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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 does Livingston end up in his dealings with Tropical Trading?
(a) He makes about a million dollars.
(b) He makes about $50,000.
(c) He loses about half of what he put in.
(d) He breaks even.

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

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

4. Who was a famous stock manipulator Livingston mentions?
(a) Rupert W. Hatfield.
(b) Preston N. Roovelt.
(c) Chester Bollocks.
(d) James R. Keene.

5. Who does Livingston say is complicit in insiders' manipulations?
(a) Most brokerage firms.
(b) Stock manipulators.
(c) The press.
(d) Companies on the exchange.

Short Answer Questions

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

2. From where does Livingston say urges arise?

3. What does Livingston say gives a trader the sense of what to do?

4. Who offers to buy Livingston's shares of Imperial Steel?

5. What actually happens when Livingston is working under an account at Williamson's?

Short Essay Questions

1. What happens to Livingston after he follows Percy's advice?

2. How does a trader test a stock?

3. Why does Imperial Steel hire Livingston and why do they need him?

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

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

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

7. How does Livingston feel about hunches?

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

9. What does Livingston do about all his debt?

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

(see the answer keys)

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