Simple Financial IQ Test
This Test Was Given to 3,400 College Kids to Test Financial Prowess
We found this IQ test from Shane Frederick, an MIT assistant professor, and we were impressed with its results. Basically, it's a simplified IQ test that tries to predict whether or not you will be good at things like managing money. To find out if you have what it takes to manage your money, take the test below. When you're done, scroll down to see the answers.
Question 1: A bat and a ball cost $1.10 in total. The bat costs $1 more than the ball. How much does the ball cost?
Question 2: If it takes five machines five minutes to make five widgets, how long would it take 100 machines to make 100 widgets?
Question 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 the lake?
Scroll down for the answers:
Answers: $1.05, 5 minutes, 47 days
See Also: Financial Calculators