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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. 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 was then major stock holder in the company.
(c) Milken was responsible for almost all of the firm's profits.
(d) Milken had some inside information he could use in L. A.

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

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

4. What became the name of bonds that come into being during highly leveraged takeovers?
(a) Tickertape
(b) Chinese paper
(c) Hot paper
(d) Paper trails

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

Short Answer Questions

1. Why did Milken's people say they performed so well?

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

3. Why did Drexel have to separate from J. P. Morgan?

4. What did Milken refuse to have in the Drexel annual report?

5. What was the result in 1974 when International Nickel Company raided ESB?

(see the answer key)

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