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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 was the subject of debate in the mid 1980s during the M&A onslaught?

2. How were some people able to beat Milken on deals?

3. How did the investigation appear at first?

4. Who paid $2-billion for the Metromedia television stations and their assets?

5. Who made the contact for Wedvick with Kansa?

Short Essay Questions

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

2. How widespread was Milken's competition by the fall of 1986?

3. How did Drexel achieve god-like status with investors?

4. How did political connections aid Drexel?

5. What role did LTV play in identifying a weakness in the junk market?

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

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

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

9. How was favoritism shown at Drexel?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Do some research and write a paper on Michael Milken's philanthropic work since his release from prison. Express if you think he shows a more human side to his personality now.

Essay Topic 2

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 3

Write a paper on junk bonds. Explain "fallen angels" and other types of bonds that Milken saw the potential in. Describe how they are used and why they are classified as "high-yield."

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