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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter XIV.

Multiple Choice Questions

1. What must a successful stock trader do?
(a) Work for a brokage firm.
(b) Borrow money.
(c) Make the actual trade.
(d) Play poker.

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

3. 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.

4. What does Livingston decide from the Union Pacific situation?
(a) To practice understanding insider actions.
(b) To go back to school to learn more.
(c) To listen more carefully to his manager.
(d) To only trust himself.

5. Why does Livingston want to sell Union Pacific?
(a) He has a strong hunch.
(b) He never travels by train.
(c) He doesn't like the owner.
(d) They've been going down.

Short Answer Questions

1. What happens shortly after he starts selling Union Pacific stock by the thousands?

2. What does Livingston say one must be in order to be a good trader?

3. What has he regretted ignoring in the past?

4. How useful is bucket shop technique on Wall Street?

5. How does Livingston play on the market when he returns from St. Louis?

(see the answer key)

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