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This quiz consists of 5 multiple choice and 5 short answer questions through Part 1: Chapter 6, The Air Fund.

Multiple Choice Questions

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

2. What government regulation made it easier for multiple mergers in the 1980s?
(a) a relaxation of antitrust restrictions
(b) cuts in the minimum wage
(c) gauranteed loans for mergers
(d) deregulation of banks

3. Who becomes Milken's ally and public face in 1974?
(a) Tubby Burnham
(b) Cary Grant
(c) Khun Loeb
(d) Fred Joseph

4. What was HITS?
(a) High Interest Tax Service
(b) Hard Investment Trade Secrets
(c) a high yield mutual fund that Drexel formed
(d) a government investigation agency

5. Why did Milken's people say they performed so well?
(a) because they learned from the King
(b) because they had to get up so early
(c) because they were maing so much money
(d) because he would accept nothing less

Short Answer Questions

1. What influenced Milken to become interested in low grade bond portfolios?

2. What did Milken offer this market segment?

3. Why did Drexel remain a privately-held company?

4. What kind of business did Milken's Belvedere Securities do?

5. What was the Wall Street attitude toward low grade bonds at the time Milken started trading in them?

(see the answer key)

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