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

Multiple Choice Questions

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

2. When does Livingston hate losing money the most?
(a) When he does everything right.
(b) When another trader manipulates him into the loss.
(c) When he follows someone's tip.
(d) When he needs money for a stake.

3. How much money did Livingston make on the Union Pacific sell off?
(a) $250,000.
(b) $150,000.
(c) $100,000.
(d) $75,000.

4. What does Livingston notice not long after selling off his Union Pacific stock?
(a) The company expands.
(b) The company folds.
(c) The stock falls even farther.
(d) The stock begins rising.

5. What does he think his debts are doing to his trading?
(a) Causing him to be less objective.
(b) Making it impossible to play on a margin.
(c) Making it too hard to borrow money.
(d) Making him too cautious.

Short Answer Questions

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

2. How old was Livingston when he made his first $1000?

3. Where does Livingston go with his $500?

4. What does Livingston decide from the Union Pacific situation?

5. What does Livingston finally begin to study?

(see the answer key)

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