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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 should one decide to do in order to make money?
(a) Hold on to the stock until it starts to drop.
(b) Sell when you need money.
(c) Let a financial advisor handle your deals.
(d) Stay in for the long haul.

2. Why does Livingston meet with Percy Thomas?
(a) Thomas asked to meet him and he admires Percy.
(b) Percy caused Livingston to make a lot of money.
(c) Percy was a friend of Livingston's brother.
(d) Percy caused Livingston to lose a lot of money.

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

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

5. Who does the president of the Stock Exchange and the wealthiest bank go to see?
(a) The Railroad Union President.
(b) The President of America.
(c) J. P. Morgan.
(d) John Rockefellow.

Short Answer Questions

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

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

3. What does Livingston do at several small alternate exchanges?

4. Why doesn't Livingston learn the new techniques for betting on Wall Street?

5. How does Livingston portray himself to the small exchanges?

Short Essay Questions

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

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

3. What's the difference between trading on Wall Street and bucket shops and how does it affect Livingston?

4. What happens in October of 1907?

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

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

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

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

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

10. What happens to Livingston in St. Louis?

(see the answer keys)

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