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This quiz consists of 5 multiple choice and 5 short answer questions through Part 3: Chapter 15, Boesky Day.

Multiple Choice Questions

1. How was Drexel being spoken of after the success of so many hostile takeovers?
(a) as near criminals skirting the law
(b) as the investment firm of the future
(c) a god that could do whatever it wanted in the niche it was in
(d) as the devil in disguise

2. Where did Grant point out most of the junk bonds were held?
(a) in escrow
(b) in the hands of a few Milken people
(c) in the Federal Reserve Bank
(d) only in the hands of major corporations

3. Before Sigoloff switched to Drexel, who was handling his takeover bid for Wickes?
(a) Lehman Brothers
(b) Salomon Brothers
(c) Merrill Lynch
(d) Morgan Stanley

4. What does FIFI stand for?
(a) Field Investment File Information
(b) Five Investment Features Initiative
(c) First Investors Fund for Income
(d) Fund Income from Favored Investors

5. Why did the LTV situation not affect Drexel?
(a) The thrifts that collapsed and the defaults that occurred were not among Milken's customers
(b) Drexel used its own money to secure the LTV bonds.
(c) Drexel engineered a second buyout of LTV.
(d) Drexel pointed out the way LTV misused junk bonds.

Short Answer Questions

1. How did Milken decide to help Peltz?

2. What are two other notable takeovers done by Perelman after Revlon?

3. What was a cause of the market crash of 1974?

4. What did Milken refuse to have in the Drexel annual report?

5. Why were Milken's imitators not as successful as he was?

(see the answer key)

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