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

Multiple Choice Questions

1. What does Livingston do to prevent being broke again?
(a) He puts some of his money in municipal bonds.
(b) He sends half his money to his brother to hold for him.
(c) He puts money into annuities.
(d) He opens a large savings account.

2. Why can bets be carefully timed in bucket shops?
(a) There's only three stocks involved.
(b) It's carefully controlled by the government.
(c) There's less people betting.
(d) They can be bought and sold instantly.

3. What is an important aspect of trading successfully?
(a) Being willing to bet on even odds.
(b) Having good advice.
(c) Having patience and waiting for the right moment.
(d) Having enough money.

4. What does Livingston conclude when Union Pacific announces a dividend?
(a) They are borrowing money from somewhere.
(b) He had read the insiders correctly.
(c) The stock is worthless.
(d) The company is poorly run.

5. How does he start out selling Union Pacific?
(a) Shares every other week.
(b) All at once.
(c) Slowly at first.
(d) He talks to the brokage manager.

Short Answer Questions

1. Why should a trader start with a small trade?

2. When does Livingston hate losing money the most?

3. What do the small shops agree Livingston can do?

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

5. Who convinces Livingston that Union Pacific is manipulating him?

(see the answer key)

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