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

Multiple Choice Questions

1. What type of time is the trading at a bucket shop?
(a) Short term.
(b) Over a lifetime.
(c) Long term.
(d) Several weeks.

2. What does Union Pacific announce that dismays Livingston?
(a) Plans for new railroads.
(b) Bankruptcy filings.
(c) A company reorganization.
(d) A dividend.

3. What does the phrase "go long" mean?
(a) To wait a long time to sell.
(b) To sell any stock within 30 days.
(c) To buy stock.
(d) To buy stock that's been on the market a long time.

4. After Livingston gets used to Wall Street, how much does he reach at one point in the early part of his career?
(a) $10,000.
(b) A million dollars.
(c) $155000.
(d) $50,000.

5. What's the difference between working on the stock exchange and the bucket shops?
(a) Bucket shops are run by the mob.
(b) Bucket shops require more money.
(c) In bucket shops you only bet on a stock; in Wall Street you buy it.
(d) Wall Street requires you to wear a suit and tie.

Short Answer Questions

1. What did Livingston do about individual stocks?

2. What does Livingston notice not long after selling off his Union Pacific stock?

3. How much money does Livingston make when he first comes back from St. Louis?

4. According to Livingston why should no one trade every day?

5. What does Livingston do after receiving advice from his manager?

(see the answer key)

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