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

Multiple Choice Questions

1. In the investment banking world, what were comps?
(a) Comparable profit margins.
(b) The name of a certain type of employee.
(c) Competitors.
(d) Business of the same nature as the business being sold.

2. When were some of the only times new an old associates and old associates speak their true feelings concerning DLJ?
(a) When they go on an outing to the Empire State Building.
(b) After doing drugs.
(c) After a bonding experience in the country.
(d) When they were all very drunk.

3. While investment bankers jobs have stayed somewhat the same, what had changed?
(a) More people have access to the inside scoop.
(b) They no longer want to sell companies.
(c) Bankers have expanded their job capabilities.
(d) SEC regulations.

4. What do growing businesses need to expand?
(a) Capital.
(b) Bonds.
(c) Gains and losses.
(d) Stocks.

5. What do top investment banking firms usually seek?
(a) Eager, investment bankers from other companies.
(b) Graduates from priemer business grad schools.
(c) Smart graduates.
(d) More money.

6. How much could a summer associate expect to work?
(a) A normal 40 hour work week.
(b) An 80 hour week.
(c) Only on the weekends.
(d) All the time and all hours.

7. What happened if a company was overvalued by an investment banker?
(a) The market will show the company is overvalued.
(b) The bank will try to keep the secret.
(c) The market will hide the true nature of the company.
(d) The SEC got involved.

8. In interviews, besides showing the personality of Troob and Rolfe, whose personalities were shown?
(a) The school administrators.
(b) Recruiters.
(c) The managing directors.
(d) Vice presidents.

9. Why did most people become analysts?
(a) To do valuable work for an important cause.
(b) To gain experience.
(c) To make a lot of money.
(d) To see what investment banking is all about.

10. What word best describes the rich recruiters and their actions towards Troob, Rolfe, and the other recruits?
(a) Grown up frat boys.
(b) Match-makers.
(c) Mean bullies.
(d) Cattle ranchers.

11. If a company wants to sell a subsidiary, what is the process?
(a) They must petition the SEC.
(b) To use only one investment banker.
(c) Go through lawyers.
(d) To contact several banks and accept the best pitch.

12. At the time the book was published, what does the average upper level investment banker make?
(a) $2,000,000.
(b) $950,000.
(c) $1,000,000.
(d) $750,000.

13. What is comparable multiple analysis?
(a) Forcing a selling company to match the profile of another company.
(b) Creating additional comps for the market.
(c) Ignoring reputable comps in the market.
(d) Sharing comps with other investment banks.

14. How was one of Rolfe's friends able to get Rolfe a job?
(a) She knew the recruiter and made a call.
(b) She used her charms to presuade a DLJ recruiter.
(c) She asked her father to make a couple of calls to DLJ.
(d) She already worked at DLJ.

15. 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) Vice President.
(b) Analyst.
(c) Managing director.
(d) Associate.

Short Answer Questions

1. What did the new employees all enjoy during the training?

2. Why were investment bankers paid the big bucks?

3. What were Troob and Rolfe not ready to do as they find out what there job will be?

4. What did the winning investment bank distribute to potential buyers to get a sale?

5. How did the two men console themselves after accepting the offer?

(see the answer keys)

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