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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. What do the banks ask Livingston to not do during the panic of 1907?
(a) Sell commodities.
(b) Sell any more stock.
(c) Buy any more stock.
(d) Buy mutual funds.

2. What happens when the market falls steeply in 1906?
(a) It earns Livingston and his house a lot of money.
(b) There is a depression.
(c) The banks collapse.
(d) The government takes over the market.

3. What does Livingston hear about a well known cotton trader?
(a) He has quit the business.
(b) He has made 2 million dollars.
(c) He has taken a huge loss.
(d) He has switched to soy beans.

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

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

Short Answer Questions

1. How much regulation is there in the stock market during Livingston's era?

2. What does Livingston say financial news in the papers is?

3. How do some smaller exchanges double their money?

4. What is happening to wheat prices when Livingston is trading it?

5. How long does Livingston stay in Boston the second time he goes there?

Short Essay Questions

1. What commodities is Livingston trading and how is that going?

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

3. Why does Livingston wish he had not listened to his branch manager?

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

5. What does Livingston say makes a successful stock trader?

6. What concerns Livingston in 1906 and why?

7. What does Livingston say about trading every day?

8. Why is Livingston still losing money on Wall Street?

9. How does LIvingston sell off Union Pacific and why does he do it?

10. What do customers in bucket shops do?

(see the answer keys)

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