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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. Who told Perelman that Revlon was not for sale?
(a) Tubby Burnham
(b) Michael Milken
(c) Carl Icahn
(d) Michael Bergerac

2. What did Kansa and Clarendon both have that Wedvick needed?
(a) AA rating
(b) no supervision
(c) excess capital
(d) corrupt employees

3. What was the object of gaining control of a company and sell off many of its divisions?
(a) to avoid reporting where the purchas price was coming from
(b) to be left with the best part of the company almost for free
(c) to bring the bought company down to manageable size
(d) to make money on the sales and then dump the parent company

4. Where did Milken and his wife buy a house?
(a) San Clemente
(b) Encino
(c) Beverley Hills
(d) Santa Monica

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

Short Answer Questions

1. Where was much of the money coming from for takeovers in the 1980s?

2. For whose benefit were most of the investment partnerships?

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

4. What influenced Milken to become interested in low grade bond portfolios?

5. What did Joseph need to achieve his goal of making Drexel a world-class institution?

(see the answer key)

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