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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. Why was Revlon attracting raiders?

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

3. Why did Milken hold a mini-Predators' Ball in Tokyo?

4. What did Milken demand from everyone around him?

5. Why was the partner Groupe Bruxelles Lambert S.A. not happy with Drexel and trying to take it over?

Short Essay Questions

1. How and why did Milken avoid personal publicity?

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

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

4. How was favoritism shown at Drexel?

5. What were some of Perelman's activities after acquiring Revlon?

6. Before Revlon, what had been Perelman's biggest success?

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

8. How did Milken disagree with the idea that liquidity was scarce?

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

10. How did political connections aid Drexel?

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 an essay about social networking. Using Milken as an example, write an essay about the importance of having friends who work together to the benefit of everyone in the network. Apply the principle to your own life.

Essay Topic 3

Write an essay about how it is possible for one to achieve dreams by hard work and study. Use Michael Milken as an example of coming up from not being able to get a job with a major Wall Street investment firm to having his picture on the cover of financial magazines. Do not include his downfall as that is the subject for another essay.

(see the answer keys)

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