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This quiz consists of 5 multiple choice and 5 short answer questions through Part 2: Chapter 8, Icahn-TWA: From Greenmailer to Manager-Owner.

Multiple Choice Questions

1. To find more ways for their clients to make money, to what did Milken and Joseph turn their attention?
(a) entertainment properties
(b) mergers and acquisitions
(c) financial planning
(d) offshore banking

2. By 1983, what was the worth of Drexel's junk bond business?
(a) $2 billion
(b) $460 billion
(c) $4.690 billion
(d) $40 billion

3. To troubled businesses, what was Drexel's unregistered exchange offer?
(a) creating additional Chinese paper
(b) a way of using stocks or bonds to meet the interest obligations
(c) lowering their interest rates to businesses
(d) trading under the table

4. Where did Milken want to move his bond operation unit in 1978?
(a) Las Cruces
(b) Los Alamos
(c) Los Angeles
(d) Las Vegas

5. How did bondholders often operate in noncompliance with SEC rules?
(a) overstating the values of bonds
(b) not declaring income from bond sales
(c) secrecy in the bond market
(d) selling bonds before they were registered

Short Answer Questions

1. What was HITS?

2. What was the Milken philosophy?

3. When he heard on the radio about a change in options to buy stocks, what did Milken do that saved Drexel Burnham Lambert?

4. What company was a proxy fight that Carl Ichan lost?

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

(see the answer key)

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