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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 everyone finally think about Tropical Trading?
(a) The parent company is in trouble.
(b) The stock is solid.
(c) The stock can't be manipulated.
(d) The insiders are dishonest.

2. What does Livingston say when someone asks him for a tip?
(a) He doesn't have time to be bothered.
(b) Comments on the general run of the market.
(c) He doesn't take or give tips.
(d) He ignores the person.

3. What does he think his debts are doing to his trading?
(a) Making it impossible to play on a margin.
(b) Making him too cautious.
(c) Causing him to be less objective.
(d) Making it too hard to borrow money.

4. What kind of regulation is enacted during war time?
(a) No buying of government bonds.
(b) No buying of ammunition companies.
(c) No selling off defense stock.
(d) No profiteering in war necessities.

5. Of whom does Livingston make fun?
(a) The press.
(b) Commodity traders.
(c) Brokage firms.
(d) Traders and the public looking for tips.

Short Answer Questions

1. When does Livingston hate losing money the most?

2. What does Livingston say a good broker letter should be?

3. Who does Livingston say is complicit in insiders' manipulations?

4. What is one of the forces that can cause a stock spectator's plans to go awry?

5. To what does Livingston attribute his success?

Short Essay Questions

1. How does a trader test a stock?

2. What does Livingston begin to do for a living?

3. How does Livingston feel about hunches?

4. What does Livingston say when people say a stock drops because someone sells it?

5. What happens when Livingston starts buying up what Imperial Steel stock is on the market.

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

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

8. Why were the three main stock holders of Consolidated Stove angry at Livingston?

9. What does Livingston warn about various conditions that affect the market?

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

(see the answer keys)

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