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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. Where did most of the money come from when Icahn actually acquired ACF, a railroad car leasing company?
(a) Ichan sold all of his Milken junk bonds.
(b) Much of the purchase price came from the sale of some of the company's divisions.
(c) Milken financed much of the price.
(d) Ichan got the money from his uncle.

2. What was the goal of Nelson Peltz?
(a) to be a part of the Hollywood scene
(b) to corner the Los Angeles real estate market
(c) to compete with Milken
(d) to get into the airline business

3. How did bondholders often operate in noncompliance with SEC rules?
(a) overstating the values of bonds
(b) selling bonds before they were registered
(c) not declaring income from bond sales
(d) secrecy in the bond market

4. Who informed the SEC that he was attempting to gain control of Triagle Acquisition Corporation?
(a) Oscar Wyatt
(b) Mike Milken
(c) Nelson Peltz
(d) Gerald Guterman

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

Short Answer Questions

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

2. What was the advantage FIFI and other like funds offer?

3. What is it called when a firm decides to commit its own capital toward a takeover?

4. Why did Posner back out of the National Can deal?

5. What is sometimes the result of an LBO?

Short Essay Questions

1. What were some complications of the move to Century city for Drexel?

2. Why did Thomas Spiegel come under investigation by the FHLBB?

3. Discuss Carl Icahn's expertise in proxy fights.

4. How did Marshall Field attempt to fight Carl Icahn?

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

6. Explain why Milken was the main subject of the Barbizon Plaza meeting.

7. How did Fred Joseph begin his goal of making Drexel a top notch firm in fifteen years?

8. Who was Carl Icahn and how did he get into the hostile takeover business?

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

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

(see the answer keys)

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