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

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

3. How does Livingston portray himself to the small exchanges?
(a) Someone who has never thought about stocks.
(b) Someone who is very knowledgeable.
(c) Someone who is very, very wealthy.
(d) Someone who has lost a lot of money on Wall Street.

4. What must a successful stock trader do?
(a) Work for a brokage firm.
(b) Borrow money.
(c) Make the actual trade.
(d) Play poker.

5. What does Livingston notice not long after selling off his Union Pacific stock?
(a) The stock begins rising.
(b) The stock falls even farther.
(c) The company folds.
(d) The company expands.

Short Answer Questions

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

2. What concerns Livingston in 1906?

3. What does Livingston think is his best guide to trading?

4. Why is it harder for alternate exchanges to get rid of a customer?

5. What does Livingston want to do when he sees the market rallying?

Short Essay Questions

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

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

3. What difference of opinion do Livingston and Percy have and who convinces who?

4. What does Livingston say again about the bucket shops and Wall Street?

5. What kind of trader does Livingston hear had a bad loss and what does he do about it?

6. What does the trader Roberts suggest to Livingston?

7. What does Livingston discuss concerning stocks in Chapter V?

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

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

10. How much regulation is there in the stocks in Livingston's era and how did that affect the stocks?

(see the answer keys)

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