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

Edwin Lefèvre
This set of Lesson Plans consists of approximately 135 pages of tests, essay questions, lessons, and other teaching materials.
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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Why can bets be carefully timed in bucket shops?
(a) It's carefully controlled by the government.
(b) There's only three stocks involved.
(c) They can be bought and sold instantly.
(d) There's less people betting.

2. What does Livingston say will happen in a stock or commodity if a surprise event occurs?
(a) It will always stay the same.
(b) It will move in the direction of the market.
(c) It will always go down.
(d) It will always go up.

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

4. How long does Livingston stay in Boston the second time he goes there?
(a) Two weeks.
(b) A year.
(c) Two years.
(d) Six months.

5. What should one do in a bull market?
(a) Buy stock.
(b) Buy one week, sell the next.
(c) Stick with index funds.
(d) Wait and see.

6. After Livingston gets used to Wall Street, how much does he reach at one point in the early part of his career?
(a) $50,000.
(b) A million dollars.
(c) $155000.
(d) $10,000.

7. How much money does Livingston have when he goes to Wall Street?
(a) $10,000.
(b) $4500.
(c) $5000.
(d) $2500.

8. Who convinces Livingston that Union Pacific is manipulating him?
(a) His best friend.
(b) His wife.
(c) His mentor.
(d) The branch manager.

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

10. What happens when one places an order on Wall Street time wise?
(a) It's never implemented for 24 hours.
(b) There is a short lag.
(c) It is done instantly.
(d) The SCCI has to check it first.

11. Why is Livingston so good at betting?
(a) He uses only the simple stocks.
(b) He is clairvoyant.
(c) He can remember the patterns.
(d) He has a good poker face.

12. What should one decide to do in order to make money?
(a) Hold on to the stock until it starts to drop.
(b) Sell when you need money.
(c) Stay in for the long haul.
(d) Let a financial advisor handle your deals.

13. What is happening to wheat prices when Livingston is trading it?
(a) It's going up.
(b) It's moving up and down everyday.
(c) It's declining.
(d) It's staying the same.

14. What does Livingston do after he sold all the stock in Union Pacific and after the earthquake?
(a) Started buying Union Pacific again.
(b) Went into commodoties.
(c) Bought a lot of mutual funds.
(d) Went into index funds.

15. Who does the president of the Stock Exchange and the wealthiest bank go to see?
(a) J. P. Morgan.
(b) The Railroad Union President.
(c) John Rockefellow.
(d) The President of America.

Short Answer Questions

1. Why did Livingston stop in New Haven on his way to New York?

2. The price on the stocks in bucket shops is in what according to time?

3. What do the small shops agree Livingston can do?

4. What happens to Livingston when someone buys up all the corn?

5. What does Livingston do when the alternate exchanges start to try and manipulate him?

(see the answer keys)

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