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

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

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

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

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

Short Answer Questions

1. What do top investment banking firms usually seek?

2. If a deal is brokered between a managing director and a client, what did this mean for associates and analysts?

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

4. What is a good way to describe the junior vice presidents?

5. How long did the new associate training last at DLJ?

Short Essay Questions

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

2. Why was Rolfe scared of what he would become if he stayed with DLJ?

3. Why did Discounted Cash flow Analysis annoy Troob and Rolfe?

4. Name the sections of the pitch book and what is involved in each section.

5. Unfortunately for Rolfe, he rarely slept while working on pitch books. Why does he put up with this horrible lifestyle.

6. How did the two recruiters persuade Troob to take the position?

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

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

9. Why is the summer in between an MBA program critical for many students?

10. In the Merry-Go-Round, what is a major part of developing a pitch book?

(see the answer keys)

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