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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. Where did Milken and his wife buy a house?
(a) Encino
(b) Beverley Hills
(c) San Clemente
(d) Santa Monica

2. What was one thing Lowell Milken did for the company?
(a) make the coffee
(b) keep out unwanted visitors
(c) make political contacts
(d) find tax shelters for them

3. What was Milken's goal by the early 1970s?
(a) He wanted to move into high-yield bonds.
(b) He wanted low-yield bonds to be its own specialty.
(c) He wanted to own Drexel Burnham.
(d) He wanted to have his own firm.

4. With whom was the firm of Drexel Burnham Lambert identified by the late 1970s?
(a) Michael Milken
(b) Tubby Burnham
(c) Fred Joseph
(d) Ronald Reagan

5. By 1986, who was the largest stockholder in Drexel Burnham Lambert?
(a) Michael Milken
(b) the Milken Family Trust
(c) Lowell Milken
(d) Grace Milken

Short Answer Questions

1. By 1981, what was Drexel responsible for?

2. What was the result of changes in the investment banking industry in the 1970s?

3. What influenced Milken to become interested in low grade bond portfolios?

4. What did Milken offer this market segment?

5. What was the Wall Street attitude toward low grade bonds at the time Milken started trading in them?

(see the answer key)

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