1. What was Peer Wedvick devising?
(a) a scheme to sell contracts involving housing funds
(b) buying commercial paper
(c) flipping houses and commercial buildings
(d) money laundering

2. What was beginning to happen during this time?
(a) Junk bonds began to disappear from the market.
(b) Unemployment shot up as a results of the mergers and acquisitions.
(c) People were making vast amounts of money trading junk bonds.
(d) Junk bonds were becoming poorer in quality and there were more bankruptcies and defaults

3. How did Milken break into the Las Vegas gambling business community?
(a) Milken lowered his commissions to get large casino business.
(b) Milken helped Steve Wynn raise the funds he needed to build in Atlantic City.
(c) Milken traveled every weekend to gamble in Las Vegas.
(d) Milken showed the casino owners how they could double their income.

4. What was Fred Joseph's strategy for hiring employees for Drexel?
(a) getting recommendations from bigger firms
(b) hiring from the smaller firms so that they saw it as a step up
(c) paying higher commissions than anyone else
(d) overhiring to learn which are the ones to keep

5. Why did Drexel Burnham Lambert agree to let Milken move his operation at a cost of millions of dollars?
(a) Milken was responsible for almost all of the firm's profits.
(b) Milken threatened to leave.
(c) Milken had some inside information he could use in L. A.
(d) Milken was then major stock holder in the company.