I got 4/5. Oops! This isn't a terrible score, but I am an economics major. If I got an 80%, it must be harder for others without educational experience in an economics/business background to understand banking and lending. This stuff can be trick and it is scary to think that people are taking out loans/ making investments when they do not understand the system.
I'm not sure how I felt about the quiz. I thought it was really easy but I have taken an investment course and have talked about this stuff in multiple econ courses. I could see how this could be difficult to the uneducated. I believe that they should go over the daily financial stuff you experience over your lifetime in high school. At least the very basics, I think this would really help
I agree with Bianca and Shane, because while these may seem relatively simple to us, obviously a lot of people didn't know the answers to at least 2 of these questions, and dealing with the financial system without knowing anything about it can be very dangerous.
I'm happy to say that I am above average! However, what does that really show? If the majority of the country isn't scoring 100% on this financial literacy quiz, what does that say about our country's priorities and what people know about their financial system. It's extremely dangerous, as mentioned before.
I did get 5/5, but the most shocking part is seeing the national averages. At least Americans admit when they don't know something a lot.
ReplyDeleteI got 4/5. Oops! This isn't a terrible score, but I am an economics major. If I got an 80%, it must be harder for others without educational experience in an economics/business background to understand banking and lending. This stuff can be trick and it is scary to think that people are taking out loans/ making investments when they do not understand the system.
ReplyDeleteI'm not sure how I felt about the quiz. I thought it was really easy but I have taken an investment course and have talked about this stuff in multiple econ courses. I could see how this could be difficult to the uneducated. I believe that they should go over the daily financial stuff you experience over your lifetime in high school. At least the very basics, I think this would really help
ReplyDeleteI agree with Bianca and Shane, because while these may seem relatively simple to us, obviously a lot of people didn't know the answers to at least 2 of these questions, and dealing with the financial system without knowing anything about it can be very dangerous.
ReplyDeleteI'm happy to say that I am above average! However, what does that really show? If the majority of the country isn't scoring 100% on this financial literacy quiz, what does that say about our country's priorities and what people know about their financial system. It's extremely dangerous, as mentioned before.
ReplyDelete