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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 mistake was made with Consolidated Stove's initial public offering?
(a) Timed the IPP for a down market.
(b) Flooded the market with too much stock.
(c) Didn't issue enough stock for the demand.
(d) Didn't listen to Livinston's advice.

2. To what does Livingston attribute his success?
(a) Being willing to lose lots of money.
(b) Being in the right place at the wrong time.
(c) Objectively watching stocks.
(d) Having a lot of friends.

3. What is the stock Livingston buys to restart his career?
(a) Winchester guns.
(b) Bethlehem Steel.
(c) Pullman Railroad.
(d) Standard Oil.

4. What does Livingston believe about this famous stock manipulator?
(a) That he was a scoundrel.
(b) That he should have been arrested.
(c) That he would be successful anytime.
(d) That he broke the law many times.

5. What does Livingston say one should do when a stock that's being sold is dropping?
(a) Buy some as it drops to boost the price.
(b) Buy and sell within a half hour of each other.
(c) Sell all of it at the same day.
(d) Hold it until it bottoms out and starts back up.

Short Answer Questions

1. When is a good time to sell a stock?

2. What does Livingston say he has to do with a strong urge?

3. What does Livingston say is illegal now?

4. What does Livingston notice about the price of Tropical Trading stock?

5. Why does Livingston say certain stock manipulator practices should be banned?

Short Essay Questions

1. Why were the three main stock holders of Consolidated Stove angry at Livingston?

2. What does Livingston say about the press and insider trading?

3. What does Jim Barnes ask of Livingston? How was Consolidated Stove formed?

4. Is Livingston asked for tips? What does he say?

5. What does Livingston warn about various conditions that affect the market?

6. What does Livingston say about forces that can cause plans to go wrong?

7. What is one of the primary tools to manipulate a stock?

8. What does Livingston notice about the price of Tropical Trading and what does he do about it?

9. What does Livingston do when insiders in Tropical Trading try to knock him out of the market?

10. How does Livingston feel about tips and to what does he attribute his success?

(see the answer keys)

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