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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter XI.

Multiple Choice Questions

1. What does Livingston say to do with anything showing a loss?
(a) Sell it after it moves in either direction.
(b) Buy more of it.
(c) Sell it immediately.
(d) Hold it until it goes up.

2. What don't the new bucket shops in Boston allow?
(a) Betting on only one stock.
(b) Betting on commodoties.
(c) More than two people to bet at a time.
(d) Large trades.

3. When can one only sell stock?
(a) When there's a willing buyer.
(b) When the stock is worth more than paid for.
(c) When the company is stable.
(d) When your manager authorizes the sell.

4. How old was Livingston when he made his first $1000?
(a) 15.
(b) 21.
(c) 19.
(d) 17.

5. What does Union Pacific announce that dismays Livingston?
(a) A company reorganization.
(b) Plans for new railroads.
(c) A dividend.
(d) Bankruptcy filings.

Short Answer Questions

1. What did Livingston do about individual stocks?

2. What has he regretted ignoring in the past?

3. What does Livingston notice not long after selling off his Union Pacific stock?

4. How are the quotes for stocks disseminated?

5. Why does it take Livingston so long to understand how to trade?

(see the answer key)

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