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

Multiple Choice Questions

1. Under what authority are bucket shops allowed?
(a) Thet are established by New York State government.
(b) The NYSE authorizes them.
(c) The local constable signs the permit.
(d) They are not legal.

2. How does he start out selling Union Pacific?
(a) All at once.
(b) He talks to the brokage manager.
(c) Slowly at first.
(d) Shares every other week.

3. Why does Livingston say traders are often vilified in the press and by other traders?
(a) When they make too much money.
(b) When they hold onto food crops.
(c) When they sell short and the price drops.
(d) When they corner a market.

4. Why is Livingston frustrated when he leaves Williamson's?
(a) He had to pay Williamson too much interest.
(b) The market is no longer good for making money.
(c) He has no money yet again.
(d) The market is going bull.

5. What does Livingston think is his best guide to trading?
(a) The Fortune 500.
(b) Himself.
(c) Standard and Poor's index of stock.
(d) What happens in Washington D.C.

Short Answer Questions

1. What does Percy believe about the cotton market?

2. What does Livingston complain about Wall Street?

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

4. Why does Livingston declare bankruptcy?

5. How much money does Livingston make when he first comes back from St. Louis?

(see the answer key)

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