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

Multiple Choice Questions

1. When does a trader err when trading?
(a) When he hasn't followed a stock for at least a year.
(b) When he doesn't account for underlying factors.
(c) When he follows hot tips.
(d) When the direction of the market is not established.

2. What does Livingston complain about Wall Street?
(a) How the market goes up and down too much.
(b) How everyone is unfriendly.
(c) How slow trades are.
(d) How much money he lost.

3. What does Roberts suggest to Livingston?
(a) Betting on corn and wheat.
(b) Smaller, alternate exchanges.
(c) Opening a bucket shop himself.
(d) Going back to school.

4. What does Livingston say about a drop in a stock price?
(a) It was too high for buying.
(b) It only drops as the market is going down.
(c) It was too low for buying.
(d) It wouldn't drop if it weren't justified.

5. What happens when the market falls steeply in 1906?
(a) It earns Livingston and his house a lot of money.
(b) The banks collapse.
(c) The government takes over the market.
(d) There is a depression.

Short Answer Questions

1. To what does Livingston attribute his success?

2. Why is Livingston so good at betting?

3. What does Livingston suggest is the reason for urges?

4. Why is Livingston frustrated when he leaves Williamson's?

5. What does Livingston do at several small alternate exchanges?

(see the answer key)

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