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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. What does Livingston say is illegal now?

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

3. What is one of the main problems of people paying you to do something on the market?

4. When does Livingston hate losing money the most?

5. What actually happens when Livingston is working under an account at Williamson's?

Short Essay Questions

1. What does Livingston do about all his debt?

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

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

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

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

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

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

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

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Livingston is flat broke and becomes ill. He goes to Chicago to recover. He wonders how he made so many mistakes. He goes back to New York.

1. What do you think the typical person would do if she/he were in Livingston's position?

2. Why do you think Livingston has continued to make mistakes in his trading? Use examples from the book to support your answer.

3. Given that Livingston is flat broke yet again, still he returns to New York. Why do you think Livingston keeps trying?

Essay Topic 2

Livingston goes back and forth between cities trying to earn money. He won't settle down and learn how to do Wall Street. Given his circumstances he doesn't seem to be a very stable individual.

1. Would you agree or disagree with the above statement? Why or why not? Use examples from the book to support your answer.

2. Given what we've seen thus far of Livingston's character explain, in detail, why he probably wouldn't be happy in a steady job.

3. Why do you think Livingston keeps moving around? Use examples from the book to support your answer.

Essay Topic 3

Livingston discusses the patterns various stocks show and how charts can be kept of these patterns and compared to market trends. By applying certain rules to the patterns, traders can decide if it is a good time to buy or sell a particular stock. Only the best traders make money with this approach.

1. Why does Livingston say only the best traders make money by using the patterns? Use examples from the book to support your answer.

2. Discuss several other situations in life where studying patterns are the best way to understand a situation.

3. Does this statement of Livingston's seem too simplistic, considering how few people actually make money in the stock market? Why or why not?

(see the answer keys)

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