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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. What do managing directors actually do?
(a) Make the lives of senior vice presidents miserable.
(b) Sit in their offices and spend money.
(c) Scour the market for business and make deals.
(d) Make money for finance bankers.

2. Who decides the value of a business?
(a) The buying company.
(b) The owner of the selling company.
(c) Managing director or senior vice president.
(d) Presidents and senior vice presidents.

3. How did the recruiters get Troob and Rolfe to accept their offers?
(a) Filled them with booze and food.
(b) Promised to be their mentors.
(c) Threatened their future.
(d) Promised them fast promotions.

4. What do most business schools indoctrinate into their grads?
(a) How to party and have a good time.
(b) Having ethical business practices.
(c) Importance of a "money" culture.
(d) How to be a good investment banker.

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

Short Answer Questions

1. In the grand scheme of things, an associate was just _________ in the larger financial picture.

2. What investment bank did Troob secure a job with?

3. What must potential MBA graduates secure the summer before graduation?

4. The third section of the pitch book did what of the following?

5. How did the pitch book have to be designed?

Short Essay Questions

1. What two things happen when managing directors brokers a deal with an outside company?

2. Explain the daily routine of a first year associate at DLJ.

3. Where do the summer associates work at the DLJ offices and who constantly communicates with them there?

4. How did MBA students like Troob and Rolfe work to get summer positions at firms?

5. Although the hours where very long, how did DLJ "thank" its associates for all their work?

6. Unfortunately for associates, what takes priority over any other job they might have been assigned?

7. In an investment bank, how do analysts differ from associates?

8. Why were so many junior vice presidents always unhappy with their lives at DLJ?

9. How has investment banking changed from the Great Depression until the printing of the book?

10. What is involved in a research analysts job?

(see the answer keys)

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