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Is it even possible

sadolite
Posts: 9,085
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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...
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Skepsikyma
Posts: 8,884
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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: 9,085
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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.
I am not what you think I am. You ARE what you think I am

Jesus loves you but I'm his favorite
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
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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: 9,067
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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
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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.
"We have this consolation with us, that the harder the conflict, the more glorious the triumph. " - Thomas Paine
sadolite
Posts: 9,085
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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.
I am not what you think I am. You ARE what you think I am

Jesus loves you but I'm his favorite
Wylted
Posts: 21,680
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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.