View a FREE sample

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

Multiple Choice Questions

1. How does he consider commodities in comparison to stocks?
(a) They are the poor man's stock.
(b) They can be too volatile.
(c) Less complex maneuvers around them.
(d) Make less money on them.

2. How useful is bucket shop technique on Wall Street?
(a) Very useful.
(b) Not very useful.
(c) It is the same technique.
(d) One has nothing to do with the other.

3. Under what authority are bucket shops allowed?
(a) The local constable signs the permit.
(b) Thet are established by New York State government.
(c) They are not legal.
(d) The NYSE authorizes them.

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

5. What is affected the most by timing on Wall Street?
(a) Large trades.
(b) Small trades.
(c) Index funds.
(d) Bonds.

6. On a rising market what should each trade be?
(a) The same as the last one.
(b) The average of all trades.
(c) Higher than the last one.
(d) Lower than the last one.

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

8. How much money did Livingston make on the Union Pacific sell off?
(a) $75,000.
(b) $250,000.
(c) $100,000.
(d) $150,000.

9. As the market slides, what signs are showing in other financial institutions?
(a) The FDIC is in the red.
(b) Banks are being affected.
(c) The government has taken out more bonds.
(d) Average wages have dropped.

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

11. How long does Livingston stay in Boston the second time he goes there?
(a) Two years.
(b) Six months.
(c) Two weeks.
(d) A year.

12. Who convinces Livingston that Union Pacific is manipulating him?
(a) The branch manager.
(b) His mentor.
(c) His wife.
(d) His best friend.

13. What happens when one places an order on Wall Street time wise?
(a) There is a short lag.
(b) It's never implemented for 24 hours.
(c) It is done instantly.
(d) The SCCI has to check it first.

14. Why can bets be carefully timed in bucket shops?
(a) There's less people betting.
(b) It's carefully controlled by the government.
(c) They can be bought and sold instantly.
(d) There's only three stocks involved.

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

Short Answer Questions

1. What does Roberts suggest to Livingston?

2. What should one decide to do in order to make money?

3. What does Livingston figure out he has to do to make a lot of money?

4. Where does Livingston get his money to start to recoup his losses?

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

(see the answer keys)

This section contains 541 words (approx. 2 pages at 300 words per page) View a FREE sample