Can You Ace FINRA's Financial Literacy Quiz?

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ofcmetz
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Re: Can You Ace FINRA's Financial Literacy Quiz?

Post by ofcmetz » Wed May 01, 2013 3:22 am

Fun test, thanks for the link. I got a 100%. Not bad for a cop.
Never underestimate the power of the force of low cost index funds.

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kenyan
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Re: Can You Ace FINRA's Financial Literacy Quiz?

Post by kenyan » Wed May 01, 2013 9:57 am

I did ace it. I guess that's a good thing, since I had friends stating last week that they just look to me when they have personal finance questions. Agreed that this would be easy for a typical Boglehead, but probably pretty difficult for the average American. My wife is highly intelligent, but doesn't pay much attention to these sorts of things - I doubt she would score above 50%.
Retirement investing is a marathon.

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Hexdump
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Re: Can You Ace FINRA's Financial Literacy Quiz?

Post by Hexdump » Wed May 01, 2013 11:02 am

This is really good and I agree with you Nis. I stopped for a bit after reading that one.

I am also using the test for another purpose.

One of my concerns about when I pass is leaving the management of our assets in my wifes hands when she doesn't have a clue.
I gave her the test and she got 66%. She is going to have to improve so we won't need to hire a money manager.

Are there others like this that I could use or put together into a lesson plan ?
I didn't read the whole thread to see if there are others.

thanks

investingdad
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Re: Can You Ace FINRA's Financial Literacy Quiz?

Post by investingdad » Wed May 01, 2013 12:11 pm

Random Musings wrote:What about WIP inventory? Or wireless Internet protocol? Or the WIP ETF?

It's not too late
To whip it
Whip it good.......

RM
Devo. True then, true today.

:mrgreen:

Grt2bOutdoors
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Re: Can You Ace FINRA's Financial Literacy Quiz?

Post by Grt2bOutdoors » Wed May 01, 2013 1:23 pm

investingdad wrote:
Random Musings wrote:What about WIP inventory? Or wireless Internet protocol? Or the WIP ETF?

It's not too late
To whip it
Whip it good.......

RM
Devo. True then, true today.

:mrgreen:
Not bad for boys from Ohio.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

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Colin
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Re: Can You Ace FINRA's Financial Literacy Quiz?

Post by Colin » Wed May 01, 2013 3:57 pm

Another 100% here.
Colin

scone
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Re: Can You Ace FINRA's Financial Literacy Quiz?

Post by scone » Wed May 01, 2013 4:10 pm

100% I assumed they were looking for superficial answers, not deep thought. I can do that. :D
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Abe
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Re: Can You Ace FINRA's Financial Literacy Quiz?

Post by Abe » Thu May 02, 2013 2:17 pm

I scored 100%. On question #15, I was not sure if the correct answer was A or C. I picked A (College) and got it right. Lucky me. :happy

A Section 529 Plan is a tax-advantaged way to save for:
A.College
B.Retirement
C.Long-term health care
D.Don't know/Not sure
Slow and steady wins the race.

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Hat
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Re: Can You Ace FINRA's Financial Literacy Quiz?

Post by Hat » Thu May 02, 2013 3:14 pm

14/15 here

I missed the one about short selling.

technovelist
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Re: Can You Ace FINRA's Financial Literacy Quiz?

Post by technovelist » Thu May 02, 2013 5:08 pm

100% in about 90 seconds.
In theory, theory and practice are identical. In practice, they often differ.

lightheir
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Re: Can You Ace FINRA's Financial Literacy Quiz?

Post by lightheir » Thu May 02, 2013 5:27 pm

As easy as that quiz was, it's a tragic shame that I'll wager that over 95% of college graduates about to deal with these very issues in their first year of employment, would do terribly on this examination because it's never covered anywhere in typical curricula in high schools or colleges despite it really being really basic (and important) fundamental type concepts of personal finance.

FRANK2009
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Re: Can You Ace FINRA's Financial Literacy Quiz?

Post by FRANK2009 » Thu May 02, 2013 5:39 pm

Another 100% here too. Look out Warren Buffet!

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