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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 finally begin to study?
(a) Bond and index funds.
(b) Longer-term stock movements.
(c) Mutual funds.
(d) Trading on margin and call.

2. What does Livingston say is the most important thing?
(a) Follow your hunches.
(b) Be prepared to hold stocks for years.
(c) Be prepared to lose money.
(d) Have a general strategy and stick with it.

3. What does Livingston say will happen in a stock or commodity if a surprise event occurs?
(a) It will move in the direction of the market.
(b) It will always stay the same.
(c) It will always go up.
(d) It will always go down.

4. How does Livingston portray himself to the small exchanges?
(a) Someone who is very knowledgeable.
(b) Someone who has lost a lot of money on Wall Street.
(c) Someone who is very, very wealthy.
(d) Someone who has never thought about stocks.

5. Under what condition does David Williamson offer Livingston a stake?
(a) That he pay it back double.
(b) That he pay 5% interest.
(c) That he remember the firm when dealing.
(d) That he open an account with them.

Short Answer Questions

1. What must a successful stock trader do?

2. What does Livingston do to prevent being broke again?

3. What does Livingston say is impossible to catch?

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

5. What has he regretted ignoring in the past?

(see the answer key)

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