, 1848, when he and his family, parents Will, Margaret and his brother Tom, do what?
(a) Sail from Spain with fellow Spanish passengers.
(b) Sail from France with fellow French passengers.
(c) Sail from Great Britain with fellow Irish passengers.
(d) Sail from Great Britain with fellow Scottish passengers.

10. When dividend payments stop, Carnegie plans a ________ exit to maximize Pacific's price by speculation that lets the triumvirate cash out and leave the remaining Pacific stockholders to drown.
(a) Five-step.
(b) Two-step.
(c) Four-step.
(d) Three-step.

11. Coleman wants to raise the price of oil by doing what?
(a) Raising the cost of shipping.
(b) Hoarding supply.
(c) Raising his workers' salaries.
(d) Raising his own salary.

12. Business transactions at the time take place over what type of communication?
(a) Internet.
(b) Telephone.
(c) Letter.
(d) Telegraphic.

13. Scott leaves Carnegie in charge when he does what?
(a) Has mandatory surgery.
(b) Retires.
(c) Quits.
(d) Takes a ten-day trip.

14. James L. Shaw of the Pacific and Atlantic Telegraph Company offers to buy how many shares of Keystone at three times its value, or $150,000?
(a) One hundred thousand.
(b) One thousand.
(c) Ten thousand.
(d) One million.

15. Carnegie and his triumvirate get a franchise from Pennsylvania Railroad with the benefits of existing poles and franchising from Trenton through to what?
(a) The Missouri state line.
(b) The Indiana state line.
(c) The Illinois state line.
(d) The Ohio state line.

Short Answer Questions

1. Although Andrew dislikes the tedium, smells and hours, he works in another textile mill until what?

2. Erie and Pennsylvania Railroads each have ________ thousand employees trained into a disciplined workforce.

3. Whose pioneering skills in management are codified in his "Book of Rules and the Employees' Timetable?"

4. He forms an informal investing ____________ with Thomson and Scott.

5. It is _______________ private business firm in the world and is called "the standard railroad of the world."

(see the answer keys)

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