1 USA 1919 – 41 Exam Technique © OG Scott Question 1(d) Explain the effects of the fall in value of shares on Wall Street during 1928 and marks Example Answer Level One (1-2 marks) Simple or generalised statements of consequence. There was an economic collapse, and people lost their money. One simple statement, 1 mark. The Great Depression began when it was difficult to find work. Two simple statements, 2 marks. In this question the examiner will be assessing: Recall of knowledge (can you the remember relevant facts?) Consequence (can you explain how the consequences were linked together?) Top Tip Notice how each of the level 1 answers gives an unexplained consequence of the fall in the value of shares. See how the statements are supported by some description that will earn marks for knowledge and understanding. For level 2, you need to “explain” the effects, or results more fully.

2 USA 1919 – 41 Exam Technique © OG Scott Question 1(d) Explain the effects of the fall in value of shares on Wall Street during 1928 and marks Example Answer Level Two (3-5 marks) Developed statements of consequence. (The student supports statement(s) with relevant contextual knowledge.) There was an economic collapse as people lost confidence when the value of shares fell. Millions lost their savings and their homes when they could not pay their mortgages. 3 marks for one developed statement. Because people had bought shares “on the margin” they could not repay their loans to the banks. When savers lost confidence and tried to withdraw their savings, banks collapsed. The lack of confidence meant that people did not spend money and employers began to lay-off workers, leading to long-term unemployment. 4-5 marks for two or more developed statements. In this question the examiner will be assessing: Recall of knowledge (can you the remember relevant facts?) Consequence (can you explain how the consequences were linked together?) Top Tip Notice how the level 2 answers explain results of the Wall Street Crash. See how they focus on actually answering the question by using the wording of the question, in this case, “effects of the fall in value of shares” Explaining the effects in this way will earn a level 2 mark.

3 USA 1919 – 41 Exam Technique © OG Scott Question 1(d) Explain the effects of the fall in value of shares on Wall Street during 1928 and marks Example Answer Level Three (6-8 marks) Developed explanation of consequence(s). (An explanation of consequence supported by selected knowledge.) As big investors lost confidence they began to sell their shares. During October 1929 this trickle of selling became a torrent of sales as investors panicked and as they were desperate to sell at any price, millions of dollars were wiped off of the value of shares in the Wall Street Crash. Investors who had taken out loans to buy shares “on the margin” were unable to pay repay these loans and Banks faced a shortage of cash. At the same time the value of property began to fall as the Banks repossessed peoples’ homes. 6-7 marks for two or more explained factors. The shortage of cash caused a run on the Banks as worried investors rushed to withdraw their savings. Some banks were forced to close, adding to the panic as people lost their life’s savings. In this atmosphere people were unwilling to spend money or to risk depositing money in Banks and these banks could not make the loans that business needed to recover from the Depression. 7-8 marks for two causes linked to the outcome. Award 8 marks to an answer which prioritises causes or demonstrates how they combined to produce the outcome. Top Tip Carefully read this Level 3 answer. Notice how it includes the same facts as in levels 1 and 2, but now explains them in a way that answers the actual question about the fall in the value of shares. Look back to the wording of the question to find the key words “explain the effects”. It becomes an 8 mark answer where the fall in the value of shares is linked together with the Wall Street Crash. By focusing on explaining how things actually changed and by linking the changes together, you will earn the full 8 marks.