diff --git a/tests/test_LoaderChain.py b/tests/test_LoaderChain.py
new file mode 100644
index 0000000000000000000000000000000000000000..80dcdb2e828bb4b85b2f420a7b4ef3b08f46bfb9
--- /dev/null
+++ b/tests/test_LoaderChain.py
@@ -0,0 +1,71 @@
+import io
+
+import pytest
+
+import oxrlib.loaders
+
+from . import any_date
+
+SUCCESS_S = '"success"\n'
+ERROR = oxrlib.loaders.LoaderNoDataError("test")
+
+class FakeLoader:
+    def __init__(self, result):
+        self.result = result
+
+    def _respond(self, *args, **kwargs):
+        return io.StringIO(self.result)
+
+    def __getattr__(self, name):
+        return self._respond
+
+
+class FakeErrorLoader(FakeLoader):
+    def __init__(self, error):
+        self.error = error
+
+    def _respond(self, *args, **kwargs):
+        raise self.error
+
+
+@pytest.fixture
+def lchain():
+    return oxrlib.loaders.LoaderChain()
+
+@pytest.fixture
+def good_loader():
+    return FakeLoader(SUCCESS_S)
+
+@pytest.fixture
+def error_loader():
+    return FakeErrorLoader(ERROR)
+
+def test_no_loaders(lchain, any_date):
+    try:
+        lchain.historical(any_date, 'USD')
+    except oxrlib.loaders.NoLoadersError:
+        pass
+    else:
+        assert False, "expected NoLoadersError not raised"
+
+def test_one_with_success(lchain, any_date, good_loader):
+    lchain.add_loader(good_loader)
+    response = lchain.historical(any_date, 'USD')
+    assert response.read(32) == SUCCESS_S
+
+def test_two_with_success(lchain, any_date, good_loader, error_loader):
+    lchain.add_loader(error_loader)
+    lchain.add_loader(good_loader)
+    response = lchain.historical(any_date, 'USD')
+    assert response.read(32) == SUCCESS_S
+
+@pytest.mark.parametrize('count', [1, 2])
+def test_no_success(lchain, any_date, error_loader, count):
+    for _ in range(count):
+        lchain.add_loader(error_loader)
+    try:
+        lchain.historical(any_date, 'USD')
+    except type(ERROR) as error:
+        assert error is ERROR
+    else:
+        assert False, "{} not raised".format(type(ERROR).__name__)