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

Multiple Choice Questions

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

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

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

4. What don't the new bucket shops in Boston allow?
(a) Large trades.
(b) Betting on commodoties.
(c) Betting on only one stock.
(d) More than two people to bet at a time.

5. Why does Livingston keep losing money on stocks?
(a) He doesn't understand some of the companies.
(b) He's reacting to price and movement.
(c) He gets distracted by numbers.
(d) He plays like it's a game.

Short Answer Questions

1. What do the banks ask Livingston to not do during the panic of 1907?

2. What does Livingston decide from the Union Pacific situation?

3. What happens when the market falls steeply in 1906?

4. What does experience give a successful stock trader?

5. As the market slides, what signs are showing in other financial institutions?

(see the answer key)

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