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

Multiple Choice Questions

1. What does any trade do to the price of a stock?
(a) If buying the price goes down.
(b) If selling the price goes up.
(c) Nothing.
(d) Affects it.

2. What do the insiders of Tropical Trading do when Livingston goes short?
(a) Run the stock back up.
(b) Make the price drop way down.
(c) Ask him to hold on to the stock.
(d) Put bad articles about him in the newspaper.

3. What's the difference between working on the stock exchange and the bucket shops?
(a) Bucket shops are run by the mob.
(b) Bucket shops require more money.
(c) In bucket shops you only bet on a stock; in Wall Street you buy it.
(d) Wall Street requires you to wear a suit and tie.

4. When does Livingston hate losing money the most?
(a) When he does everything right.
(b) When he follows someone's tip.
(c) When he needs money for a stake.
(d) When another trader manipulates him into the loss.

5. On a rising market what should each trade be?
(a) The average of all trades.
(b) The same as the last one.
(c) Lower than the last one.
(d) Higher than the last one.

Short Answer Questions

1. When is there a financial panic in 1907?

2. What did Livingston decide to look at when thinking about what to buy or sell?

3. What has he regretted ignoring in the past?

4. What does Livingston say about a drop in a stock price?

5. When can one only sell stock?

(see the answer key)

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