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Another financial literacy test
03-26-2015, 10:45 AM
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#1
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,698
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Another financial literacy test
In this thread lots of posts asking for a more challenging test. Here's one Quiz Your Economic Literacy and See How You Rank Against Your Peers
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In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could.”
― Rudiger Dornbusch
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03-26-2015, 10:57 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Apr 2012
Location: Nashville
Posts: 2,506
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Bah. only 95%, but [initially] disagree with the scoring (question 16). [On second thought, the government workers do benefit as well--as long as one doesn't net out the inefficiencies, the answer postulated is correct, I suppose.]
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OMY * 3 2ish Done 7.28.17
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03-26-2015, 11:02 AM
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#3
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,340
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17 of 20 (85%). 2 of the ones I missed I second guessed myself and changed my answer from a correct answer to an incorrect answer and 1 question I misread.
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If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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03-26-2015, 11:03 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Dec 2014
Location: St. Charles
Posts: 3,915
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95% here as well, though the one I got wrong was because I mis-read the question.
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If your not living on the edge, you're taking up too much space.
Never slow down, never grow old!
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03-26-2015, 11:06 AM
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#5
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Recycles dryer sheets
Join Date: Jun 2010
Location: Sac suburb
Posts: 437
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20 out of 20! 
I'm kind of surprised, actually.
But then, I've always been good at multiple-choice tests. Back in my HS days I won the Betty Crocker Homemaker of Tomorrow award at my school, simply because I performed best on a multi-choice test. Even back then, I thought it was hilarious that I won. And if you ever see my homemaker skilz (or lack thereof) you'd know that test was not what one would call predictive. 
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03-26-2015, 11:08 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Apr 2012
Location: Nashville
Posts: 2,506
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Much better quiz than the other, and actually somewhat heartening results--average of 70%, with (FWIW) average stated age of 24 years old.
But what is with the gender skew  49,992 (M) to 44 (F)?? seems mighty unlikely and makes me distrust a bit...
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OMY * 3 2ish Done 7.28.17
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03-26-2015, 11:09 AM
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#7
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Jul 2006
Posts: 11,401
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95%. I got question 1 wrong. But then I don't like fast food!
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03-26-2015, 11:10 AM
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#8
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: South central PA
Posts: 3,485
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I missed the first one--I guess I think of all fast food as low quality.... 18/20 here.
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03-26-2015, 11:11 AM
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#9
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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See, we ex pediatricians think alike! 
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03-26-2015, 11:15 AM
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#10
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Dryer sheet aficionado
Join Date: Jun 2013
Posts: 37
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"You answered 19 out of 20 correct for a 95%". I only got the first question wrong 
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03-26-2015, 11:18 AM
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#11
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Recycles dryer sheets
Join Date: Dec 2006
Posts: 293
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Scored 95. Thanks for the link.
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03-26-2015, 11:19 AM
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#12
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Recycles dryer sheets
Join Date: Aug 2013
Posts: 484
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Toot-Toot! Yeah, I aced it.
From the stats over the last two years, I see the average score is 70%. Apparently not the same demographics as the other test.
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03-26-2015, 11:20 AM
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#13
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Thinks s/he gets paid by the post
Join Date: Feb 2013
Location: Toronto
Posts: 3,321
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20 for 20. And the summary statistics do look a wee bit odd. I was one of only 24 'unemployed' people out of 60,000?
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03-26-2015, 11:21 AM
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#14
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Full time employment: Posting here.
Join Date: Dec 2006
Location: chicago burbs
Posts: 806
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100% here
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03-26-2015, 11:22 AM
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#15
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Recycles dryer sheets
Join Date: Jun 2010
Location: Sac suburb
Posts: 437
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That first question is tricky -- I doubt many people associate fast food with high quality. That was one of the questions I asked myself "what would they want me to answer?". 
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03-26-2015, 11:24 AM
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#16
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2013
Posts: 11,078
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 Quote:
Originally Posted by 6miths
20 for 20. And the summary statistics do look a wee bit odd. I was one of only 24 'unemployed' people out of 60,000?
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Me too I was one of 24. Something funny with stats.
Missed 1st one too, not sure if I agree with the correct answer. Oh well.
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03-26-2015, 11:25 AM
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#17
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Recycles dryer sheets
Join Date: Mar 2005
Posts: 161
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95% as well. I also missed the first question. 
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Well, Helen; shall we just go home?
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03-26-2015, 11:26 AM
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#18
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Aug 2013
Location: Texas
Posts: 10,925
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Quote:
Originally Posted by MichaelB
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This test was better. I missed the very first question but got all the others for a 95% grade. (The first one was about the number of fast food restaurants and the quality of their food.) IMO, they didn't have the right answer, which in my experience has been higher prices and lower quality.
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03-26-2015, 11:28 AM
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#19
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Jul 2006
Posts: 11,401
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Quote:
Originally Posted by Car-Guy
This test was better. I missed the very first question but got all the others for a 95% grade. (The first one was about the quality of food at fast food restaurants.) They didn't have the right answer IMO which in my experience has been higher prices and lower quality.
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That was my thought too. Perhaps auto body shops would have been a better example.
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03-26-2015, 11:32 AM
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#20
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Recycles dryer sheets
Join Date: Jun 2010
Location: Sac suburb
Posts: 437
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Quote:
Originally Posted by Meadbh
That was my thought too. Perhaps auto body shops would have been a better example.
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I agree. That's how I arrived at my answer, I figured they were asking in terms of generic providers of goods & services, rather than Arby's vs KFC.
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