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

2. What did Milken offer this market segment?
(a) ten cents on the dollar
(b) a protection from takeover
(c) a hope for recovery
(d) a new kind of debt instrument

3. What was Milken's problem with back office people at Drexel?
(a) He was less educated than they were.
(b) He did not work well with Jewish people.
(c) He did not understand their work.
(d) He could not communicate with them.

4. Who was Dr. Feelgood of Drexel?
(a) Lowell Milken
(b) Michael Milken
(c) Fred Joseph
(d) Tubby Burnham

5. Why did Drexel Burnham Lambert agree to let Milken move his operation at a cost of millions of dollars?
(a) Milken threatened to leave.
(b) Milken had some inside information he could use in L. A.
(c) Milken was responsible for almost all of the firm's profits.
(d) Milken was then major stock holder in the company.

Short Answer Questions

1. What was the advantage FIFI and other like funds offer?

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

3. What are REITs?

4. Where did Milken and his wife buy a house?

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

(see the answer key)

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