1. What did the Milken brothers do probably without notifying Drexel?
(a) set up their own investment banking business
(b) underwrite bond issues in excess for $1 trillion
(c) buy into a number of smaller investment firms
(d) investment partnerships that were to be registered with Bear Stearns

2. What did the Federal Home Loan Bank Board discover about what Spiegle at Columbia Savings and Loan was doing?
(a) manipulating his competitors out of business
(b) financing his junk bond purchases with federally insured funds
(c) using Columbia Savings and Loan money to finance his own investments
(d) making fictitious home loans

3. For whom did Milken do trading?
(a) not only for customers, but also his own account and his group's account
(b) only for family and friends to keep attention away from himself
(c) just for Drexel Burnham Lambert because of the volume of work
(d) only for himself now because he was making so much money

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

5. What was the purpose of Fred Joseph's meeting at the Barbizon Plaza in New York?
(a) pirating talent from some of the biggest firms on Wall Street
(b) consideration of all ideas, even the far-out and the flamboyant, instead of the conservative
(c) to undermine Milken and take over control of the Department
(d) gathering inside information to take back to Los Angeles