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This quiz consists of 5 multiple choice and 5 short answer questions through Part 1: Chapter 6, The Air Fund.

Multiple Choice Questions

1. What was the address of the new building in L. A.?
(a) Sunset and Vine
(b) Hollywood and Vine
(c) Avenue of the Stars in Century City
(d) Rodeo Drive and Wilshire

2. Keeping New York office hours, at what time did they begin work in L. A.?
(a) 7:00 a.m.
(b) 4:30 a.m.
(c) 6:30 a.m.
(d) 10:00 a.m.

3. When inflation raised the value of assets but not stock prices, what was the result?
(a) People stopped buying stocks and company values soared.
(b) Junk bonds became less useful in building wealth.
(c) It was cheaper to buy a company than to start out from scratch.
(d) People began selling their stocks to start new businesses.

4. What kind of business did Milken's Belvedere Securities do?
(a) traded new lamps for old in a manner of speaking
(b) traded the body of the bond separate from its coupons
(c) traded bonds anonymously for clients of Drexel
(d) traded business secrets learned in hostile takeovers

5. Who moved to Los Angeles with Milken?
(a) several Wall Street firms
(b) most of his friends
(c) most of his staff
(d) most of his relatives

Short Answer Questions

1. What did Milken's involvement in this business do for him personally?

2. What did Joseph label his brainstorming information about LBOs?

3. What did the Federal Home Loan Bank Board discover about what Spiegle at Columbia Savings and Loan was doing?

4. Why was Milken so interested in low grade bonds?

5. What was it about Milken that impressed his clients?

(see the answer key)

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