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

Multiple Choice Questions

1. What is an important aspect of trading successfully?
(a) Having patience and waiting for the right moment.
(b) Being willing to bet on even odds.
(c) Having enough money.
(d) Having good advice.

2. When can one only sell stock?
(a) When your manager authorizes the sell.
(b) When the company is stable.
(c) When the stock is worth more than paid for.
(d) When there's a willing buyer.

3. What does Livingston notice not long after selling off his Union Pacific stock?
(a) The stock falls even farther.
(b) The company folds.
(c) The company expands.
(d) The stock begins rising.

4. What type of time is the trading at a bucket shop?
(a) Several weeks.
(b) Short term.
(c) Over a lifetime.
(d) Long term.

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

Short Answer Questions

1. What is one trait Livingston says a successful stock trader must have?

2. What does Livingston do after he sold all the stock in Union Pacific and after the earthquake?

3. What does Livingston complain about Wall Street?

4. What don't the new bucket shops in Boston allow?

5. What does Union Pacific announce that dismays Livingston?

(see the answer key)

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