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

Multiple Choice Questions

1. What does Livingston think is his best guide to trading?
(a) What happens in Washington D.C.
(b) The Fortune 500.
(c) Himself.
(d) Standard and Poor's index of stock.

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

3. What is Livingston's job at a bucket shop?
(a) Trader.
(b) Quotation boy.
(c) Stock broker.
(d) Runner.

4. Why does Livingston take his profit out so fast?
(a) He fears reversal.
(b) He has a problem with cash flow.
(c) He needs the money.
(d) He has to support his family.

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

Short Answer Questions

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

2. Why can bets be carefully timed in bucket shops?

3. For what does young Livingston have an excellent memory?

4. What happens shortly after he starts selling Union Pacific stock by the thousands?

5. What concerns Livingston in 1906?

(see the answer key)

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