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This quiz consists of 5 multiple choice and 5 short answer questions through Part 3: Chapter 13, The Enforcer.

Multiple Choice Questions

1. What did Milken refuse to have in the Drexel annual report?
(a) his letter to the shareholders
(b) a description of his operation
(c) his photo and the organization of his staff
(d) the names of his staff

2. What made a Wickes takeover so attractive to Sanford Sigoloff?
(a) It was losing stock value and had few debts.
(b) It was over valued on the Wall Street Stock Exchange.
(c) It was emerging from Chapter 11 bankruptcy with a large tax-loss carryforward
(d) Wickes was his mother's maiden name.

3. What did the Milken brothers do probably without notifying Drexel?
(a) set up their own investment banking business
(b) underwrite bond issues in excess for $1 trillion
(c) investment partnerships that were to be registered with Bear Stearns
(d) buy into a number of smaller investment firms

4. What did Milken demand from everyone around him?
(a) any information they overheard
(b) that they call him Mr. Milken
(c) more money for his services
(d) things done the way he wanted them done

5. What kind of business did Milken's Belvedere Securities do?
(a) traded business secrets learned in hostile takeovers
(b) traded bonds anonymously for clients of Drexel
(c) traded new lamps for old in a manner of speaking
(d) traded the body of the bond separate from its coupons

Short Answer Questions

1. Why was Milken nervous about the large deals?

2. What was Perelman planning to do when he took over Pantry Pride in 1985?

3. When were the tax laws changed to minimize the benefits of stripping?

4. By 1983, what was the worth of Drexel's junk bond business?

5. What did Bergerac and his allies forget in the process of fighting the takeover?

(see the answer key)

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