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

Multiple Choice Questions

1. How much did Rolfe know about investment banking, prior to starting as a summer associate?
(a) A lot because his father was an "I-Banker."
(b) He knew a lot because all his friends were in banking.
(c) He was a summer associate, so he knew a lot about the industry.
(d) He knew very little because he had not worked for an investment bank.

2. What is a good way to describe the junior vice presidents?
(a) Trapped in an unbalanced life.
(b) Eager to please every one.
(c) The nicest of all groups that work at DLJ.
(d) Always willing to go the extra mile for a friend or co worker

3. When did two senior bankers arrive at Harvard to recruit Troob?
(a) May.
(b) January.
(c) September.
(d) October.

4. What did the department heads explain to the new recruits?
(a) How to work the investment banking system.
(b) How to get ahead in banking life.
(c) Investment banking 101.
(d) Explained their little piece of DLJ.

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

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

7. Who rarely visited the Bullpen?
(a) Analysts.
(b) Junior VPs.
(c) Normal associates.
(d) Managing directors and senior vice presidents.

8. What did many recruiters like to do while traveling?
(a) Went to expensive dinners.
(b) Clubbing.
(c) Relax and got massages.
(d) Played golf.

9. At training, what were all new associates told they were?
(a) The runt of the group.
(b) The smartest group of recruits.
(c) Fresh meat.
(d) The golden child of the group.

10. What place did the recruiters think was appropriate to take Troob, Rolfe, and others?
(a) A strip club.
(b) A bowling alley.
(c) To a basketball game.
(d) Out for pedicures.

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

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

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

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

15. What must potential MBA graduates secure the summer before graduation?
(a) A job.
(b) A salary.
(c) Friends to help them through their jobs.
(d) A place to live.

Short Answer Questions

1. What did most of Bubble pitch books require?

2. What was clear about Troob and Rolfe's choice of career?

3. What do investment banks no longer put up front to help the new business?

4. If a company is expect to grow by _______, it was a good buy.

5. What do investment bankers work to secure for growing, flourishing businesses?

(see the answer keys)

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