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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. What did the Milken brothers do probably without notifying Drexel?

2. Why did Drexel Burnham Lambert agree to let Milken move his operation at a cost of millions of dollars?

3. What was a cause of the market crash of 1974?

4. What are REITs?

5. What was the object of gaining control of a company and sell off many of its divisions?

Short Essay Questions

1. How did HITS come about and what was it?

2. Explain why Milken wanted to move his operation to Los Angeles.

3. Explain Milken's relationship with his staff.

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

5. What was the subject of the meeting at the Barbizon Plaza in New York held by Fred Joseph?

6. Tell something about Fred Joseph and how he became known at Drexel.

7. Describe Drexel's part in the National Can hostile takeover.

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

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

10. Explain some of Drexel's problem clients in the early 1980s.

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Do some research and write a paper on how bonds are rated by Standard and Poors. Explain how the ratings reflect the level of risk involved. Give specific examples of high-risk and low-risk bonds.

Essay Topic 2

Write a paper on stock parking. Milken and Drexel were investigated for this practice, but they were not the only ones. Define stock parking and research other instances of charges brought against investor and investment firms for doing this. Be sure to include why a person wanting to gain control of a company might want to use this illegal method.

Essay Topic 3

The name, Predators' Ball, says a great deal about the people who organized the ball and those who clamored for invitations. Write an essay about predators and why this title was so appropriate for the people involved. Give your opinion about how that title expresses disregard for the people who were the victims.

(see the answer keys)

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