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

Multiple Choice Questions

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

2. What has happened to Percy recently in the market?
(a) He caused the market to go into a slide.
(b) He made millions.
(c) He lost millions.
(d) He had withdrawn from the market.

3. How does he consider commodities in comparison to stocks?
(a) They are the poor man's stock.
(b) Less complex maneuvers around them.
(c) They can be too volatile.
(d) Make less money on them.

4. What does Livingston think is his best guide to trading?
(a) The Fortune 500.
(b) Himself.
(c) Standard and Poor's index of stock.
(d) What happens in Washington D.C.

5. What does Livingston decide from the Union Pacific situation?
(a) To practice understanding insider actions.
(b) To listen more carefully to his manager.
(c) To only trust himself.
(d) To go back to school to learn more.

Short Answer Questions

1. Why does Livingston meet with Percy Thomas?

2. Why did Livingston refuse the offer of partnership with Percy?

3. Why does Livingston say traders are often vilified in the press and by other traders?

4. To what does Livingston attribute his success?

5. Why should a trader start with a small trade?

(see the answer key)

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