financial literacy test

Can you pass a financial literacy test almost half of adults fail?

According to a new study, over half of all Americans fail a financial literacy test that includes three essential questions about interest rates, inflation, and risk. A test of 3,000 participants, weighted to be nationally representative, revealed that 20% got no answers correct, while another 24% only received one correct response. According to research conducted by investment firm Abrdn, 30% passed by correctly answering two questions, while 26% aced the test.