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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. Why did Livingston refuse the offer of partnership with Percy?
(a) He thinks Percy is on the illicit side of manipulations.
(b) He doesn't like being involved in cotton.
(c) He didn't like Percy's methods.
(d) He works alone.

2. In what does Livingston trade besides stocks?
(a) Index funds.
(b) Commodities.
(c) Mutual funds.
(d) Bonds.

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

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

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

Short Answer Questions

1. Where does Livingston go when he leaves Boston?

2. What does Livingston do after receiving advice from his manager?

3. Why does Livingston return to Boston?

4. How do some smaller exchanges double their money?

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

Short Essay Questions

1. What's the difference between trading on Wall Street and bucket shops and how does it affect Livingston?

2. What does the trader Roberts suggest to Livingston?

3. How long does Livingston stay in Boston and then what does he do?

4. What happens when Livingston first comes back from St. Louis?

5. What job did Livingston have when the book opened and how are stock quotes done?

6. What does Livingston believe is his best guide to trading and what does he say a good trader must be?

7. Why does Livingston return to Boston and what happens when he does?

8. What happens a few days after he sells Union Pacific and how did that help Livingston?

9. What do customers in bucket shops do?

10. Why does Livingston take so long to figure out the stock market and what happens then?

(see the answer keys)

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