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

2. By 1981, what was Drexel responsible for?
(a) moving Wall Street to Los Angeles
(b) almost all of the junk bonds in the market
(c) leading the field in high interest bonds
(d) engineering most of the hostile takeovers

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

4. How did the firm now have equity stakes in most of the companies that it financed?
(a) by swapping Chinese paper for stock in the companies
(b) by buying stakes in many companies instead of financing them
(c) by demanding larger stakes in the companies
(d) by using the firm's capital to finance the companies

5. How did Milken and his wife travel to Los Angeles?
(a) by bus
(b) by private jet
(c) by car
(d) by train

Short Answer Questions

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

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

3. Keeping New York office hours, at what time did they begin work in L. A.?

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

5. What were Milken's results the first year in his new position at Drexel Burnham?

(see the answer key)

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