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

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

3. How does he start out selling Union Pacific?
(a) Slowly at first.
(b) Shares every other week.
(c) All at once.
(d) He talks to the brokage manager.

4. The price on the stocks in bucket shops is in what according to time?
(a) Elasped time.
(b) Two days old.
(c) Several hours old.
(d) Real time.

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

Short Answer Questions

1. What does Livingston think is his best guide to trading?

2. What does Roberts suggest to Livingston?

3. What has he regretted ignoring in the past?

4. Why is corn having a hard time getting to the market?

5. What does Livingston do about his concerns in 1906?

Short Essay Questions

1. What does Livingston say must be available in order to sell a stock and why?

2. What happens in October of 1907?

3. What does the trader Roberts suggest to Livingston?

4. What happens when Livingston first comes back from St. Louis?

5. Why does Livingston say patterns can be used and who uses them well?

6. What does Livingston say makes a successful stock trader?

7. What kind of trader does Livingston hear had a bad loss and what does he do about it?

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

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

10. What does Livingston say again about the bucket shops and Wall Street?

(see the answer keys)

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