Wall Street crash of 1929

Wall Street crash of 1929 - Quiz

1. When did the sharp, unexpected decline in stock prices begin?

A) October 29
B) October 23
C) October 24
D) October 28

2. What was the market value drop on the afternoon of October 23?

A) 11%
B) 23.05%
C) 12.82%
D) 4.6%

3. Which date is referred to as 'Black Thursday'?

A) October 24
B) October 23
C) October 29
D) October 28

4. How much of its value did the market lose at the opening bell on October 24?

A) 12.82%
B) 11%
C) 4.6%
D) 23.05%

5. Who was the acting head of Morgan Bank that met to address the market panic?

A) Richard Whitney
B) Thomas W. Lamont
C) Albert Wiggin
D) Charles E. Mitchell

6. Who was chosen by bankers to act on their behalf during the market panic?

A) Richard Whitney
B) Thomas W. Lamont
C) Charles E. Mitchell
D) Albert Wiggin

7. What company's shares did Richard Whitney bid on to stabilize the market?

A) National City Bank
B) Chase National Bank
C) Morgan Bank
D) U.S. Steel

8. Which date is referred to as 'Black Monday'?

A) October 28
B) October 30
C) October 29
D) October 24

9. What was the Dow's record loss percentage on October 28?

A) 12.82%
B) 23.05%
C) 4.6%
D) 11%

10. Approximately how many shares were traded on 'Black Tuesday'?

A) 25,000
B) 3 million
C) 10 million
D) 16 million

11. How much stock value was lost on Black Tuesday?

A) $205 million
B) $2 billion
C) $68 billion
D) $14 billion

12. Who joined members of the Rockefeller family to buy stocks on October 29?

A) Albert Wiggin
B) Thomas W. Lamont
C) William C. Durant
D) Richard Whitney

13. When did the market reach its lowest level of the 20th century?

A) April 17, 1930
B) November 23, 1954
C) July 8, 1932
D) October 29, 1929

14. What was the Dow index value on July 8, 1932?

A) 294.07
B) 217.28
C) 198.60
D) 41.22

15. When did the Dow finally return to its September 3, 1929 peak?

A) April 17, 1930
B) July 8, 1932
C) November 23, 1954
D) March 15, 1933

16. What percentage of the index was lost from the peak to the low point in 1932?

A) 11.73%
B) 12.82%
C) 89.2%
D) 23.05%

17. What was the Dow closing price on November 13, 1929?

A) 217.28
B) 294.07
C) 258.47
D) 198.60

18. What is the common name for the Wall Street crash of 1929?

A) The Banking Panic
B) The Big Slump
C) The Market Meltdown
D) The Great Crash

19. What was the peak value of the Dow Jones Industrial Average on September 3, 1929?

A) 250.50
B) 381.17
C) 300.00
D) 410.25

20. What percentage of its pre-crash value had the stock market lost by July 8, 1932?

A) 50%
B) 75%
C) 25%
D) 90%

21. Which act separated commercial and investment banking?

A) Securities Act of 1933
B) Securities Exchange Act of 1934
C) Banking Act of 1933
D) Federal Reserve Act

22. Who famously predicted in September 1929 that 'a crash is coming, and it may be terrific'?

A) Irving Fisher
B) Roger Babson
C) Charles E. Mitchell
D) Franklin D. Roosevelt

23. Which economist famously claimed that stock prices had reached a 'permanently high plateau' shortly before the crash?

A) Irving Fisher
B) Harold Bierman, Jr.
C) Roger Babson
D) Scott Sumner

24. What was the nickname for the market decline in September 1929?

A) Babson Break
B) Black Thursday
C) Investor Panic
D) Roaring Slump

25. Which event on March 25, 1929, served as an early warning of the market's shaky foundation?

A) A sudden rise in interest rates
B) The bankruptcy of the National City Bank
C) The Smoot-Hawley Tariff Act passing
D) A small crash after Federal Reserve warnings

26. What major sector of the economy was depressed due to overproduction and falling prices before the crash?

A) Agricultural sector
B) Technology sector
C) Entertainment sector
D) Service sector

27. Which British investor was jailed for fraud in September 1929, potentially weakening investor confidence?

A) Roger Babson
B) Philip Snowden
C) Charles E. Mitchell
D) Clarence Hatry

28. What did bankers do after Black Thursday to try to stabilize the market?

A) Lowered all interest rates to zero
B) Purchased stock above market value
C) Closed the New York Stock Exchange indefinitely
D) Forced companies to stop trading

29. What is the primary function of the U.S. Securities and Exchange Commission created after the crash?

A) To nationalize major U.S. banks
B) To prohibit market manipulation and insider trading
C) To manage agricultural price supports
D) To set industrial production quotas

30. What did Governor Franklin D. Roosevelt create on October 8, 1929, which some argue triggered the final crash?

A) Committee on Public Service Securities
B) Federal Reserve Oversight Board
C) Economic Recovery Task Force
D) New York Banking Commission

31. Which economist argued that the crash was tied to the Smoot-Hawley Tariff Act?

A) Scott Sumner
B) Harold Bierman, Jr.
C) Irving Fisher
D) Jude Wanniski

32. Who was the British Chancellor of the Exchequer that described American markets as a 'speculative orgy'?

A) Charles E. Mitchell
B) Philip Snowden
C) Roger Babson
D) Clarence Hatry

33. What practice was introduced by stock exchanges to limit panic selling?

A) Limiting the number of shares an individual can own
B) Requiring all stocks to be paid in cash
C) Banning short selling entirely
D) Suspending trading when prices fall rapidly

34. What was the main reason the public was attracted to stocks during the Roaring Twenties?

A) High guaranteed returns from brokers
B) Lack of other investment options like real estate
C) Government mandates to invest in stocks
D) Disappointment with low interest rates on bank deposits

35. What was the combined percentage decline of October 28–29, 1929?

A) 12.9%
B) 22.6%
C) 25%
D) 30%

Created with That Quiz — the site for test creation and grading in math and other subjects.