Financial Knowledge Test

[mickeyd]

Everyone here will get 100% on this 5 question test and it will make you feel good to max it.

Financial Knowledge Test | RAND

 

[pb4uski]

The scary thing is at the end it says that only 1 in 10 people who take it get 100%.

 

[Walt34]

Aw c'mon, give us a challenge. That one put me to sleep and I got them all right.

 

[aaronc879]

That may be the first time in my life I got 100% on a test.

 

[SJ1_]

The scary thing is at the end it says that only 1 in 10 people who take it get 100%.

that was my thought. sad

 

[Richard4444]

Wow - I'm in the top 10 per cent !

 

[Theseus]

gradjeated in the top decile of my class

Actually was even somewhat happily surprised that the individual questions, except for the bonds vs. interest rates were around 2/3 correct by the masses, but wow, such a low percentage getting them all correct in the light of that erases a glimmer of hope.

 

[mickeyd]

Wow - I'm in the top 10 per cent !

Are you in the top 10% because you post here or do you post here because you are in the top 10%?

 

[38Chevy454]

Another 10 percenter here! .....the top 10% that is

 

[scrabbler1]

I got 5 out of 5, too. But that wasn't until I first scored a zero because the dang questions did not appear LOL!

 

[Car-Guy]

Aw c'mon, give us a challenge. That one put me to sleep and I got them all right.

+1 Took less than a minute to take the test and that's because I was looking for a trick question. Pretty simple, must have been designed for kids in junior high school

 

[aaronc879]

+1 Took less than a minute to take the test and that's because I was looking for a trick question. Pretty simple, must have been designed for kids in junior high school

It wasn't THAT easy. A couple years ago I wouldn't have know the answer to the question about bond values in relation to interest rates. I only found out about that from reading this forum. It's not something the average person would know unless they seek out financial information.

 

[tmm99]

The scary thing is at the end it says that only 1 in 10 people who take it get 100%.

+1 Especially because I know almost nothing in comparison to the folks here and I still made the top 10%.

 

[tmm99]

Are you in the top 10% because you post here or do you post here because you are in the top 10%?

Let me ponder that for a moment...

Was it I who was dreaming that I was a butterfly, or it was the butterfly who was dreaming to be me? (Zhuang Zhou)

 

[Car-Guy]

It wasn't THAT easy. A couple years ago I wouldn't have know the answer to the question about bond values in relation to interest rates. I only found out about that from reading this forum. It's not something the average person would know unless they seek out financial information.

I asked the DW to take the test (I know, very risky) She doesn't read this forum, invest in the market, balance the checkbook, etc and she got 100%. Now I'll admit, she said she guessed on the bond question.

 

[aaronc879]

I asked the DW to take the test (I know, very risky) She doesn't read this forum, invest in the market, balance the checkbook, etc and she got 100%. Now I'll admit, she said she guessed on the bond question.

The bond question is the only one that should be difficult for the lay-person. The rest are just very basic math any adult should be able to do with ease.

 

[ERD50]

The bond question is the only one that should be difficult for the lay-person. The rest are just very basic math any adult should be able to do with ease.

Agreed - I wouldn't really expect someone to know the bond question unless they actually dug into the investment world.

It really didn't fit with the others.

-ERD50

 

[scrabbler1]

The bond question is the only one that should be difficult for the lay-person. The rest are just very basic math any adult should be able to do with ease.

+1 (or is +2 or +3 by now?)

 

[travelover]

If the percentage of people that got each question right is accurate, I'm not so sure that replacing Social Security with individual retirement accounts is such a good idea.

 

[pb4uski]

Or perhaps we just need more financial education. I'd bet that regular readers of Kiplinger's Personal Finance or Money magazine would ace that test.

 

[travelover]

Or perhaps we just need more financial education. I'd bet that regular readers of Kiplinger's Personal Finance or Money magazine would ace that test.

Yup. And the rest are busy following Kim Kardahian's latest publicity stunt or watching WWW wrestling.

 

[Backpacker]

The more of us from this forum that take and ace the test - maybe we will push up the average .

 

[jim584672]

Those questions are a joke, way too easy.

 

[FIREdToBeExpat]

Aw c'mon, give us a challenge. That one put me to sleep and I got them all right.

Got 5 out of 5 right. Agree with Walt34, this community needs tougher questions for sure

 

[MichaelB]

Lots of requests for a more challenging test, so I looked for one and posted it in a new thread. http://www.early-retirement.org/forums/f28/another-financial-literacy-test-76559.html#post1574203 Folks can continue with this, then take take the other.