2. When can one only sell stock?
(a) When the stock is worth more than paid for.
(b) When your manager authorizes the sell.
(c) When the company is stable.
(d) When there's a willing buyer.

3. What does Livingston do when he proves himself right about the market in Chapter IX?
(a) Sells stock.
(b) Holds steady.
(c) Buys stock.
(d) Sells high end stock and buys low end stock.

4. What can a trader do by applying rules to a pattern?
(a) Decide when to buy or sell.
(b) Decide if it is a bear market.
(c) Decide if it is a bull market.
(d) Decide whether to come to work.

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

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

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

8. Why does Livingston take his profit out so fast?
(a) He has to support his family.
(b) He needs the money.
(c) He has a problem with cash flow.
(d) He fears reversal.

9. What does Livingston figure out he has to do to make a lot of money?
(a) Spread his money around.
(b) Play one stock consistently.
(c) Keep his money riding longer.
(d) Trade on broad principles.

10. Where does Livingston go when he leaves Boston?
(a) Florida.
(b) Pittsburgh.
(c) New York.
(d) Washington D.C.

11. What does Livingston say to do with anything showing a loss?
(a) Hold it until it goes up.
(b) Sell it after it moves in either direction.
(c) Buy more of it.
(d) Sell it immediately.

12. What does Percy believe about the cotton market?
(a) It's a bull market.
(b) It's an exciting market.
(c) It's very stable.
(d) It's a bear market.

13. What does Livingston do after receiving advice from his manager?
(a) Buys stock in oil.
(b) Sells all of his corn.
(c) Sells the rest of his Union Pacific stock.
(d) Buys wheat.

14. Why does Livingston meet with Percy Thomas?
(a) Percy caused Livingston to make a lot of money.
(b) Percy was a friend of Livingston's brother.
(c) Percy caused Livingston to lose a lot of money.
(d) Thomas asked to meet him and he admires Percy.

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