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

Multiple Choice Questions

1. How much money did Livingston make on the Union Pacific sell off?
(a) $100,000.
(b) $150,000.
(c) $250,000.
(d) $75,000.

2. What does experience give a successful stock trader?
(a) A job.
(b) Friends.
(c) Respect.
(d) Learning.

3. What is one trait Livingston says a successful stock trader must have?
(a) Ability to spend money.
(b) Ability to make friends.
(c) Confidence.
(d) Control of emotions.

4. How does Livingston play on the market when he returns from St. Louis?
(a) Cautiously.
(b) Frantically.
(c) Carelessly.
(d) Confidently.

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

Short Answer Questions

1. What does the phrase "go short" mean?

2. Why does Livingston keep losing money on stocks?

3. Why can bets be carefully timed in bucket shops?

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

5. What is affected the most by timing on Wall Street?

(see the answer key)

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