Most Americans Fail This Simple 3-Question Financial Quiz. Can You Pass It ?

[Betallsports]

Following are three questions. If you’ve been around the financial block a few times, you’ll probably find all of them easy to answer. Most Americans didn’t get them right, though, reflecting poor financial literacy. That’s a shame — because, unsurprisingly, the more you know about financial matters and money management, the better you can do at saving and investing, and the more comfortable your retirement will probably be.


Here are the questions — see if you know the answers.


Suppose you had $100 in a savings account and the interest rate was 2% per year. After five years, how much do you think you would have in the account if you left the money to grow? (A) More than $102. (B) Exactly $102. (C) Less than $102.



Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. After one year, how much would you be able to buy with the money in this account? (A) More than today. (B) Exactly the same. (C) Less than today.



Please tell me whether this statement is true or false: Buying a single company’s stock usually provides a safer return than a stock mutual fund.

 

[wilbur]

1- a
2- c
3- false

 

[packer2012]

Nice wilbur. Not to criticize, but does not even seem needed to honor these with a stated answer.

I feel sure that what Bet states is accurate...... but seems amazing how absolutely stupid average people have become these days.

The first two questions are what amounts to the math version of .... "How to you spell CAT?"

 

[CHOPTALK]

I refuse to believe most people fail these questions

 

[shdw01]

I doubt MOST get these questions wrong....i can see a lot getting one or two wrong, and a lot more misreading a question and getting it wrong

(i.e. reading interest is 1 year or 5 months instead of 5 years)

 

[HarryCaray]

I thought the first question was going to ask exactly how much you would have, which would be trickier cause they don't specify how often it is compounded.

But yes these are ridiculously easy.

 

[Acebb]

I refuse to believe most people fail these questions

[h=1]76% of Americans are living paycheck-to-paycheck[/h]
And:

[h=1]Nearly Half Of Americans Have Less Than $500 In Savings[/h]

Don't be at all surprised.

 

[HarryCaray]

76% of Americans are living paycheck-to-paycheck


And:

Nearly Half Of Americans Have Less Than $500 In Savings



Don't be at all surprised.

Poor and retarded are not necessarily the same thing.

 

[packer2012]

I am afraid many people would not even know how to begin to consider an answer for the first two..... if it were not for the multiple choice (multiple guess?)

And Chop..... hope you are alright after the powers-that-be down your way let Drew's best target leave town.

 

[packer2012]

And...... Harry...... retarded and just flat assed ignorant are far different things as well.

 

[C.P.]

I was confused w/ these questions....

there was no shoot NES in the head...answer...:think2:

 

[Redagger029]

1- a
2- c
3- false

+1 Same answers.

 

[Redagger029]

I doubt MOST get these questions wrong....i can see a lot getting one or two wrong, and a lot more misreading a question and getting it wrong

(i.e. reading interest is 1 year or 5 months instead of 5 years)

I would of said the same thing untill recently. My new polling place to vote was this high school. Walked into the classroom and on the wall was all the letters of the alphabet. They were teaching the frigging alphabet to these high school kids. Now I'm sure you can come up with all kind of reasons and excuses but the alphabet was not on the wall when I went to high school.

 

[wilbur]

I would of said the same thing untill recently. My new polling place to vote was this high school. Walked into the classroom and on the wall was all the letters of the alphabet. They were teaching the frigging alphabet to these high school kids. Now I'm sure you can come up with all kind of reasons and excuses but the alphabet was not on the wall when I went to high school.

Maybe you were in the wheelchair and helmet room

 

[MotorMouth]

It doesnt surprise me at all.
There are tons of smart people BUT a SHIT TON of dumb ones.

When I see people needing to use a calculator to fiqure out 10 percent tax I know
things are going downhill.

 

[Murphy8276]

The first two questions are what amounts to the math version of .... "How to you spell CAT?"

hilarious


-murph

 

[JohnnyMac]

76% of Americans are living paycheck-to-paycheck


And:

Nearly Half Of Americans Have Less Than $500 In Savings



Don't be at all surprised.

And this is because we have too many unions!

 

[Redagger029]

Maybe you were in the wheelchair and helmet room

No one was in a wheelchair or wearing a helmet. This was not a "special class". Just a damn waste of tax dollars.

 

[The Guesser]

I refuse to believe most people fail these questions

Do you ever watch the person in the street segments on various shows? It's amazing the easy stuff that you would think every living American adult would know, but they don't.

 

[trytrytry]

well if you pay $2 monthly mailing statement fees the answers for one is different!!