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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 is sometimes the result of an LBO?

2. Where did Milken and his wife buy a house?

3. What are REITs?

4. Why did Drexel have to separate from J. P. Morgan?

5. With whom was the firm of Drexel Burnham Lambert identified by the late 1970s?

Short Essay Questions

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

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

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

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

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

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

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

8. How did Drexel go about creating the Air Fund in an effort to get into M&A?

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

10. What happened that started the Merger & Acquisition craze in the late 1970s and early 1980s?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Write an essay about the importance of education for success in the business world. In the essay discuss how the idea is wrong that only a degree from certain universities is important. Besides Milken, list people who have become successful after graduating from lesser known universities.

Essay Topic 2

Write a paper on some of the most interesting things you learned about the bond market from reading The Predators' Ball. In your paper explain whether what you learned makes you want to learn more about investing and why.

Essay Topic 3

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.

(see the answer keys)

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