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

Multiple Choice Questions

1. Why is it harder for alternate exchanges to get rid of a customer?
(a) They are very poor.
(b) They are regulated by the government.
(c) They have a reputation to uphold.
(d) They sign contracts that can't be broken.

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

3. What does Livingston do with his predictions at first?
(a) He records them.
(b) He changes them then shows them to others.
(c) He shows them to others.
(d) He only bets a little.

4. What does Livingston want to do when he sees the market rallying?
(a) Switch to bonds.
(b) Buy a lot of stock.
(c) Prove it's only temporary.
(d) Not do anything.

5. What should one do in a bull market?
(a) Stick with index funds.
(b) Buy one week, sell the next.
(c) Wait and see.
(d) Buy stock.

Short Answer Questions

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

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

3. What does Livingston think is his best guide to trading?

4. What is one trait Livingston says a successful stock trader must have?

5. What kind of trading is done at a bucket shop?

(see the answer key)

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