2. When is a good time to sell a stock?
(a) When it reaches its top price.
(b) When the price is rising.
(c) When it is dropping.
(d) When others are selling.

3. Who does Livingston say is complicit in insiders' manipulations?
(a) Most brokerage firms.
(b) Stock manipulators.
(c) The press.
(d) Companies on the exchange.

4. Of whom does Livingston make fun?
(a) Commodity traders.
(b) Brokage firms.
(c) Traders and the public looking for tips.
(d) The press.

5. Why does Livingston declare bankruptcy?
(a) To get rid of two persistent creditors.
(b) To gain money for a stake.
(c) To clear his record off.
(d) To be able to retire.

6. When Livingston is looking at the price of Tropical Trading what is the market doing?
(a) Going down.
(b) Staying the same.
(c) Going up.
(d) Fluctuating wildly.

7. Why does Livingston say that after 25 years playing the market, it has become more difficult?
(a) The stocks have become too expensive.
(b) Too many new laws.
(c) There are too many brokers.
(d) There's been a large increase in the number of stocks.

8. What is a broker letter?
(a) Letter sent to clients advising them to buy or sell a stock.
(b) Letter from clients to brokers.
(c) Letter from insiders to traders.
(d) Letter from brokers to agents.

9. What is one of the main problems of people paying you to do something on the market?
(a) Getting bored.
(b) Getting arrested.
(c) Buying or selling at a good price.
(d) Making less money.

10. To what does Livingston attribute his success?
(a) Objectively watching stocks.
(b) Being in the right place at the wrong time.
(c) Being willing to lose lots of money.
(d) Having a lot of friends.

11. What does Livingston say is the most important thing?
(a) Have a general strategy and stick with it.
(b) Be prepared to hold stocks for years.
(c) Follow your hunches.
(d) Be prepared to lose money.

12. What mistake was made with Consolidated Stove's initial public offering?
(a) Didn't listen to Livinston's advice.
(b) Flooded the market with too much stock.
(c) Timed the IPP for a down market.
(d) Didn't issue enough stock for the demand.

13. What does Livingston think the purpose of split stocks is?
(a) To make people think the company is doing bad.
(b) To make people think the company is doing well.
(c) To sell the spilt stocks a higher price combined than the original stock.
(d) To confuse traders.

14. What does Livingston think one should never feel about the market?
(a) Elation.
(b) Anger.
(c) Confidence.
(d) Depression.

15. What does Livingston say one should do when a stock that's being sold is dropping?
(a) Hold it until it bottoms out and starts back up.
(b) Buy some as it drops to boost the price.
(c) Sell all of it at the same day.
(d) Buy and sell within a half hour of each other.