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This quiz consists of 5 multiple choice and 5 short answer questions through Part 3: Chapter 14, Sovereign Privileges.

Multiple Choice Questions

1. Before Sigoloff switched to Drexel, who was handling his takeover bid for Wickes?
(a) Morgan Stanley
(b) Salomon Brothers
(c) Lehman Brothers
(d) Merrill Lynch

2. What was HITS?
(a) a high yield mutual fund that Drexel formed
(b) a government investigation agency
(c) Hard Investment Trade Secrets
(d) High Interest Tax Service

3. Why was the Revlon takeover a landmark case for Perelman and Drexel?
(a) This one was almost as large as the Phillips Petroleum takeover.
(b) Because of its base of female customers, Revlon was vulnerable to bad publicity.
(c) If Perelman won, it would set the precedent for other such takeovers.
(d) The most impassioned corporate defenders were united against Milken's onslaught.

4. What did Milken offer this market segment?
(a) a new kind of debt instrument
(b) a hope for recovery
(c) a protection from takeover
(d) ten cents on the dollar

5. What was the estate they bought?
(a) the Judy Garland estate
(b) the Clark Gable-Carole Lombard estate
(c) the Pickford estate
(d) the Jackie Coogan estate

Short Answer Questions

1. What was beginning to happen during this time?

2. How did bondholders often operate in noncompliance with SEC rules?

3. What was the result when rules on M&A were finally adopted by the Congress?

4. What was the purpose of Fred Joseph's meeting at the Barbizon Plaza in New York?

5. What were many of the money managers who started with Milken in the late 1970s doing in the 1980s?

(see the answer key)

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