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

2. When is there a financial panic in 1907?
(a) April.
(b) August.
(c) June.
(d) October.

3. Why did Livingston stop in New Haven on his way to New York?
(a) To take a job.
(b) To see his brother.
(c) To see his mother.
(d) To bet in a bucket shop.

4. What does Livingston say will happen in a stock or commodity if a surprise event occurs?
(a) It will always stay the same.
(b) It will always go up.
(c) It will always go down.
(d) It will move in the direction of the market.

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

Short Answer Questions

1. How much money did Livingston make on the Union Pacific sell off?

2. How does he consider commodities in comparison to stocks?

3. What did Livingston do about individual stocks?

4. What does Livingston do after he sold all the stock in Union Pacific and after the earthquake?

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

Short Essay Questions

1. How did Livingston make a lot of money in cotton?

2. What lesson does Livingston finally learn about markets?

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

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

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

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

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

8. What does Livingston say makes a successful stock trader?

9. What does the trader Roberts suggest to Livingston?

10. What happens to Livingston in St. Louis?

(see the answer keys)

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