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

Multiple Choice Questions

1. What does Livingston say is a good method to make a stock look good?
(a) Use inside trading.
(b) Buy and sell rapidly.
(c) Sell most of the stock.
(d) Buy a lot of that stock.

2. Why does Livingston want to sell Union Pacific?
(a) He has a strong hunch.
(b) He doesn't like the owner.
(c) He never travels by train.
(d) They've been going down.

3. How does Livingston play on the market when he returns from St. Louis?
(a) Confidently.
(b) Cautiously.
(c) Carelessly.
(d) Frantically.

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

5. What does Livingston say when someone asks him for a tip?
(a) He ignores the person.
(b) He doesn't take or give tips.
(c) Comments on the general run of the market.
(d) He doesn't have time to be bothered.

Short Answer Questions

1. What does Percy believe about the cotton market?

2. How does Livingston portray himself to the small exchanges?

3. Why does Livingston say traders are often vilified in the press and by other traders?

4. What should one do in a bull market?

5. What does any trade do to the price of a stock?

(see the answer key)

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