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

Multiple Choice Questions

1. On a rising market what should each trade be?
(a) The same as the last one.
(b) Higher than the last one.
(c) Lower than the last one.
(d) The average of all trades.

2. What does Livingston do when the alternate exchanges start to try and manipulate him?
(a) He calls the police.
(b) He buys the exchange.
(c) He quits and goes to New York.
(d) He starts reverse manipulations.

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

4. What don't the new bucket shops in Boston allow?
(a) Betting on commodoties.
(b) Betting on only one stock.
(c) Large trades.
(d) More than two people to bet at a time.

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

Short Answer Questions

1. What does Livingston figure out he has to do to make a lot of money?

2. What did Livingston do about individual stocks?

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

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

5. Who convinces Livingston that Union Pacific is manipulating him?

(see the answer key)

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