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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. How did Milken's unit function within the larger firm?

2. What did the 1985 President's Council of Economic Advisers report on the issue of M&A conclude?

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

4. What did Drexel think about the Japanese acceptance of junk bonds used in takeovers?

5. How did Perelman acquire Technicolor?

Short Essay Questions

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

2. Why were other investment firms not as successful as Drexel?

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

4. What was Ronald Perelman's purpose for acquiring Pantry Pride?

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

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

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

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

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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.

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

Write an essay on the importance of ethics in business. Discuss how the practice of secrecy leads to unethical behavior. In the essay discuss business and government transparency as a necessary ingredient in ethical behavior. Bring it down to a personal level where people refrain from doing bad things because others will know about it.

(see the answer keys)

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