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

Multiple Choice Questions

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

2. What does Livingston believe about this famous stock manipulator?
(a) That he was a scoundrel.
(b) That he would be successful anytime.
(c) That he should have been arrested.
(d) That he broke the law many times.

3. What does the phrase "go long" mean?
(a) To wait a long time to sell.
(b) To buy stock that's been on the market a long time.
(c) To buy stock.
(d) To sell any stock within 30 days.

4. Why does Livingston say traders are often vilified in the press and by other traders?
(a) When they sell short and the price drops.
(b) When they make too much money.
(c) When they corner a market.
(d) When they hold onto food crops.

5. How does Livingston portray himself to the small exchanges?
(a) Someone who has lost a lot of money on Wall Street.
(b) Someone who is very knowledgeable.
(c) Someone who has never thought about stocks.
(d) Someone who is very, very wealthy.

Short Answer Questions

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

2. How does he say one trader made money?

3. How much money does Livingston have when he goes to Wall Street?

4. How does he start out selling Union Pacific?

5. What happens when the market falls steeply in 1906?

(see the answer key)

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