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

Multiple Choice Questions

1. What was a perk of being a senior vice president?
(a) Doing little work with
(b) Getting introduced to beautiful women.
(c) Meeting celebrities.
(d) Huge salaries and more time to enjoy them.

2. This job in investment banking has no hopes for advancement. Employees are paid huge salaries but for two or three years live under harsh, abusive conditions until they can go back to school for their MBA degrees.
(a) Associate.
(b) Analyst.
(c) Vice President.
(d) Managing director.

3. What did most of Bubble pitch books require?
(a) Very colorful pictures.
(b) At least 300 page pitches.
(c) Constant brainstorming.
(d) Complete secrecy.

4. What do most business schools indoctrinate into their grads?
(a) Importance of a "money" culture.
(b) Having ethical business practices.
(c) How to be a good investment banker.
(d) How to party and have a good time.

5. In the grand scheme of things, an associate was just _________ in the larger financial picture.
(a) Unnecessary.
(b) The most important part of the job.
(c) A piece of dust.
(d) Meaningless.

6. What was exciting about the DLJ training in August?
(a) The associates were exposed to expense accounts and lavish lifestyles.
(b) The associates learned more about the company.
(c) The grads were traveled around the world.
(d) The graduates got to see New York City.

7. The first section of the pitch book did what of the following?
(a) Glorified the company.
(b) Overviewed the health of the company.
(c) Offered the value of the company.
(d) Gives the values of the investment banking firm.

8. How did these people communicate with the associates in the Bullpen?
(a) On instant message.
(b) Over email.
(c) Over the phone.
(d) By mail messenger.

9. What were all nine summer associates looking forward to come fall?
(a) A chance to impress the bosses.
(b) A permanent offer.
(c) Going back to school.
(d) A big summer bonus.

10. Why did Troob have a better chance of landing a new job?
(a) He had a job in the banking industry.
(b) He knows more recruiters.
(c) He was more approachable.
(d) He had family connections.

11. To the recruiters, what were Troob and Rolfe?
(a) Easy targets to get recruited.
(b) Another deal or project to close.
(c) Stupid young men looking to make money.
(d) Lackeys.

12. What is discounted cash flow analysis?
(a) The means of discounting items that are for sale.
(b) A way to count money.
(c) Profit margins are used to pump up the future value of a company.
(d) An invented way of undervaluing a company.

13. In general, what are associates expected to do?
(a) Create lies for their companies.
(b) Be personal assistants for managing directors.
(c) Generate a lot of factual information for the buying and selling of companies.
(d) Sit in on meetings and take notes.

14. What happened to the investment banker that overvalued the company?
(a) The banker hid the mistake.
(b) The banker was celebrated.
(c) The investment bank would protect them.
(d) The banker was black marked.

15. What was another perk of signing with DLJ?
(a) A relocation bonus.
(b) Free car.
(c) A new wardrobe.
(d) Dating service membership.

Short Answer Questions

1. What do growing businesses need to expand?

2. Who was Les Newton?

3. In addition to "Cadillac" schools, now investment banks seek graduates from _______.

4. The summer between an MBA program is _________.

5. What kind of man was Ed Stanley?

(see the answer keys)

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