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Wall Street crash of 1929 - Quiz
Contributed by: Crossley
  • 1. When did the sharp, unexpected decline in stock prices begin?
A) October 29
B) October 24
C) October 23
D) October 28
  • 2. What was the market value drop on the afternoon of October 23?
A) 11%
B) 4.6%
C) 12.82%
D) 23.05%
  • 3. Which date is referred to as 'Black Thursday'?
A) October 28
B) October 29
C) October 23
D) October 24
  • 4. How much of its value did the market lose at the opening bell on October 24?
A) 23.05%
B) 12.82%
C) 4.6%
D) 11%
  • 5. Who was the acting head of Morgan Bank that met to address the market panic?
A) Richard Whitney
B) Albert Wiggin
C) Thomas W. Lamont
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) Albert Wiggin
D) Charles E. Mitchell
  • 7. What company's shares did Richard Whitney bid on to stabilize the market?
A) U.S. Steel
B) National City Bank
C) Morgan Bank
D) Chase National Bank
  • 8. Which date is referred to as 'Black Monday'?
A) October 24
B) October 29
C) October 30
D) October 28
  • 9. What was the Dow's record loss percentage on October 28?
A) 4.6%
B) 11%
C) 23.05%
D) 12.82%
  • 10. Approximately how many shares were traded on 'Black Tuesday'?
A) 3 million
B) 10 million
C) 16 million
D) 25,000
  • 11. How much stock value was lost on Black Tuesday?
A) $14 billion
B) $205 million
C) $68 billion
D) $2 billion
  • 12. Who joined members of the Rockefeller family to buy stocks on October 29?
A) Richard Whitney
B) William C. Durant
C) Albert Wiggin
D) Thomas W. Lamont
  • 13. When did the market reach its lowest level of the 20th century?
A) November 23, 1954
B) October 29, 1929
C) April 17, 1930
D) July 8, 1932
  • 14. What was the Dow index value on July 8, 1932?
A) 198.60
B) 294.07
C) 41.22
D) 217.28
  • 15. When did the Dow finally return to its September 3, 1929 peak?
A) July 8, 1932
B) March 15, 1933
C) April 17, 1930
D) November 23, 1954
  • 16. What percentage of the index was lost from the peak to the low point in 1932?
A) 89.2%
B) 23.05%
C) 12.82%
D) 11.73%
  • 17. What was the Dow closing price on November 13, 1929?
A) 217.28
B) 258.47
C) 198.60
D) 294.07
  • 18. What is the common name for the Wall Street crash of 1929?
A) The Big Slump
B) The Market Meltdown
C) The Banking Panic
D) The Great Crash
  • 19. What was the peak value of the Dow Jones Industrial Average on September 3, 1929?
A) 381.17
B) 300.00
C) 410.25
D) 250.50
  • 20. What percentage of its pre-crash value had the stock market lost by July 8, 1932?
A) 25%
B) 75%
C) 50%
D) 90%
  • 21. Which act separated commercial and investment banking?
A) Federal Reserve Act
B) Securities Act of 1933
C) Banking Act of 1933
D) Securities Exchange Act of 1934
  • 22. Who famously predicted in September 1929 that 'a crash is coming, and it may be terrific'?
A) Roger Babson
B) Franklin D. Roosevelt
C) Irving Fisher
D) Charles E. Mitchell
  • 23. Which economist famously claimed that stock prices had reached a 'permanently high plateau' shortly before the crash?
A) Roger Babson
B) Scott Sumner
C) Irving Fisher
D) Harold Bierman, Jr.
  • 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) A small crash after Federal Reserve warnings
C) The Smoot-Hawley Tariff Act passing
D) The bankruptcy of the National City Bank
  • 26. What major sector of the economy was depressed due to overproduction and falling prices before the crash?
A) Service sector
B) Technology sector
C) Entertainment sector
D) Agricultural 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) Purchased stock above market value
B) Closed the New York Stock Exchange indefinitely
C) Forced companies to stop trading
D) Lowered all interest rates to zero
  • 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 prohibit market manipulation and insider trading
D) To manage agricultural price supports
  • 30. What did Governor Franklin D. Roosevelt create on October 8, 1929, which some argue triggered the final crash?
A) Federal Reserve Oversight Board
B) Committee on Public Service Securities
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) Harold Bierman, Jr.
B) Scott Sumner
C) Jude Wanniski
D) Irving Fisher
  • 32. Who was the British Chancellor of the Exchequer that described American markets as a 'speculative orgy'?
A) Roger Babson
B) Clarence Hatry
C) Charles E. Mitchell
D) Philip Snowden
  • 33. What practice was introduced by stock exchanges to limit panic selling?
A) Banning short selling entirely
B) Limiting the number of shares an individual can own
C) Suspending trading when prices fall rapidly
D) Requiring all stocks to be paid in cash
  • 34. What was the main reason the public was attracted to stocks during the Roaring Twenties?
A) Lack of other investment options like real estate
B) High guaranteed returns from brokers
C) Disappointment with low interest rates on bank deposits
D) Government mandates to invest in stocks
  • 35. What was the combined percentage decline of October 28–29, 1929?
A) 30%
B) 12.9%
C) 22.6%
D) 25%
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