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This quiz consists of 5 multiple choice and 5 short answer questions through Part 3: Chapter 14, Sovereign Privileges.

Multiple Choice Questions

1. When did Drexel begin dealing based on insider information?
(a) When the Phillips Petroleum deal got underway.
(b) When they began backing OLTs.
(c) When Milken hooked up with Carl Ichan.
(d) When Milken financed Ivan Boesky.

2. Why did Milken take the bus from New Jersey to Wall Street?
(a) to avoid talking to Wall Street people
(b) because he could not afford the train
(c) because he did not drive a car
(d) because he liked the people on the bus

3. What is RICO?
(a) Reporting Interest In Company
(b) The Bank of Brazil
(c) Racketeer Influenced Corrupt Organizations Act
(d) Mexican Stock Exchange

4. Who paid $2-billion for the Metromedia television stations and their assets?
(a) Rupert Murdock
(b) Ted Turner
(c) Time-Warner
(d) Bill Gates

5. What became the craze on Wall Street in 1986?
(a) something called collective bargaining
(b) something called merchant banking
(c) something called equity sharing
(d) something called investment underwriting

Short Answer Questions

1. Who moved to Los Angeles with Milken?

2. By 1983, what was the worth of Drexel's junk bond business?

3. Who did Joseph hire with a three-year contract calling for $3 million per year plus extras?

4. Why were Milken's imitators not as successful as he was?

5. What was another company Wedvick used in his investment scheme?

(see the answer key)

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