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

Multiple Choice Questions

1. What does Livingston hear about a well known cotton trader?
(a) He has quit the business.
(b) He has made 2 million dollars.
(c) He has taken a huge loss.
(d) He has switched to soy beans.

2. What do some people claim about a newspaper article that helped Livingston?
(a) He engineered it.
(b) His brother wrote it.
(c) His wife wrote it.
(d) The newspaper interviewed him for it.

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

4. Why does Livingston declare bankruptcy?
(a) To gain money for a stake.
(b) To get rid of two persistent creditors.
(c) To clear his record off.
(d) To be able to retire.

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

Short Answer Questions

1. What do the small shops agree Livingston can do?

2. What must a successful stock trader do?

3. How does he say one trader made money?

4. When does a trader err when trading?

5. What does Livingston say cornering a market can do to a price?

(see the answer key)

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