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

Multiple Choice Questions

1. In investment banking, what continually happened?
(a) Clients bought companies at inflated prices.
(b) Clients sold multiple companies at once.
(c) Companies hardly buy other companies.
(d) Clients compromise the sale of their companies.

2. What activity took up most of the summer associates' time?
(a) Developing pitch books.
(b) Traveling to develop pitches.
(c) Fetching lunch and dinner for the higher ups.
(d) Meetings.

3. How many summer associates worked at DLJ that summer?
(a) Three.
(b) Nine.
(c) Twenty.
(d) Fifteen.

4. How did the two men console themselves after accepting the offer?
(a) A more senior position would be easier.
(b) They got to spend all the money the wanted.
(c) Troob and Rolfe will have one another.
(d) They will know their way around the company.

5. If the role of match-maker and consultant diminishes, what happened for the investment banker?
(a) He hates his job.
(b) He made less money.
(c) Consults other investment bankers for a fee.
(d) He shares commission with other investment banks.

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

7. What kind of firm was the investment bank that Rolfe and Troob were to work for?
(a) Smart, caring and hardworking.
(b) An older firm.
(c) A new, aggressive kid on the block.
(d) New age.

8. What does the organizational chart of an investment bank look like?
(a) A circle.
(b) A pyramid.
(c) A diamond.
(d) A top down line.

9. If the associate or analyst does not come up with enough support for the valuation, what happened to them?
(a) They were fired.
(b) They were reprimanded.
(c) Forced to take a demotion.
(d) They were suspended without pay.

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

11. What did investment banking begin as?
(a) A way to make money.
(b) A form of charitable giving.
(c) A form of advice giving.
(d) A way of lending money.

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

13. Why did one associate fall asleep while questioning Dick Jenrette?
(a) He was dared to act like her was falling asleep.
(b) The associate thought Jenrette was boring.
(c) He pulled two all nighters in a row.
(d) He was extremely rude.

14. These two positions are the most senior at an investment bank. There are extremely few of these positions at the company. They usually make six figure incomes.
(a) Managing directors and senior vice presidents.
(b) Associates.
(c) Analysts.
(d) Junior vice presidents.

15. What kind of man was Ed Stanley?
(a) An upper level associate with lots of money.
(b) A rich man with lovely life and a number of golf courses.
(c) An ugly rich old man.
(d) The head of the marketing department.

Short Answer Questions

1. What do managing directors actually do?

2. The fourth section of the pitch book did what of the following?

3. According to the authors, what did the Wall Street Business machine do to new MBA graduates?

4. What unlikely venue did recruiters take Troob and Rolfe?

5. How did the recruiters get Troob and Rolfe to accept their offers?

(see the answer keys)

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