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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. What does Livingston do when he proves himself right about the market in Chapter IX?
(a) Holds steady.
(b) Buys stock.
(c) Sells high end stock and buys low end stock.
(d) Sells stock.

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

3. How does Livingston portray himself to the small exchanges?
(a) Someone who is very, very wealthy.
(b) Someone who is very knowledgeable.
(c) Someone who has never thought about stocks.
(d) Someone who has lost a lot of money on Wall Street.

4. How old was Livingston when he made his first $1000?
(a) 15.
(b) 21.
(c) 19.
(d) 17.

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

Short Answer Questions

1. What does Livingston say will happen in a stock or commodity if a surprise event occurs?

2. What is an important aspect of trading successfully?

3. Where does Livingston get his money to start to recoup his losses?

4. Why should a trader start with a small trade?

5. What's the difference between working on the stock exchange and the bucket shops?

Short Essay Questions

1. What happens a few days after he sells Union Pacific and how did that help Livingston?

2. How did Livingston make a lot of money in cotton?

3. Why is Livingston still losing money on Wall Street?

4. What commodities is Livingston trading and how is that going?

5. Why does Livingston take so long to figure out the stock market and what happens then?

6. What lesson does Livingston finally learn about markets?

7. What does Livingston do with Roberts suggestion?

8. What does Livingston say about trading every day?

9. What does Livingston do when he can't bet in Boston and how much money does he have?

10. What does Livingston discuss concerning stocks in Chapter V?

(see the answer keys)

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