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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 actually happens when Livingston is working under an account at Williamson's?
(a) They squeeze him for the loan payment.
(b) He makes millions of dollars.
(c) They constantly criticize his work.
(d) They keep asking him to do favors.

2. What does Livingston suggest is the reason for urges?
(a) Small warnings.
(b) Being competitive.
(c) Being fearful.
(d) Human nature.

3. What is one of the main problems of people paying you to do something on the market?
(a) Getting arrested.
(b) Getting bored.
(c) Making less money.
(d) Buying or selling at a good price.

4. Why doesn't Livingston make any money no matter how hard he tries?
(a) He has lost his enthusiasm.
(b) Market conditions aren't right.
(c) He had to start with too little.
(d) He has lost the pattern.

5. What does Livingston say one should do when a stock that's being sold is dropping?
(a) Hold it until it bottoms out and starts back up.
(b) Buy some as it drops to boost the price.
(c) Buy and sell within a half hour of each other.
(d) Sell all of it at the same day.

Short Answer Questions

1. From where does Livingston say urges arise?

2. What does Livingston do after the Tropical Trading event?

3. What does Williamson agree to allow Livingston to do?

4. For what was the famous stock manipulator most known?

5. To what does Livingston attribute his success?

Short Essay Questions

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

2. What does Livingston do about all his debt?

3. What does Livingston do to keep from being broke again?

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

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

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

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

8. What does Livingston say about broker letters?

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

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

(see the answer keys)

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