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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. Investment banking in America is a long-standing _____.
(a) Monarchy.
(b) Partnership.
(c) Dictatorship.
(d) Oligopoly.

2. Gutfreund is treated like a _____ in London.
(a) Crazy uncle.
(b) Brother.
(c) Gauche American tourist.
(d) King.

3. Ronald O. Perelman is a hostile trader who took over which cosmetics company?
(a) L'Oreal.
(b) Smashbox.
(c) Maybelline.
(d) Revlon.

4. Who are the biggest shoppers for mortgage products?
(a) Foreign investors.
(b) Homeowners.
(c) Thrifts.
(d) Government agencies.

5. Who writes the book, On War?
(a) Moskowitz.
(b) Lipinski.
(c) Clausewitz.
(d) Prausnitz.

Short Answer Questions

1. In Salomon Brothers: Advance to Leadership, Gutfreund is cast as what type of figure?

2. How much debt does the savings and loan companies seem to want to sell in 1981?

3. What is the primary aspect of business that always matters most at Salomon Brothers?

4. On Wall Street, there is no theoretical basis for pricing a homeowner's option to _____ his loan.

5. Lewis characterizes the sprinting rabbit statue at the new London office as a _____.

Short Essay Questions

1. Does Michael Milken consider himself a part of Drexel Burnham?

2. What is selling short?

3. What is drifting away from Salomon Brothers and toward Drexel Burnham in 1987? Why?

4. As the author gains more experience working in London, what does he think interests European traders that differs from American traders?

5. Why do costs at Salomon Brothers seem to suddenly matter in 1985?

6. The author is convinced that the worst thing a man can do with a telephone without breaking the law is what?

7. What are some of the bad habits mortgage traders have developed regarding the use of the Salomon Brothers expense account?

8. Despite the upheaval in the mortgage market, what is the initial objection that remains valid as the mortgage market evolves?

9. What are the two kinds of friction at Salomon Brothers?

10. What characterizes Stu Willicker's leadership style?

(see the answer keys)

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