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

Multiple Choice Questions

1. When was the famous stock manipulator active?
(a) He started working in the middle of Livingston's career.
(b) Early in Livingston's career.
(c) About 50 years before Livingston was born.
(d) He was active about 25 years before Livingston started.

2. How does Livingston start his job with Imperial Steel?
(a) Buying all of Imperial's stock on the market.
(b) Selling all of Imperial's free floating stock.
(c) Selling Bethleham Steel.
(d) Buying Bethleham Steel.

3. What's the difference between working on the stock exchange and the bucket shops?
(a) Wall Street requires you to wear a suit and tie.
(b) In bucket shops you only bet on a stock; in Wall Street you buy it.
(c) Bucket shops are run by the mob.
(d) Bucket shops require more money.

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

5. What does Livingston conclude when Union Pacific announces a dividend?
(a) He had read the insiders correctly.
(b) The stock is worthless.
(c) They are borrowing money from somewhere.
(d) The company is poorly run.

Short Answer Questions

1. After Livingston gets used to Wall Street, how much does he reach at one point in the early part of his career?

2. What does Livingston do when he proves himself right about the market in Chapter IX?

3. What do some people claim about a newspaper article that helped Livingston?

4. What does Livingston complain about Wall Street?

5. What does Livingston say gives a trader the sense of what to do?

(see the answer key)

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