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

Multiple Choice Questions

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

2. John Wolfe attended _____ while Peter Trobb attended _______ Business School.
(a) Washington University; America University.
(b) Wharton; Harvard.
(c) Princeton; Yale.
(d) Brown; Stanford.

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

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

5. What did new graduates start out as at investment banking firms?
(a) Managing directors.
(b) Word processors.
(c) Associates and analysts.
(d) Junior vice presidents.

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

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

8. What did the winning investment bank distribute to potential buyers to get a sale?
(a) A prospectus.
(b) A pitch book.
(c) A deed of sale.
(d) A graph booklet.

9. The personal accounts of the interview process by both Troob and Rolfe were filled with ______ and ______.
(a) Fear; humor.
(b) Craziness; satire.
(c) Sadness; humor.
(d) Humor; satire.

10. 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 was a summer associate, so he knew a lot about the industry.
(c) He knew a lot because all his friends were in banking.
(d) He knew very little because he had not worked for an investment bank.

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

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

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

14. What investment bank did Troob secure a job with?
(a) Lehman Brothers.
(b) Anz Investment Bank.
(c) Barclays Capital.
(d) DLJ.

15. What is a large investment bank a part of?
(a) A hedge fund.
(b) A large financial company.
(c) A mutual fund.
(d) Finance review board.

Short Answer Questions

1. What were all nine summer associates looking forward to come fall?

2. Who decides the value of a business?

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

4. If the associate or analyst does not come up with enough support for the valuation, what happened to them?

5. The second section of the pitch book did what of the following?

(see the answer keys)

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