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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter VII.

Multiple Choice Questions

1. Where does Livingston get his money to start to recoup his losses?
(a) His best friend.
(b) His father.
(c) The president of his brokerage firm.
(d) He gets a regular job.

2. What does experience give a successful stock trader?
(a) Respect.
(b) A job.
(c) Friends.
(d) Learning.

3. Why is Livingston having a hard time increasing his money?
(a) He keeps losing his bets.
(b) His name is too well known.
(c) The bucket shops are mostly shut down.
(d) It's a new game he doesn't know.

4. How do some smaller exchanges double their money?
(a) Getting different customers to buy and sell at the same time.
(b) Switching prices at the last minute.
(c) Taking out too much taxes.
(d) Allowing margin play.

5. What does Livingston do after receiving advice from his manager?
(a) Sells the rest of his Union Pacific stock.
(b) Buys wheat.
(c) Buys stock in oil.
(d) Sells all of his corn.

Short Answer Questions

1. Why can bets be carefully timed in bucket shops?

2. What is an important aspect of trading successfully?

3. What does Livingston do at several small alternate exchanges?

4. Why did Livingston stop in New Haven on his way to New York?

5. What has he regretted ignoring in the past?

(see the answer key)

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