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This quiz consists of 5 multiple choice and 5 short answer questions through Part 3: Chapter 15, Boesky Day.

Multiple Choice Questions

1. What did Milken's involvement in this business do for him personally?
(a) He finally gained respect from Burnham.
(b) He married a movie star.
(c) He became very wealthy.
(d) He was finally able to take the train.

2. Why did Drexel become the target of both an SEC and federal grand jury investigations?
(a) Milken and Drexel had underwritten quite a bit of Boesky debt.
(b) Milken and Drexel began making off-shore deposits.
(c) Milken and Drexel immediately hired high powered lawyers.
(d) Milken and Drexel refused to cooperate with the investigation.

3. What was Fred Joseph's strategy for hiring employees for Drexel?
(a) overhiring to learn which are the ones to keep
(b) paying higher commissions than anyone else
(c) getting recommendations from bigger firms
(d) hiring from the smaller firms so that they saw it as a step up

4. What did Milken want at work?
(a) distance between him and the powers that be at Drexel
(b) fancy titles and gold letterhead
(c) his photo in the annual report
(d) to run the Drexel firm

5. Who was Dr. Feelgood of Drexel?
(a) Tubby Burnham
(b) Michael Milken
(c) Lowell Milken
(d) Fred Joseph

Short Answer Questions

1. How did bondholders often operate in noncompliance with SEC rules?

2. What was Drexel able to do that made it so successful?

3. What was Ichan able to do after he got a seat on the board of Tappan?

4. What did Milken do for people who had worked with him?

5. What is it called when a firm decides to commit its own capital toward a takeover?

(see the answer key)

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