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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 was the object of gaining control of a company and sell off many of its divisions?
(a) to make money on the sales and then dump the parent company
(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 avoid reporting where the purchas price was coming from

2. What did the Federal Home Loan Bank Board discover about what Spiegle at Columbia Savings and Loan was doing?
(a) financing his junk bond purchases with federally insured funds
(b) manipulating his competitors out of business
(c) using Columbia Savings and Loan money to finance his own investments
(d) making fictitious home loans

3. Who was behind the success of both First Executive and Columbia Savings?
(a) Mike Milken
(b) Lowell Milken
(c) Fred Carr
(d) Thomas Spiegle

4. What was the result in 1974 when International Nickel Company raided ESB?
(a) the beginning of many hostile raids
(b) junk bonds became passe
(c) Milken denounced the deal
(d) no one was surprised

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

Short Answer Questions

1. To troubled businesses, what was Drexel's unregistered exchange offer?

2. Who were some customers who received better deals from Milken?

3. What was the largest bankruptcy in 1986?

4. Who was James Grant?

5. What was Fred Joseph's strategy for hiring employees for Drexel?

(see the answer key)

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