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

Multiple Choice Questions

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

2. How much money does Livingston have when he goes to Wall Street?
(a) $5000.
(b) $4500.
(c) $2500.
(d) $10,000.

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

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

5. What does Livingston decide from the Union Pacific situation?
(a) To practice understanding insider actions.
(b) To only trust himself.
(c) To go back to school to learn more.
(d) To listen more carefully to his manager.

Short Answer Questions

1. What does Livingston say one must be in order to be a good trader?

2. Why doesn't Livingston learn the new techniques for betting on Wall Street?

3. Why do the bucket shops begin banning Livingston?

4. On a rising market what should each trade be?

5. Why does Livingston take his profit out so fast?

(see the answer key)

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