2. What kind of business did Milken's Belvedere Securities do?
(a) traded new lamps for old in a manner of speaking
(b) traded the body of the bond separate from its coupons
(c) traded business secrets learned in hostile takeovers
(d) traded bonds anonymously for clients of Drexel

3. To find more ways for their clients to make money, to what did Milken and Joseph turn their attention?
(a) offshore banking
(b) mergers and acquisitions
(c) entertainment properties
(d) financial planning

4. Who moved to Los Angeles with Milken?
(a) most of his staff
(b) most of his relatives
(c) most of his friends
(d) several Wall Street firms

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

6. What government regulation made it easier for multiple mergers in the 1980s?
(a) a relaxation of antitrust restrictions
(b) cuts in the minimum wage
(c) gauranteed loans for mergers
(d) deregulation of banks

7. Why did Drexel want Carl Icahn as a client?
(a) He was a risk taker that would make money even if he failed.
(b) Icahn would not use junk bonds to finance his hostile takeovers.
(c) Most other firms wouldn't handle him and he would be willing to pay the price to the investors of junk bonds.
(d) Icahn had liquid capital in offshore banks.

8. What advantage did Milken's kind of debt offer?
(a) It was easier to use than getting a bank loan.
(b) It did not tie up cash the way loan repayments did.
(c) It was done under the table so the banks did not know about it.
(d) It was separate from bank loans and the bondholder could sell his bonds whenever he wanted

9. By 1986, who was the largest stockholder in Drexel Burnham Lambert?
(a) Grace Milken
(b) the Milken Family Trust
(c) Lowell Milken
(d) Michael Milken

10. Who are two examples of Milken clients who became quite wealthy?
(a) Lawrence Welk and Ray Milland
(b) James Brown and Kevin Bacon
(c) Marty Ingles and Shirley Jones
(d) Fred Carr and Thomas Spiegle

11. Who made the acquisition in the American Natural Resources (ANR) case?
(a) J. P. Morgan and Chase Manhattan
(b) Oscar Wyatt and Coastal Corporation
(c) Ted Turner and TNT
(d) Fred Joseph and Drexel

12. Eventually, what did First Federal and Columbia Savings become?
(a) enormous appendages of Milken
(b) big players in the construction industry
(c) part of the Drexel company
(d) regular commercial banks

13. How did Milken and his wife travel to Los Angeles?
(a) by car
(b) by private jet
(c) by bus
(d) by train

14. What is it called when someone holds a financial advantage over a company to force a sale?
(a) greenmail
(b) proxy fighting
(c) hijacking
(d) investment banking

15. How much money and how fast did Drexel raise for the Phillips Petroleum proxy fight?
(a) $10 million in a week
(b) $1.5 billion in forty-eight hours
(c) 2 billion in one month
(d) a half billion in three days