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

Multiple Choice Questions

1. How does Livingston portray himself to the small exchanges?
(a) Someone who is very knowledgeable.
(b) Someone who has never thought about stocks.
(c) Someone who is very, very wealthy.
(d) Someone who has lost a lot of money on Wall Street.

2. What does Livingston figure out he has to do to make a lot of money?
(a) Trade on broad principles.
(b) Play one stock consistently.
(c) Spread his money around.
(d) Keep his money riding longer.

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. What happens when one places an order on Wall Street time wise?
(a) It is done instantly.
(b) There is a short lag.
(c) It's never implemented for 24 hours.
(d) The SCCI has to check it first.

5. How old was Livingston when he made his first $1000?
(a) 21.
(b) 19.
(c) 15.
(d) 17.

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 with his predictions at first?

4. After Livingston gets used to Wall Street, how much does he reach at one point in the early part of his career?

5. What must a successful stock trader do?

(see the answer key)

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