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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 say he has to do with a strong urge?
(a) He never has strong urges.
(b) Take action.
(c) Study the situation before doing anything.
(d) Wait and see.

2. What does Livingston say is a good method to make a stock look good?
(a) Buy and sell rapidly.
(b) Sell most of the stock.
(c) Use inside trading.
(d) Buy a lot of that stock.

3. What does Livingston say when someone asks him for a tip?
(a) He doesn't take or give tips.
(b) Comments on the general run of the market.
(c) He ignores the person.
(d) He doesn't have time to be bothered.

4. What does Livingston think one should never feel about the market?
(a) Depression.
(b) Anger.
(c) Confidence.
(d) Elation.

5. Of whom does Livingston make fun?
(a) The press.
(b) Commodity traders.
(c) Brokage firms.
(d) Traders and the public looking for tips.

Short Answer Questions

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

2. What does Livingston wonder when he is flat broke again?

3. Why was Consolidated Stove formed?

4. How many people held most of the stock in Consolidated Stove?

5. How was the company Consolidated Stove formed?

Short Essay Questions

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

2. What does Livingston begin to do for a living?

3. What does Livingston do when he returns to New York?

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

5. What does Livingston say about broker letters?

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

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

8. What happens when Livingston starts buying up what Imperial Steel stock is on the market.

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

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

(see the answer keys)

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