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

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

3. What should one do in a bull market?
(a) Buy stock.
(b) Wait and see.
(c) Stick with index funds.
(d) Buy one week, sell the next.

4. What does Livingston complain about Wall Street?
(a) How slow trades are.
(b) How much money he lost.
(c) How everyone is unfriendly.
(d) How the market goes up and down too much.

5. 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) Trade on broad principles.
(d) Keep his money riding longer.

Short Answer Questions

1. What do the small shops agree Livingston can do?

2. What does Livingston discuss at the beginning of this chapter about stocks?

3. Why does Livingston take his profit out so fast?

4. What does Livingston hear about a well known cotton trader?

5. Where does Livingston go with his $500?

Short Essay Questions

1. What does Livingston see the market doing, what does he think will happen and what does he do about it?

2. What happens in October of 1907?

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

4. What does Livingston say one should do in a rising or falling market?

5. What does the trader Roberts suggest to Livingston?

6. Why was Livingston banned from the bucket shops and what did the last one he bet at do?

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

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

9. Why does Livingston say patterns can be used and who uses them well?

10. What does Livingston do when he can't bet in Boston and how much money does he have?

(see the answer keys)

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