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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. How was Joseph building his diversified team?
(a) by training inexpensive novices to learn the business
(b) by computerizing his entire operation
(c) by hiring people away from other firms for huge salaries
(d) by taking his time to get the right people together

2. Why did Milken take the bus from New Jersey to Wall Street?
(a) because he could not afford the train
(b) to avoid talking to Wall Street people
(c) because he liked the people on the bus
(d) because he did not drive a car

3. In many ways, what became the role of Milken?
(a) the role of enforcer
(b) the role of adviser
(c) the rold of peacemaker
(d) the role of enquirer

4. What commission did Drexel make on these funds?
(a) seven eighths of a percent
(b) five eighths of a percent
(c) one percent
(d) three quarters of a percent

5. What was the advantage FIFI and other like funds offer?
(a) simplicity of buying
(b) a higher yield than Treasury bonds
(c) more security than Treasury bonds
(d) better availability

Short Answer Questions

1. How did Milken break into the Las Vegas gambling business community?

2. What became the craze on Wall Street in 1986?

3. Why did people like Lawrence Coss of Green Tee Acceptance feel they were targets of hostile takeovers?

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

5. What did Milken demand from everyone around him?

(see the answer key)

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