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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. Why does Imperial Steel hire Livingston?

2. When does Livingston hate losing money the most?

3. Who does Livingston think benefits most from tips?

4. When was the famous stock manipulator active?

5. What does Livingston say is the most important thing?

Short Essay Questions

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

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

3. How does a trader test a stock?

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

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

6. How does Livingston feel about hunches?

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

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

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

He considers commodities down to earth and less prone to complex maneuvering than stocks. They are affected by supply and demand and conditions that don't affect stock as much.

1. Why do you think Livingston thinks the above statement is true? Use examples from the book to support your answer.

2. Having read the entire book do you think trading in commodities would be easier than in stock? Why or why not?

3. Given the differences in transportation and the wider global market do you think commodity trading has become more complex? Why or why not?

Essay Topic 2

Livingston, though still losing money, is making enough money to live on, which only delays the inevitable need to learn new trading techniques.

1. Explain why having enough money to live on would delay Livingston learning the stock broker trade.

2. If one has a natural talent for a musical instrument and can play it somewhat when first trying what do you think would be the equivalent for farther learning of the musical instrument if the situation was an analogy for the statement above?

3. If the above statement is true do you think it would mean mediocrity can get in the way of greatness? Why or why not?

Essay Topic 3

Livingston warns there are some things no speculator can guard against. No trader can account for all the factors that affect a trade.

1. Given the uncertainty in the numerous factors involved in stock trading why do you think people do it?

2. What other careers have such uncertainty to them? Describe in detail why.

3. Do you think life is better uncertain or not? Why?

(see the answer keys)

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