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

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

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

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

A) 11%
B) 12.82%
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) Charles E. Mitchell
C) Thomas W. Lamont
D) Albert Wiggin

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

21. Which act separated commercial and investment banking?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

A) Closed the New York Stock Exchange indefinitely
B) Lowered all interest rates to zero
C) Purchased stock above market value
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 set industrial production quotas
C) To manage agricultural price supports
D) To prohibit market manipulation and insider trading

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

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

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

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

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

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

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

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

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

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

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

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

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