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

Multiple Choice Questions

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

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

3. Why did Livingston stop in New Haven on his way to New York?
(a) To take a job.
(b) To see his brother.
(c) To bet in a bucket shop.
(d) To see his mother.

4. Why does it take Livingston so long to understand how to trade?
(a) He enjoys it so much he doesn't pay attention.
(b) He hates to study hard.
(c) He won't listen to his mentor.
(d) He is too confident in his own methods.

5. What does Livingston do when the alternate exchanges start to try and manipulate him?
(a) He buys the exchange.
(b) He calls the police.
(c) He starts reverse manipulations.
(d) He quits and goes to New York.

Short Answer Questions

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

2. The price on the stocks in bucket shops is in what according to time?

3. Why does Livingston keep losing money on stocks?

4. What kind of trading is done at a bucket shop?

5. When should one stay clear of a stock?

(see the answer key)

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