# Block: Cognitive tests [Wave 2] - **Element Type:** Block - **Block Type:** Standard - **Block Name:** Cognitive tests ## Questions In This Block: :::{dropdown} Question QID241 :animate: fade-in **Question Type:** Descriptive **Question Text:** You are now going to answer 20 questions that will test your financial literacy as well as your performance on various cognitive tests. ::: :::{dropdown} Question QID36 :animate: fade-in **Question Type:** Multiple Choice **Question Text:** Do you think that the following statement is true or false? "A 15-year mortgage typically requires higher monthly payments than a 30-year mortgage, but the total interest paid over the life of the loan will be less." **Options:** * True * False ::: :::{dropdown} Question QID37 :animate: fade-in **Question Type:** Multiple Choice **Question Text:** Imagine that the interest rate on your saving account was 1% per year and inflation was 2% per year. After 1 year, would you be able to buy: **Options:** * More than today with the money on this account * Exactly the same as today with the money in this account * Less than today with the money in this account * Do not know ::: :::{dropdown} Question QID38 :animate: fade-in **Question Type:** Multiple Choice **Question Text:** Normally, which asset described below displays the highest fluctuations over time? **Options:** * Savings account * Stocks * Bonds * Do not know ::: :::{dropdown} Question QID39 :animate: fade-in **Question Type:** Multiple Choice **Question Text:** Do you think that the following statement is true or false? "If you were to invest $1,000 in a stock mutual fund, it would be possible to have less than $1,000 when you withdraw your money." **Options:** * True * False ::: :::{dropdown} Question QID40 :animate: fade-in **Question Type:** Multiple Choice **Question Text:** When an investor spreads their money among different assets, the risk of losing a lot of money: **Options:** * Increases * Decreases * Stays the same * Do not know ::: :::{dropdown} Question QID41 :animate: fade-in **Question Type:** Multiple Choice **Question Text:** Considering a long time period (for example 10 or 20 years), which asset described below normally gives the highest return? **Options:** * Savings account * Stocks * Bonds * Do not know ::: :::{dropdown} Question QID42 :animate: fade-in **Question Type:** Multiple Choice **Question Text:** Do you think that the following statement is true or false? "After age 70 and a half, you have to withdraw at least some money from your 401(k) plan or IRA." **Options:** * True * False ::: :::{dropdown} Question QID43 :animate: fade-in **Question Type:** Text Entry **Question Text:** Suppose you owe $3,000 on your credit card. You pay a minimum payment of $30 each month. At an Annual Percentage Rate of 12% (or 1% per month), how many years would it take to eliminate your credit card debt if you made no additional new charges? Enter a number of years, or "never" if the debt will never be eliminated. ::: :::{dropdown} Question QID44 :animate: fade-in **Question Type:** Text Entry **Question Text:** Imagine that we roll a fair, six-sided die 1,000 times. Out of 1,000 rolls, how many times do you think the die would come up as an even number? Which is the most likely outcome? Enter a number from 0 to 1,000. ::: :::{dropdown} Question QID45 :animate: fade-in **Question Type:** Text Entry **Question Text:** In the BIG BUCKS LOTTERY, the chance of winning a $10.00 prize is 1%. What is your best guess about how many people would win a $10.00 prize if 1,000 people each buy a single ticket from BIG BUCKS? Enter a number from 0 to 1,000. ::: :::{dropdown} Question QID46 :animate: fade-in **Question Type:** Text Entry **Question Text:** If the chance of getting a disease is 20 out of 100, this would be the same as having a [blank]% chance of getting the disease. Enter a percentage from 0 to 100. ::: :::{dropdown} Question QID47 :animate: fade-in **Question Type:** Text Entry **Question Text:** In the ACME PUBLISHING SWEEPSTAKES, the chance of winning a car is 1 in 1,000. What percent of tickets of ACME PUBLISHING SWEEPSTAKES win a car? Enter a percentage from 0 to 100. ::: :::{dropdown} Question QID48 :animate: fade-in **Question Type:** Text Entry **Question Text:** If the chance of getting a disease is 10%, how many people would be expected to get the disease out of 1,000? Enter a number from 0 to 1,000. ::: :::{dropdown} Question QID49 :animate: fade-in **Question Type:** Text Entry **Question Text:** If it takes 5 machines 5 minutes to make 5 widgets, how long would it take 100 machines to make 100 widgets? Enter a number of minutes. ::: :::{dropdown} Question QID50 :animate: fade-in **Question Type:** Text Entry **Question Text:** A bat and ball cost $1.10 in total. The bat costs $1.00 more than the ball. How much does the ball cost? Enter a number in dollars. ::: :::{dropdown} Question QID51 :animate: fade-in **Question Type:** Text Entry **Question Text:** 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? Enter a number of days. ::: :::{dropdown} Question QID217 :animate: fade-in **Question Type:** Multiple Choice **Question Text:** You are now going to receive a series of four problems. You must decide whether the stated conclusion follows logically from the premises or not. You must suppose that the premises are all true and limit yourself only to the information contained in these premises. Premise 1: If there is a postal strike, then unemployment will double. Premise 2: There is a postal strike. Conclusion: Unemployment will double. Does the conclusion follow logically from the premises ? **Options:** * Yes * No ::: :::{dropdown} Question QID218 :animate: fade-in **Question Type:** Multiple Choice **Question Text:** Premise 1: If the winter is harsh, then there will be a flu epidemic. Premise 2: The winter is harsh. Conclusion: There will be a flu epidemic. Does the conclusion follow logically from the premises ? **Options:** * Yes * No ::: :::{dropdown} Question QID219 :animate: fade-in **Question Type:** Multiple Choice **Question Text:** Premise 1: If a car is a Honda, then it is expensive. Premise 2: A car is a Honda. Conclusion: The car is expensive. Does the conclusion follow logically from the premises ? **Options:** * Yes * No ::: :::{dropdown} Question QID220 :animate: fade-in **Question Type:** Multiple Choice **Question Text:** Premise 1: If a person eats hamburgers, then they will get cancer. Premise 2: A person eats hamburgers. Conclusion: The person will get cancer. Does the conclusion follow logically from the premises ? **Options:** * Yes * No :::