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This quiz consists of 5 multiple choice and 5 short answer questions through Part 1: Chapter 3, Transformation.

Multiple Choice Questions

1. What are REITs?
(a) raw energy investment tables
(b) real estate instruments like mortgages
(c) rare employee investment tallies
(d) really extended investment trials

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

3. What did Milken's involvement in this business do for him personally?
(a) He married a movie star.
(b) He was finally able to take the train.
(c) He became very wealthy.
(d) He finally gained respect from Burnham.

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

5. Why did Drexel have to separate from J. P. Morgan?
(a) a disagreement between Drexel and Morgan
(b) the regulations of the sherman Anti-Trust Act
(c) the final break up of J. P. Morgan and Company
(d) the enactments of the Glass-Steagall Act in 1934

Short Answer Questions

1. What was Milken's goal by the early 1970s?

2. What was one thing Lowell Milken did for the company?

3. Who dominated the market in junk bond funds from 1978 on?

4. What was Milken's biggest contribution to Drexel in the early years?

5. What was the estate they bought?

(see the answer key)

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