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This quiz consists of 5 multiple choice and 5 short answer questions through Part 1: Chapter 5, The Cloister at Wilshire and Rodeo.

Multiple Choice Questions

1. What was Milken's problem with back office people at Drexel?
(a) He was less educated than they were.
(b) He did not understand their work.
(c) He could not communicate with them.
(d) He did not work well with Jewish people.

2. Why did the new Drexel Burnham company give Milken a $2 million position?
(a) Milken would be the token Jew.
(b) Milken was thinking of leaving.
(c) Milken hid evidence from the SEC.
(d) Milken ochestrated the merger of Drexel and Burnham.

3. By 1986, who was the largest stockholder in Drexel Burnham Lambert?
(a) the Milken Family Trust
(b) Grace Milken
(c) Michael Milken
(d) Lowell Milken

4. What are REITs?
(a) really extended investment trials
(b) raw energy investment tables
(c) real estate instruments like mortgages
(d) rare employee investment tallies

5. What kind of business did Milken's Belvedere Securities do?
(a) traded business secrets learned in hostile takeovers
(b) traded bonds anonymously for clients of Drexel
(c) traded new lamps for old in a manner of speaking
(d) traded the body of the bond separate from its coupons

Short Answer Questions

1. What did Milken and Joseph devise to keep business flowing during the recession?

2. What was the advantage FIFI and other like funds offer?

3. What was the purpose of Fred Joseph's meeting at the Barbizon Plaza in New York?

4. What was the address of the new building in L. A.?

5. How did the firm now have equity stakes in most of the companies that it financed?

(see the answer key)

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