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. What do the small shops agree Livingston can do?
(a) Buy on margin.
(b) Buy and sell at the same time.
(c) Trade on the prices quoted.
(d) Open a very large account.

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

3. What happens shortly after he starts selling Union Pacific stock by the thousands?
(a) Nothing happens.
(b) The San Francisco earthquake.
(c) The San Francisco fire.
(d) The San Francisco tidal wave.

4. Why do the bucket shops begin banning Livingston?
(a) He has stolen money.
(b) He wins too much.
(c) He is obnoxious.
(d) He runs other customers away.

5. According to Livingston why should no one trade every day?
(a) It's not good for the soul.
(b) The excitement leads to mistakes.
(c) It is too tiring.
(d) It cost too much money.

6. When should one stay clear of a stock?
(a) Right after it's public offering.
(b) Anytime it goes up.
(c) When it acts erratically.
(d) During the down season for that business.

7. Why is Livingston having a hard time increasing his money?
(a) He keeps losing his bets.
(b) It's a new game he doesn't know.
(c) His name is too well known.
(d) The bucket shops are mostly shut down.

8. How do some smaller exchanges double their money?
(a) Allowing margin play.
(b) Taking out too much taxes.
(c) Switching prices at the last minute.
(d) Getting different customers to buy and sell at the same time.

9. What is Livingston's job at a bucket shop?
(a) Trader.
(b) Stock broker.
(c) Quotation boy.
(d) Runner.

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

11. What does Percy believe about the cotton market?
(a) It's an exciting market.
(b) It's very stable.
(c) It's a bull market.
(d) It's a bear market.

12. What do the banks ask Livingston to not do during the panic of 1907?
(a) Sell commodities.
(b) Buy mutual funds.
(c) Buy any more stock.
(d) Sell any more stock.

13. How does he start out selling Union Pacific?
(a) Slowly at first.
(b) All at once.
(c) Shares every other week.
(d) He talks to the brokage manager.

14. What does Roberts suggest to Livingston?
(a) Smaller, alternate exchanges.
(b) Going back to school.
(c) Betting on corn and wheat.
(d) Opening a bucket shop himself.

15. As the market slides, what signs are showing in other financial institutions?
(a) The FDIC is in the red.
(b) Banks are being affected.
(c) Average wages have dropped.
(d) The government has taken out more bonds.

Short Answer Questions

1. What do some people claim about a newspaper article that helped Livingston?

2. What does Livingston do at several small alternate exchanges?

3. How does Livingston feel about the amount of money he's making?

4. Where does Livingston get his money to start to recoup his losses?

5. Why is corn having a hard time getting to the market?

(see the answer keys)

This section contains 523 words
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