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

Multiple Choice Questions

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

2. What happens when the market falls steeply in 1906?
(a) There is a depression.
(b) It earns Livingston and his house a lot of money.
(c) The government takes over the market.
(d) The banks collapse.

3. Who convinces Livingston that Union Pacific is manipulating him?
(a) His best friend.
(b) His mentor.
(c) The branch manager.
(d) His wife.

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

5. How do some smaller exchanges double their money?
(a) Getting different customers to buy and sell at the same time.
(b) Allowing margin play.
(c) Switching prices at the last minute.
(d) Taking out too much taxes.

Short Answer Questions

1. What does Livingston discuss at the beginning of this chapter about stocks?

2. What does it take to be one of the best traders?

3. What can a trader do by applying rules to a pattern?

4. What happens shortly after he starts selling Union Pacific stock by the thousands?

5. What fascinates the young Livingston?

(see the answer key)

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