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

2. Why was the Technicolor acquisition so successful?
(a) selling off parts and putting the profits into the main company
(b) selling it to Kodak at a great profit
(c) acquiring it at a time when movies were reviving
(d) adding R&D to come up with new products

3. What company did Wedvick find with a high investment-grade rating?
(a) Clarendon, a Bermuda based reinsurance company
(b) Drexel
(c) Mutual of Omaha
(d) Standard and Poors

4. Who did Joseph hire with a three-year contract calling for $3 million per year plus extras?
(a) Dennis Levine
(b) Martin Siegel
(c) Robert Salsbury
(d) Antonio Gebauer

5. On May 12, 1986, who was charged with insider trading and agreed to cooperate with the government?
(a) Dennis Levine
(b) Lowell Milken
(c) Car Icahn
(d) Fred Joseph

Short Answer Questions

1. What often benefited Drexel in dealing with its clients?

2. What indicated the level of fear at Drexel during the investigations?

3. What happened in April of 1987 while the investigation of Milken and Drexel was proceeding?

4. What happened to the plan for moving to the Seven World Trade Center?

5. What was beginning to happen during this time?

Short Essay Questions

1. What were the results of the ongoing investigations of Drexel and Milken?

2. Why did Sanford Sigoloff switch from Salomon Brothers to Drexel when he was acquiring Wickes?

3. How was fear affecting Drexel during the investigations?

4. What was James Grant's position on where things would eventually lead in the credit cycle?

5. Tell something of the anticipation associated with SEC and FBI investigations into Drexel and Milken.

6. How and why did Milken avoid personal publicity?

7. How did Peer Wedvick satisfy his need for an institution with a high investment-grade rating?

8. How was favoritism shown at Drexel?

9. What was Ronald Perelman's purpose for acquiring Pantry Pride?

10. How did Milken's power in the industry benefit Drexel?

(see the answer keys)

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