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Is it even possible

sadolite
Posts: 9,568
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3/12/2015 8:30:49 PM
Posted: 2 years ago
I can't belive 55% of people with college degrees fail this 3 question test on fiscal literacy. it just doesn't seem possible. This is basic basic basic basic stuff.

http://time.com...
Skepsikyma
Posts: 9,342
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3/12/2015 8:36:24 PM
Posted: 2 years ago
At 3/12/2015 8:30:49 PM, sadolite wrote:
I can't belive 55% of people with college degrees fail this 3 question test on fiscal literacy. it just doesn't seem possible. This is basic basic basic basic stuff.

http://time.com...

That's just sad. I would be able to answer those regardless of whether or not I went to college, because they're just math and basic logic.
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sadolite
Posts: 9,568
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3/13/2015 2:20:44 PM
Posted: 2 years ago
At 3/12/2015 8:36:24 PM, Skepsikyma wrote:
At 3/12/2015 8:30:49 PM, sadolite wrote:
I can't belive 55% of people with college degrees fail this 3 question test on fiscal literacy. it just doesn't seem possible. This is basic basic basic basic stuff.

http://time.com...

That's just sad. I would be able to answer those regardless of whether or not I went to college, because they're just math and basic logic.

It's not sad it's frightening.
Voxol
Posts: 23
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3/13/2015 2:41:05 PM
Posted: 2 years ago
It isn't even asking you to calculate anything, do these people even know what "Interest" and "Inflation" are?
Dazz
Posts: 1,172
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3/17/2015 12:44:56 AM
Posted: 2 years ago
At 3/12/2015 8:30:49 PM, sadolite wrote:
I can't belive 55% of people with college degrees fail this 3 question test on fiscal literacy. it just doesn't seem possible. This is basic basic basic basic stuff.

http://time.com...

I tested my knowledge and finished with surety of answers without affirmation. I thought how this could be possible for one, not being able to answer them right. But I remember, before studying "Financial Management and Economics", concepts of time value of money, purchasing power and mutual fund risk diversification were also alien to me. So I think it's possible for the majority to get them wrong before they're introduced to these "BASIC" concepts as every person doesn't put attention to these things necessarily in routine.
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Diqiucun_Cunmin
Posts: 2,753
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3/18/2015 12:19:38 PM
Posted: 2 years ago
The first one is basic maths, but I don't see how the second (involves the Fisher equation - unless you consider that basic?) or the third (I'm not even sure what those English phrases meant; I just guessed based on the meanings of the separate words, and concluded that 'mutual' would spread the risk whilst 'single' wouldn't) are common sense...
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The-Voice-of-Truth
Posts: 9,588
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3/18/2015 12:21:50 PM
Posted: 2 years ago
At 3/12/2015 8:30:49 PM, sadolite wrote:
I can't belive 55% of people with college degrees fail this 3 question test on fiscal literacy. it just doesn't seem possible. This is basic basic basic basic stuff.

http://time.com...

Wow. I knew all 3 of those answers.
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21MolonLabe
Posts: 336
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3/18/2015 1:16:16 PM
Posted: 2 years ago
At 3/12/2015 8:30:49 PM, sadolite wrote:
I can't belive 55% of people with college degrees fail this 3 question test on fiscal literacy. it just doesn't seem possible. This is basic basic basic basic stuff.

http://time.com...

That is sad. If I can answer them, a college graduate/student should be able to answer it.
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sadolite
Posts: 9,568
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3/18/2015 6:51:33 PM
Posted: 2 years ago
At 3/18/2015 1:16:16 PM, 21MolonLabe wrote:
At 3/12/2015 8:30:49 PM, sadolite wrote:
I can't belive 55% of people with college degrees fail this 3 question test on fiscal literacy. it just doesn't seem possible. This is basic basic basic basic stuff.

http://time.com...

That is sad. If I can answer them, a college graduate/student should be able to answer it.

How one could even make it into college without being to answer them is mindboggling. They should make this the entrance exam.
Wylted
Posts: 24,304
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3/18/2015 7:23:34 PM
Posted: 2 years ago
At 3/12/2015 8:30:49 PM, sadolite wrote:
I can't belive 55% of people with college degrees fail this 3 question test on fiscal literacy. it just doesn't seem possible. This is basic basic basic basic stuff.

http://time.com...

I know what answer they are looking for in number 3, but it is debatable.