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

Multiple Choice Questions

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

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

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

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

5. What does Livingston do after receiving advice from his manager?
(a) Buys wheat.
(b) Buys stock in oil.
(c) Sells all of his corn.
(d) Sells the rest of his Union Pacific stock.

Short Answer Questions

1. Where does Livingston go when he leaves Boston?

2. What did Livingston do about individual stocks?

3. How does Livingston portray himself to the small exchanges?

4. What does the phrase "go long" mean?

5. What does Livingston complain about Wall Street?

(see the answer key)

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