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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Andrew Carnegie's last bond financing sale comes in July, _______ when he sells $6 million in bonds to Sulzbach Brothers, who buy bonds reluctantly, with Carnegie's encouragement.
(a) 1902.
(b) 1882.
(c) 1872.
(d) 1892.

2. The triumvirate agrees to sell at once for what reason?
(a) It is the most logical plan.
(b) There are no better offers.
(c) Since it has no dollar investment in the transaction.
(d) They want to get rid of shares.

3. Although Andrew dislikes the tedium, smells and hours, he works in another textile mill until what?
(a) He gets promoted to a management position.
(b) He gets injured.
(c) He gets an office opportunity in accounting.
(d) He gets a college scholarship.

4. Success is due to the first president, ________________, and the superintendent of the western division, Tom Scott, who brings Andrew Carnegie into the modern system of train control.
(a) J. Edgar Thomson.
(b) J. Edgar Hoover.
(c) J. Edgar Smith.
(d) J. Edgar Johnson.

5. Why does Pullman gives Carnegie enough Pennsylvania stock to collateralize a $600,000 loan?
(a) He needs money.
(b) He trusts Carnegie.
(c) He is ignorant of this poor decision.
(d) He believes it is one of his best ideas.

6. Carnegie meets railroad's ____________ and initiates control of division operations when needed.
(a) Customers.
(b) Managers.
(c) Critics.
(d) Executives.

7. He forms an informal investing ____________ with Thomson and Scott.
(a) Quadrumvirate.
(b) Triumvirate.
(c) Duumvirate.
(d) Quintumvirate.

8. Coleman wants to raise the price of oil by doing what?
(a) Raising his workers' salaries.
(b) Raising the cost of shipping.
(c) Hoarding supply.
(d) Raising his own salary.

9. He leaves his Pittsburgh home and iron business to live in what city?
(a) Los Angeles.
(b) New York City.
(c) Boston.
(d) Detroit.

10. Thirteen year-old Andrew sees his father fail while admiring whose determination to rise above it?
(a) His uncle's.
(b) His aunt's.
(c) His brother's.
(d) His mother's.

11. Their town is at one time known as the most radical in the kingdom, as a result of the influence of ______________ who demand concessions from Parliament, primarily political equality.
(a) World Socialist Movement.
(b) The Committee for a Workers' International.
(c) GRAPO.
(d) The Chartists.

12. Carnegie presents the bonds to the Morgan investment banking house in London in March, 1869, where he sells them to Morgan at what percent?
(a) 75.
(b) 55.
(c) 65.
(d) 85.

13. James L. Shaw of the Pacific and Atlantic Telegraph Company offers to buy how many shares of Keystone at three times its value, or $150,000?
(a) Ten thousand.
(b) One hundred thousand.
(c) One thousand.
(d) One million.

14. Railroads need huge amounts of what to construct track and more as they expand?
(a) Capital.
(b) Equipment.
(c) Technological understanding.
(d) Trust.

15. Who is Cuban Roberto Goizuetta?
(a) The deceased president of Liz Claiborne.
(b) The deceased chairman of Applebee's.
(c) The deceased CEO of Intel.
(d) The deceased chairman of Coca-Cola.

Short Answer Questions

1. It is _______________ private business firm in the world and is called "the standard railroad of the world."

2. A typical pattern in the ____________ century is that a community builds up around a few pioneers who leave their homeland and then encourage friends and relatives to join them.

3. Carnegie's first dividend check for ________ opens a whole new world of receiving cash from capital.

4. With whom does Carnegie form Columbia Oil Company?

5. Carnegie and his triumvirate get a franchise from Pennsylvania Railroad with the benefits of existing poles and franchising from Trenton through to what?

(see the answer keys)

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