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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. Why did Milken's people say they performed so well?
(a) because they had to get up so early
(b) because they were maing so much money
(c) because they learned from the King
(d) because he would accept nothing less

2. When he heard on the radio about a change in options to buy stocks, what did Milken do that saved Drexel Burnham Lambert?
(a) turned around and went back
(b) made calls from pay phones
(c) cabeled DBL to warn them
(d) stopped in St. Louis and started buying

3. What company was a proxy fight that Carl Ichan lost?
(a) AB Electrolux
(b) Tappan
(c) Hammermill
(d) the Times, Inc.

4. Who was Dr. Feelgood of Drexel?
(a) Lowell Milken
(b) Tubby Burnham
(c) Michael Milken
(d) Fred Joseph

5. What was the purpose of Fred Joseph's meeting at the Barbizon Plaza in New York?
(a) pirating talent from some of the biggest firms on Wall Street
(b) consideration of all ideas, even the far-out and the flamboyant, instead of the conservative
(c) gathering inside information to take back to Los Angeles
(d) to undermine Milken and take over control of the Department

Short Answer Questions

1. What was Ichan able to do after he got a seat on the board of Tappan?

2. What did the Milken Group do in 1983?

3. What is RICO?

4. What two large companies did Drexel underwrite bond issues for in a ten-day period?

5. Why did Drexel remain a privately-held company?

Short Essay Questions

1. What was capturing Milken's interest in 1977?

2. Explain why Drexel did not become a publicly-traded company?

3. How did Milken begin building his fortune?

4. Explain the beginnings of blind pools arranged by Milken.

5. Why was Milken not employed by some of the biggest Wall Street firms?

6. Write about the relationship between Milken and Steve Wynn of the gambling industry.

7. Describe how Michael Milken is introduced in the book.

8. How did they get around the SEC bond registration rules?

9. What was Milken's greatest contribution to the Drexel firm when he was a part-time employee?

10. How did Milken and Joseph create diversification for high-yield funds?

(see the answer keys)

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