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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. Why does Livingston say that after 25 years playing the market, it has become more difficult?
(a) The stocks have become too expensive.
(b) There are too many brokers.
(c) Too many new laws.
(d) There's been a large increase in the number of stocks.

2. What is one of the forces that can cause a stock spectator's plans to go awry?
(a) The government changing regulations.
(b) A company collapsing.
(c) The trader calling in sick on the best day to sell.
(d) Forces inherent in the market.

3. When is a good time to sell a stock?
(a) When it is dropping.
(b) When it reaches its top price.
(c) When others are selling.
(d) When the price is rising.

4. Under what condition does David Williamson offer Livingston a stake?
(a) That he pay 5% interest.
(b) That he pay it back double.
(c) That he remember the firm when dealing.
(d) That he open an account with them.

5. What does any trade do to the price of a stock?
(a) If buying the price goes down.
(b) If selling the price goes up.
(c) Affects it.
(d) Nothing.

Short Answer Questions

1. When Livingston is looking at the price of Tropical Trading what is the market doing?

2. How does Livingston drive up the price of Consolidated Stove?

3. What does Livingston say is illegal now?

4. Who was a famous stock manipulator Livingston mentions?

5. Who offers to buy Livingston's shares of Imperial Steel?

Short Essay Questions

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

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

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

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

5. How does Livingston feel about tips and to what does he attribute his success?

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

7. What does Jim Barnes ask of Livingston? How was Consolidated Stove formed?

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

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

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

(see the answer keys)

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