1. What was it about Milken that impressed his clients?
(a) his willingness to bargain when he sold them junk bonds
(b) his connections with politicians and movie stars
(c) his inside information about the junk bond companies
(d) his knowledge and memory for details about every bond there was.

2. What was Milken's biggest contribution to Drexel in the early years?
(a) an entry into the social circles of high-yield bond traders
(b) a recruiting system to get the brightest Ivy League graduates
(c) a study of the securities delivery system which cut the delivery time from five days to one
(d) engineering the change over to computers

3. How did Milken break into the Las Vegas gambling business community?
(a) Milken lowered his commissions to get large casino business.
(b) Milken helped Steve Wynn raise the funds he needed to build in Atlantic City.
(c) Milken showed the casino owners how they could double their income.
(d) Milken traveled every weekend to gamble in Las Vegas.

4. What advantage did Milken's kind of debt offer?
(a) It was separate from bank loans and the bondholder could sell his bonds whenever he wanted
(b) It was easier to use than getting a bank loan.
(c) It did not tie up cash the way loan repayments did.
(d) It was done under the table so the banks did not know about it.

5. What became the name of bonds that come into being during highly leveraged takeovers?
(a) Chinese paper
(b) Tickertape
(c) Paper trails
(d) Hot paper