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

Multiple Choice Questions

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

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

3. What is affected the most by timing on Wall Street?
(a) Small trades.
(b) Large trades.
(c) Index funds.
(d) Bonds.

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

5. What do customers at a bucket shop do?
(a) Buy stock.
(b) Buy feed buckets.
(c) Bet on a stock going up or down.
(d) Play the lottery.

Short Answer Questions

1. What does Livingston say when someone asks him for a tip?

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

3. Why does Livingston want to sell Union Pacific?

4. What does Livingston notice not long after selling off his Union Pacific stock?

5. Who does the president of the Stock Exchange and the wealthiest bank go to see?

(see the answer key)

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