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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What is one trait Livingston says a successful stock trader must have?
(a) Confidence.
(b) Ability to make friends.
(c) Control of emotions.
(d) Ability to spend money.

2. Why does Livingston return to Boston?
(a) His mother is ill.
(b) He hates the traffic in New York.
(c) He's broke and frustrated.
(d) He wants to open a bucket shop.

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

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

5. What should one decide to do in order to make money?
(a) Stay in for the long haul.
(b) Hold on to the stock until it starts to drop.
(c) Let a financial advisor handle your deals.
(d) Sell when you need money.

6. How much money does Livingston have when he goes to Wall Street?
(a) $2500.
(b) $5000.
(c) $10,000.
(d) $4500.

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

8. What does Livingston do at several small alternate exchanges?
(a) Let Roberts handle everything.
(b) Lose a lot of money.
(c) Get kicked out.
(d) Establish accounts.

9. What don't the new bucket shops in Boston allow?
(a) Betting on only one stock.
(b) Betting on commodoties.
(c) Large trades.
(d) More than two people to bet at a time.

10. Why is Livingston having a hard time increasing his money?
(a) It's a new game he doesn't know.
(b) His name is too well known.
(c) He keeps losing his bets.
(d) The bucket shops are mostly shut down.

11. When is there a financial panic in 1907?
(a) October.
(b) April.
(c) August.
(d) June.

12. What does Livingston say financial news in the papers is?
(a) Useless.
(b) Up-to-date.
(c) Retrospective.
(d) Very helpful.

13. For what does young Livingston have an excellent memory?
(a) Numbers.
(b) Languages.
(c) Recipes.
(d) People's names.

14. How does he start out selling Union Pacific?
(a) He talks to the brokage manager.
(b) Shares every other week.
(c) Slowly at first.
(d) All at once.

15. According to Livingston why should no one trade every day?
(a) It is too tiring.
(b) It's not good for the soul.
(c) The excitement leads to mistakes.
(d) It cost too much money.

Short Answer Questions

1. What happens to Livingston when someone buys up all the corn?

2. As the market slides, what signs are showing in other financial institutions?

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

4. What does the phrase "go long" mean?

5. What does Livingston say will happen in a stock or commodity if a surprise event occurs?

(see the answer keys)

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