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This quiz consists of 5 multiple choice and 5 short answer questions through Part 1: Chapter 4, Merge with Mike.

Multiple Choice Questions

1. What was the Wall Street attitude toward low grade bonds at the time Milken started trading in them?
(a) They were looked down on.
(b) They were unknown to Wall Street.
(c) They were used as charitable donations.
(d) Then were used for scratch paper.

2. Who dominated the market in junk bond funds from 1978 on?
(a) Morgan Investments
(b) Fidelity
(c) Drexel
(d) Lehman Brothers

3. 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

4. Who becomes Milken's ally and public face in 1974?
(a) Cary Grant
(b) Fred Joseph
(c) Khun Loeb
(d) Tubby Burnham

5. What was Drexel's only real competition by the 1980s?
(a) Barnes and Noble
(b) Lehman Brothers
(c) Merrill Lynch
(d) Morgan Stanley

Short Answer Questions

1. What was the purpose of Fred Joseph's meeting at the Barbizon Plaza in New York?

2. What are REITs?

3. For whom did Milken do trading?

4. With whom was the firm of Drexel Burnham Lambert identified by the late 1970s?

5. Why did the new Drexel Burnham company give Milken a $2 million position?

(see the answer key)

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