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

Multiple Choice Questions

1. How did Troob and Rolfe eventually become fast friends?
(a) Troob rescued Rolfe from being attacked at the office.
(b) Troob bailed Rolfe out of an embarrassing situation.
(c) Troob helped Rolfe with a difficult task at work.
(d) Rolfe and Troob are very much alike.

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

3. What do investment bankers work to secure for growing, flourishing businesses?
(a) New employees.
(b) Different, expanded office space.
(c) Money and capital.
(d) Sub mortgages.

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

5. Upon accepting the offer to DLJ, what were both Troob and Rolfe given?
(a) A sign-on bonus.
(b) A promise of a 20% raise in a year.
(c) A New York City apartment.
(d) A new car.

6. This is an upper position at an investment bank. There are usually plenty of these positions, but they must put in very long hours to be promoted.
(a) Analyst.
(b) Managing director.
(c) Vice presidents.
(d) Associate.

7. Who developed the pitch book?
(a) Angry managing directors.
(b) Analysts and associates.
(c) Repressed junior vice presidents.
(d) Associates under the guidance of vice presidents.

8. One in how many pitches typically wins a deal?
(a) Five.
(b) Nine.
(c) Ten.
(d) Three.

9. The turn over rate in this position is extremely high. Many believe the position will be less abusive. Employees expect to quickly move up from this position, but are unable to.
(a) Managing Director.
(b) Associate.
(c) Vice president.
(d) Analyst.

10. How did the associates justify the value of a company?
(a) Whatever creative methods he needed to use.
(b) Doing research of the company that is for sale.
(c) Math equations.
(d) Discussing the value with lawyers.

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

12. Of all the positions, who was the lowest and most numerous?
(a) Associates.
(b) Analysts.
(c) Assistants.
(d) Banking clerks.

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

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

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

Short Answer Questions

1. What is a large investment bank a part of?

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

3. At this point in the book, why do Troob and Rolfe decide to stay at DLJ and work for a permanent offer?

4. Who was often assigned to the above person's pitch books?

5. When did two senior bankers arrive at Harvard to recruit Troob?

(see the answer keys)

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