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

Multiple Choice Questions

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

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

3. On a rising market what should each trade be?
(a) Higher than the last one.
(b) Lower than the last one.
(c) The average of all trades.
(d) The same as the last one.

4. Why should a trader start with a small trade?
(a) To see if it's going in the right direction.
(b) So he'll lose less money.
(c) To find out if the stock is viable.
(d) To see what others are doing.

5. What is happening to wheat prices when Livingston is trading it?
(a) It's declining.
(b) It's going up.
(c) It's staying the same.
(d) It's moving up and down everyday.

Short Answer Questions

1. How does Livingston feel about the amount of money he's making?

2. What must a successful stock trader do?

3. What should one decide to do in order to make money?

4. The price on the stocks in bucket shops is in what according to time?

5. What don't the new bucket shops in Boston allow?

(see the answer key)

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