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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. What did Milken refuse to have in the Drexel annual report?
(a) his photo and the organization of his staff
(b) a description of his operation
(c) the names of his staff
(d) his letter to the shareholders

2. Why did Milken's people say they performed so well?
(a) because they learned from the King
(b) because they had to get up so early
(c) because he would accept nothing less
(d) because they were maing so much money

3. Where was most of Drexel's money made through investment partnerships?
(a) in Tokyo
(b) in New York
(c) in Beverly Hills
(d) in Paris

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

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

Short Answer Questions

1. Where did Milken want to move his bond operation unit in 1978?

2. How was Drexel being spoken of after the success of so many hostile takeovers?

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

4. Who are two examples of Milken clients who became quite wealthy?

5. What was the result when many Drexel employees were not allowed into Milken's investment groups?

(see the answer key)

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