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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 Kansa and Clarendon both have that Wedvick needed?

2. How was Drexel being spoken of after the success of so many hostile takeovers?

3. What is it called when one investor holds stock for another investor and thus conceals the identity of the owner?

4. Who was James Grant?

5. How did Drexel get around the law and continue the takeovers?

Short Essay Questions

1. How and why did Milken avoid personal publicity?

2. Describe the attempts to prevent Perelman's acquisition of Revlon.

3. How was favoritism shown at Drexel?

4. What were some of the detractors of LTOs saying about the practice in the 1980s?

5. State some of the details about Milken's being investigated for insider trading.

6. Describe the reason for Wedvick's problems with Atlantic Capital.

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

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

9. How was Drexel involved in the Ivan Boesky charges?

10. Describe Milken's goals for the Asian markets.

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Write an essay on the value of competition. Using the meteoric rise of Drexel in the junk bond business, note how the competition attempted to imitate its success. In your paper, discuss how competition leads to greater achievements and better products.

Essay Topic 2

Write a paper on inflation. Begin with a definition of inflation and create an example showing how it affects everyone and causes large scale economic hardships. Be creative with your imaginary example.

Essay Topic 3

Write an essay on racial and religious discrimination. Using Milken's problems in his early years because he was Jewish, express your opinion about how discrimination overlooks individual value by blanket bias against whole groups of people.

(see the answer keys)

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