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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 does Livingston believe about the cotton market when he and Percy are discussing it?
(a) It's a bull market.
(b) It's a bear market.
(c) It's a dull market.
(d) It's too volatile.

2. What do customers at a bucket shop do?
(a) Buy stock.
(b) Play the lottery.
(c) Buy feed buckets.
(d) Bet on a stock going up or down.

3. What does the phrase "go short" mean?
(a) To buy stock that's been on the market a short time.
(b) To buy any stock within 30 days.
(c) To wait a short time to sell.
(d) To sell stock.

4. What happens to Livingston when he takes Percy's advice?
(a) He loses almost everything he has.
(b) He didn't take Percy's advice.
(c) He breaks even.
(d) He doubles his money.

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

Short Answer Questions

1. What has happened to Percy recently in the market?

2. What does Percy believe about the cotton market?

3. Where does Livingston go when he leaves Boston?

4. Why is corn having a hard time getting to the market?

5. How much money does Livingston have when he goes to Wall Street?

Short Essay Questions

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

2. What does the trader Roberts suggest to Livingston?

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

4. What does Livingston do with Roberts suggestion?

5. What happens in October of 1907?

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

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

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

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

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

(see the answer keys)

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