Tuesday, September 8, 2009

What's your Financial IQ?

Take the test to see how well you think through problems. I liked the second question especially. Then click through to see what the answers were and some of the conclusions drawn.


Take the Cognitive Reflection Test


Answer the following questions and then read on.


(1) A bat and a ball cost $1.10 in total. The bat costs $1.00 more than the ball. How much does the ball cost? _____ cents


(2) If it takes 5 machines 5 minutes to make 5 widgets, how long would it take 100 machines to make 100 widgets? _____ minutes


(3) In a lake, there is a patch of lily pads. Every day, the patch doubles in size. If it takes 48 days for the patch to cover the entire lake, how long would it take for the patch to cover half of the lake? _____ days