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

Multiple Choice Questions

1. Why is it harder for alternate exchanges to get rid of a customer?
(a) They are very poor.
(b) They are regulated by the government.
(c) They have a reputation to uphold.
(d) They sign contracts that can't be broken.

2. What does Livingston do at several small alternate exchanges?
(a) Establish accounts.
(b) Lose a lot of money.
(c) Let Roberts handle everything.
(d) Get kicked out.

3. How much money does Livingston make when he first comes back from St. Louis?
(a) He loses money.
(b) He makes a moderate amount of money.
(c) He gains slowly, but steadily.
(d) He makes a huge amount of money.

4. What must a successful stock trader do?
(a) Play poker.
(b) Borrow money.
(c) Work for a brokage firm.
(d) Make the actual trade.

5. Why is Livingston so good at betting?
(a) He is clairvoyant.
(b) He uses only the simple stocks.
(c) He can remember the patterns.
(d) He has a good poker face.

Short Answer Questions

1. What's the difference between working on the stock exchange and the bucket shops?

2. What is Livingston's job at a bucket shop?

3. What does Roberts suggest to Livingston?

4. Why doesn't Livingston learn the new techniques for betting on Wall Street?

5. How old was Livingston when he made his first $1000?

(see the answer key)

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