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

Multiple Choice Questions

1. What does Livingston do after receiving advice from his manager?
(a) Buys wheat.
(b) Sells the rest of his Union Pacific stock.
(c) Sells all of his corn.
(d) Buys stock in oil.

2. How much money does Livingston make when he first comes back from St. Louis?
(a) He makes a huge amount of money.
(b) He loses money.
(c) He makes a moderate amount of money.
(d) He gains slowly, but steadily.

3. What does Livingston say gives a trader the sense of what to do?
(a) Reading the Wall Street Journal.
(b) Time and training.
(c) Listening to friends.
(d) Feeling it in your gut.

4. What does Livingston do about his concerns in 1906?
(a) Buys long.
(b) Sells short.
(c) Buys short.
(d) Sells long.

5. When should one stay clear of a stock?
(a) Right after it's public offering.
(b) Anytime it goes up.
(c) When it acts erratically.
(d) During the down season for that business.

Short Answer Questions

1. What does experience give a successful stock trader?

2. What is an important aspect of trading successfully?

3. For what does young Livingston have an excellent memory?

4. Why does Livingston take his profit out so fast?

5. How useful is bucket shop technique on Wall Street?

(see the answer key)

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