Reminiscences of a Stock Operator Test | Final 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. Who was a famous stock manipulator Livingston mentions?
(a) James R. Keene.
(b) Chester Bollocks.
(c) Rupert W. Hatfield.
(d) Preston N. Roovelt.

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

3. How many people held most of the stock in Consolidated Stove?
(a) Two.
(b) Ten.
(c) Three.
(d) One.

4. Who does Livingston say uses tips to no good ends for their customers?
(a) Financial advisors.
(b) Stock manipulators and promoters.
(c) Retirement funds.
(d) Banks.

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

6. What is one of the forces that can cause a stock spectator's plans to go awry?
(a) Forces inherent in the market.
(b) The trader calling in sick on the best day to sell.
(c) A company collapsing.
(d) The government changing regulations.

7. When was the famous stock manipulator active?
(a) He was active about 25 years before Livingston started.
(b) About 50 years before Livingston was born.
(c) He started working in the middle of Livingston's career.
(d) Early in Livingston's career.

8. How was the company Consolidated Stove formed?
(a) Combining three other companies.
(b) It was just a regular company named Consolidated Stove.
(c) By a hostile take over.
(d) Two companies came together.

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

10. What does Livingston do after the Tropical Trading event?
(a) Becomes a stock operator.
(b) Retires.
(c) Marries.
(d) Goes back to Boston.

11. Under what condition does David Williamson offer Livingston a stake?
(a) That he pay it back double.
(b) That he remember the firm when dealing.
(c) That he open an account with them.
(d) That he pay 5% interest.

12. What happens to Livingston after his dealings with Percy Thomas?
(a) He gets married.
(b) He moves back into oil stock.
(c) He becomes ill.
(d) Nothing happens to him.

13. What does Livingston say is a good method to make a stock look good?
(a) Buy a lot of that stock.
(b) Use inside trading.
(c) Buy and sell rapidly.
(d) Sell most of the stock.

14. Why doesn't Livingston make any money no matter how hard he tries?
(a) He has lost the pattern.
(b) He has lost his enthusiasm.
(c) Market conditions aren't right.
(d) He had to start with too little.

15. What does Livingston suggest is the reason for urges?
(a) Being fearful.
(b) Small warnings.
(c) Human nature.
(d) Being competitive.

Short Answer Questions

1. When Livingston is looking at the price of Tropical Trading what is the market doing?

2. Why does Livingston say that after 25 years playing the market, it has become more difficult?

3. What does Livingston say gives a trader the sense of what to do?

4. What does Livingston do to retaliate against the insiders?

5. Why does Livingston say traders are often vilified in the press and by other traders?

(see the answer keys)

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