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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 say cornering a market can do to a price?
(a) Influence it.
(b) Make the price go down.
(c) Make the price go up.
(d) Nothing.

2. What does one have to do with profit on paper?
(a) Convert it to cash.
(b) Ignore it.
(c) Let it sit.
(d) Don't count it when figuring up your worth.

3. What does Livingston believe about this famous stock manipulator?
(a) That he broke the law many times.
(b) That he would be successful anytime.
(c) That he should have been arrested.
(d) That he was a scoundrel.

4. How does Livingston feel about selling stocks on a payment plan and stock splits?
(a) He thinks they're a great idea.
(b) He thinks you should do them but on a limited basis.
(c) He has no opinion.
(d) He warns against this.

5. What does Livingston do to retaliate against the insiders?
(a) Buys all the low priced shares.
(b) Sells a bunch of the parent company stock.
(c) Tells the newspaper it's going under.
(d) Tells all his friends to sell.

Short Answer Questions

1. Why does Livingston declare bankruptcy?

2. Why is Livingston frustrated when he leaves Williamson's?

3. What does Livingston warn about in the beginning of Chapter XV?

4. What does everyone finally think about Tropical Trading?

5. What does Livingston notice about the price of Tropical Trading stock?

Short Essay Questions

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

2. What does Livingston do about all his debt?

3. How does Livingston think James R. Keene would do in the market of Livingston's era.

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

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

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

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

8. Why does Imperial Steel hire Livingston and why do they need him?

9. Sum up what Livingston says about cornering the market.

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

(see the answer keys)

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