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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. Steve Roth and Scott Brittenham make millions of dollars trading _____.

2. Mike Milkin of Drexel Burnham is the guru of _____.

3. By getting thrift managers to trade their bonds actively, Ranieri's sales force could transform a shy, nervous thrift president into a _____.

4. What fund goes from zero investment in the mortgage market in 1983 to thirty billion dollars worth of CMOs in 1986?

5. What type of nightmares is the author having at the beginning of "The Art of War"?

Short Essay Questions

1. What happens to the average age and the average age at Salomon Brothers in London in 1987?

2. Why do thrifts come back for more, even though they don't understand what is happening to their loans in the mortgage bond market?

3. Why does one trader think that Mark Smith is not a Trojan Horse like some of the other traders believe?

4. What is selling short?

5. From the moment the Federal Reserve lifted interest rates in October 1979, what happens to the thrifts?

6. How is Howie Rubin thought of at Salomon Brothers? Why?

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

8. What is the relationship of IOs and POs to the market?

9. What characterizes Stu Willicker's leadership style?

10. What is happening in colleges in Britain by the end of 1986?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Describe the environment of the fortieth floor at Salomon Brothers. Who is housed there, primarily? How does it compare to the forty-first floor in terms of atmosphere, prestige, and pace?

Essay Topic 2

Describe the change that took place in the bond market in the 1980s. What event took place in 1979 to affect this change? Who was involved? How did the change affect people's perception of bonds? How did Salomon Brothers make money at bonds?

Essay Topic 3

What happens when the author interviews for Lehman Brothers? Why does he interview for Lehman Brothers? Who comes to interview him? What does he say that affects the outcome of the interview? Why is the author perplexed at the reaction the interviewers have to his answer to their question?

(see the answer keys)

This section contains 800 words (approx. 3 pages at 300 words per page) View a FREE sample