Reminiscences of a Stock Operator Test | Mid-Book Test - Easy

Edwin Lefèvre
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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Where does Livingston go with his $500?
(a) To Boston.
(b) To Atlanta.
(c) To Dallas.
(d) To St. Louis.

2. What's the difference between working on the stock exchange and the bucket shops?
(a) In bucket shops you only bet on a stock; in Wall Street you buy it.
(b) Wall Street requires you to wear a suit and tie.
(c) Bucket shops require more money.
(d) Bucket shops are run by the mob.

3. What did Livingston do about individual stocks?
(a) Made charts of their ups.
(b) Followed them carefully.
(c) Paid absolutely no attention to them.
(d) Stopped focusing on them.

4. What has he regretted ignoring in the past?
(a) Not liking a company.
(b) His mentor's advice.
(c) Stocks going down.
(d) Strong hunches.

5. How does Livingston play on the market when he returns from St. Louis?
(a) Frantically.
(b) Cautiously.
(c) Carelessly.
(d) Confidently.

6. How much money did Livingston make on the Union Pacific sell off?
(a) $250,000.
(b) $100,000.
(c) $75,000.
(d) $150,000.

7. How does Livingston feel about the amount of money he's making?
(a) It's not what he expected.
(b) He's indifferent, he just likes to play the market.
(c) It's very good.
(d) It's lousy.

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

9. Why doesn't Livingston learn the new techniques for betting on Wall Street?
(a) He doesn't read well.
(b) He has a night job.
(c) He makes enough to live on.
(d) He has to study harder.

10. What does Livingston do after receiving advice from his manager?
(a) Sells the rest of his Union Pacific stock.
(b) Buys stock in oil.
(c) Buys wheat.
(d) Sells all of his corn.

11. What does experience give a successful stock trader?
(a) A job.
(b) Respect.
(c) Friends.
(d) Learning.

12. What does Livingston say is impossible to catch?
(a) A stock just being offered.
(b) Two stocks related moving in different directions.
(c) Tiny fluctuations of the market.
(d) A stock on the rise.

13. Why does Livingston take his profit out so fast?
(a) He has a problem with cash flow.
(b) He fears reversal.
(c) He needs the money.
(d) He has to support his family.

14. When is there a financial panic in 1907?
(a) October.
(b) June.
(c) August.
(d) April.

15. The price on the stocks in bucket shops is in what according to time?
(a) Several hours old.
(b) Real time.
(c) Two days old.
(d) Elasped time.

Short Answer Questions

1. How much money does Livingston have when he goes to Wall Street?

2. What does Livingston want to do when he sees the market rallying?

3. How does he start out selling Union Pacific?

4. What does Livingston believe about the cotton market when he and Percy are discussing it?

5. What does Livingston conclude when Union Pacific announces a dividend?

(see the answer keys)

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