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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. How much money did Livingston make on the Union Pacific sell off?
(a) $75,000.
(b) $250,000.
(c) $150,000.
(d) $100,000.

2. What does Livingston do when the alternate exchanges start to try and manipulate him?
(a) He quits and goes to New York.
(b) He buys the exchange.
(c) He calls the police.
(d) He starts reverse manipulations.

3. What does Livingston do after he sold all the stock in Union Pacific and after the earthquake?
(a) Went into index funds.
(b) Started buying Union Pacific again.
(c) Went into commodoties.
(d) Bought a lot of mutual funds.

4. What do the small shops agree Livingston can do?
(a) Buy on margin.
(b) Open a very large account.
(c) Trade on the prices quoted.
(d) Buy and sell at the same time.

5. What concerns Livingston in 1906?
(a) The world economic situation.
(b) Who will be elected president.
(c) Whether new regulations will be enacted.
(d) Whether he will ever start a family.

Short Answer Questions

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

2. Who convinces Livingston that Union Pacific is manipulating him?

3. What does Livingston figure out he has to do to make a lot of money?

4. Why does it take Livingston so long to understand how to trade?

5. What does it take to be one of the best traders?

Short Essay Questions

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

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

3. What lesson does Livingston finally learn about markets?

4. What commodities has Livingston been trading and how is that going?

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

6. What does Livingston say about trading every day?

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

8. What kind of hunch does Livingston talk about in Chapter VI?

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

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

(see the answer keys)

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