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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 do after the Tropical Trading event?
(a) Becomes a stock operator.
(b) Retires.
(c) Goes back to Boston.
(d) Marries.

2. What happens after Livingston's initial action on behalf of Imperial Steel?
(a) Brokers begin buying their stock.
(b) The price bottomed out.
(c) The newspaper reported the company was failing.
(d) The price slid slightly.

3. What does Livingston think the purpose of split stocks is?
(a) To make people think the company is doing bad.
(b) To make people think the company is doing well.
(c) To confuse traders.
(d) To sell the spilt stocks a higher price combined than the original stock.

4. What does Livingston warn about in the beginning of Chapter XV?
(a) Not to stay a trader your whole life.
(b) There are some things that can't be anticipated.
(c) Not to play the market if you need money.
(d) Not to be greedy.

5. Why was Consolidated Stove formed?
(a) In order to sell gas stoves.
(b) To play the market with a company.
(c) So the President of the company could retire.
(d) So it could be traded on Wall Street.

Short Answer Questions

1. What does Livingston say is a good method to make a stock look good?

2. What does Livingston do to prevent being broke again?

3. What does he think his debts are doing to his trading?

4. What does an operator tell people when cornering a market?

5. What happens to Livingston after his dealings with Percy Thomas?

Short Essay Questions

1. What is one of the primary tools to manipulate a stock?

2. What does Livingston notice about the price of Tropical Trading and what does he do about it?

3. Is Livingston asked for tips? What does he say?

4. What does Livingston say about the press and insider trading?

5. What does Livingston say about selling stocks on a payment plan and stock splits?

6. What does Livingston say about forces that can cause plans to go wrong?

7. What does Livingston do when insiders in Tropical Trading try to knock him out of the market?

8. How does Livingston feel about hunches?

9. What does Livingston do when he returns to New York?

10. What happens to Livingston after he follows Percy's advice?

(see the answer keys)

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