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

Multiple Choice Questions

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

2. What does Livingston conclude when Union Pacific announces a dividend?
(a) He had read the insiders correctly.
(b) The company is poorly run.
(c) The stock is worthless.
(d) They are borrowing money from somewhere.

3. According to Livingston why should no one trade every day?
(a) It is too tiring.
(b) The excitement leads to mistakes.
(c) It cost too much money.
(d) It's not good for the soul.

4. Why does Livingston take his profit out so fast?
(a) He has a problem with cash flow.
(b) He has to support his family.
(c) He fears reversal.
(d) He needs the money.

5. Where does Livingston go when he leaves Boston?
(a) New York.
(b) Pittsburgh.
(c) Washington D.C.
(d) Florida.

Short Answer Questions

1. What is an important aspect of trading successfully?

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

3. What does Livingston do after he sold all the stock in Union Pacific and after the earthquake?

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

5. Where does Livingston get his money to start to recoup his losses?

(see the answer key)

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