Take the Financial Literacy Quiz, how do you do?

[Raduque]

I got 5/5. Guessed on the bonds one. The rest were easy, but the first one threw me off with the wording.

I'm clueless when it comes to the finances market.

 

[Krazy4Real]

I got 4 out 5. 4 of the questions are completely obvious, but I had no clue on the one about bonds vs interest rates. I don't even know what bonds are exactly.

same for me.

 

[alkemyst]

If anyone misses any of those questions they should be kicked in the nards.

I got 5 out of 5, but I don't think most would know the stock vs mutual fund nor how bonds and interest rates work.

Simple interest and mortgages should be a given for anyone.

 

[alkemyst]

I got 5/5. Guessed on the bonds one. The rest were easy, but the first one threw me off with the wording.

I'm clueless when it comes to the finances market.

IMHO if one just guesses that's the same as missing the question.

 

[ultimatebob]

Don't forget... when interest rates go up, bonds go down. They are no longer the only "safe" investment game in town when federal treasuries start paying a decent return again.

 

[alkemyst]

Since the answers are now discussed here, anyone that doesn't score at least 5/5 is possibly illiterate.

 

[Imp]

5/5

Bond one tricked me up, but remembered during the shit recession, the worst of it at least, bonds were the "shelter". If people shelter, high demand, price goes up, meanwhile quantitative easing + stupidly low interest rates to "help businesses borrow".

 

[pete6032]

Test writer clearly fails at proof reading and English comprehension.

Suppose you have $100 in a savings account earning 2 percent interest a year

It's "per year", not "a year."

 

[Imp]

Definitely. Better writers are a dime a dozen.

 

[gorcorps]

Test writer clearly fails at proof reading and English comprehension.



It's "per year", not "a year."

query: did you understand the question?

answer: yes you did

conclusion: proper level of communication was achieved, everything else is unnecessary and inefficient

 

[SithSolo1]

You got 5 correct answers out of 5

Although I made educated guesses on the last two.

 

[Miramonti]

Since the answers are now discussed here, anyone that doesn't score at least 5/5 is possibly illiterate.

or, most likely, ADD.

 

[edro]

5/5, although I had to talk myself through the interest/bonds one.

"It's harder to borrow money...soooo....there should be less incentive to buy bonds...."

 

[UglyCasanova]

5/5, so why am I broke?!

 

[Sho'Nuff]

5/5. Only one I had to think about was the bond prices question.

 

[Sho'Nuff]

5/5, so why am I broke?!

Financial literacy is not an indicator of financial success.

 

[pcgeek11]

5 of 5 here.

3 out of 4 young folks (millennials) failed.

^^ They must be pretty dumb as those were really easy questions.

 

[RossMAN]

6/5

 

[Greenman]

I got 4 out 5. 4 of the questions are completely obvious, but I had no clue on the one about bonds vs interest rates. I don't even know what bonds are exactly.

Thats the one I missed.

 

[Midwayman]

I missed the bond one too. I've never dealt with them.

I figured as interest rate raise, the return on bonds rises as well (This is true isn't it? I know CD rates, etc change with interest rate.) And the price of a bond with better return would be higher.

 

[HardcoreRobot]

5/5, i could see why some people wouldn't know the bond one

 

[radtechtips]

5/5

Edit: guess I'm that 1/4

 

[Kev]

I got the bond one wrong. Honestly I don't know WTF a bond is nor do I care.

 

[Mr. Pedantic]

Don't forget... when interest rates go up, bonds go down. They are no longer the only "safe" investment game in town when federal treasuries start paying a decent return again.

out of interest...why?

 

[SlitheryDee]

I got the bond one wrong. Honestly I don't know WTF a bond is nor do I care.

I know that Die Hard was about Alan Rickman stealing bearer bonds. I can't figure out how tying up the bearers was going to get him on a beach earning 20% though.