You will be asked each of the 57 questions aired during the November 30, 2004 episode of Jeopardy! (an episode that featured an entire round of Seinfeld-themed questions). You'll be given the category as well as the dollar value of the question.
Answer the question correctly, and you'll add money to your winnings. Answer it incorrectly, and you'll lose that much money. You're trying to win more than $8,799, which was Jennings's score at the end of this episode.
All of the questions are multiple choice. There are Daily Doubles, but you can only earn or lose as much as the contestant on the show wagered at the time. (Ken Jennings landed on all of the Daily Doubles in this episode.) But on Daily Doubles, you can still choose not to buzz in and you won't lose anything.