It is currently 23 Oct 2017, 12:22

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# According to a recent study on financial roles, one-third of

Author Message
TAGS:

### Hide Tags

GMAT Club Legend
Joined: 01 Oct 2013
Posts: 10106

Kudos [?]: 264 [0], given: 0

Re: According to a recent study on financial roles, one-third of [#permalink]

### Show Tags

03 Jul 2015, 22:55
Hello from the GMAT Club VerbalBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.

Kudos [?]: 264 [0], given: 0

Intern
Joined: 11 May 2015
Posts: 4

Kudos [?]: 19 [0], given: 11

WE: Programming (Computer Software)
Re: According to a recent study on financial roles, one-third of [#permalink]

### Show Tags

24 Aug 2015, 22:19
The question does not mention anything about the number of students in both the studies. What if study 1 involved only 10 students whereas study 2 involved 100 students!?then c is wrong.So in this question should we assume that both the studies have same number of students!

Kudos [?]: 19 [0], given: 11

GMAT Club Legend
Joined: 01 Oct 2013
Posts: 10106

Kudos [?]: 264 [0], given: 0

Re: According to a recent study on financial roles, one-third of [#permalink]

### Show Tags

13 Dec 2015, 05:28
Hello from the GMAT Club VerbalBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.

Kudos [?]: 264 [0], given: 0

GMAT Club Legend
Joined: 01 Oct 2013
Posts: 10106

Kudos [?]: 264 [0], given: 0

Re: According to a recent study on financial roles, one-third of [#permalink]

### Show Tags

09 Oct 2016, 12:04
Hello from the GMAT Club VerbalBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.

Kudos [?]: 264 [0], given: 0

Math Forum Moderator
Status: Greatness begins beyond your comfort zone
Joined: 08 Dec 2013
Posts: 1531

Kudos [?]: 958 [0], given: 72

Location: India
Concentration: General Management, Strategy
GPA: 3.2
WE: Information Technology (Consulting)
Re: According to a recent study on financial roles, one-third of [#permalink]

### Show Tags

06 Jan 2017, 02:27
The number of high school seniors with significant financial responsibilities = 1/3 of total students = 33.33%

The number of seniors who have bounced a check. = number of seniors with bank accounts * 1/3 who have bounced a check = (80% of total students)/3 = 26.67%

C. The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.
_________________

When everything seems to be going against you, remember that the airplane takes off against the wind, not with it. - Henry Ford
The Moment You Think About Giving Up, Think Of The Reason Why You Held On So Long
+1 Kudos if you find this post helpful

Kudos [?]: 958 [0], given: 72

Manager
Joined: 06 Oct 2015
Posts: 54

Kudos [?]: 5 [0], given: 7

Re: According to a recent study on financial roles, one-third of [#permalink]

### Show Tags

06 Jan 2017, 08:43
Couldn't C be wrong for the following.

It's stated that one-third of high school seniors say that they have “significant financial responsibilities.” Subsequently, we are given a list of things that could constitute a significant financial responsibility, but that list ends with "among other things." Therefore we are never told explicitly if what the students say are significant financial responsibilities are actually significant financial responsibilities. For one student, they might categorize having sufficient money to spend \$40 a week on pizza and candy as a significant financial responsibility, when in all reality its not.

Option C forces you to assume that the number of student who say they actually have significant financial responsibilities is the same as those who actually have it. I ended up picking A instead, because it seemed the "least wrong" out of all of them.

Can someone give me some insight? Also what's the source of the Q?

Kudos [?]: 5 [0], given: 7

Director
Joined: 12 Dec 2016
Posts: 897

Kudos [?]: 11 [0], given: 865

Location: United States
GMAT 1: 700 Q49 V33
GPA: 3.64
Re: According to a recent study on financial roles, one-third of [#permalink]

### Show Tags

28 Jun 2017, 06:05
A cannot be the answer because there is no information about it is wise or not to take finance classes.

Kudos [?]: 11 [0], given: 865

VP
Status: Learning
Joined: 20 Dec 2015
Posts: 1073

Kudos [?]: 69 [0], given: 535

Location: India
Concentration: Operations, Marketing
GMAT 1: 670 Q48 V36
GRE 1: 314 Q157 V157
GPA: 3.4
WE: Manufacturing and Production (Manufacturing)
Re: According to a recent study on financial roles, one-third of [#permalink]

### Show Tags

28 Jun 2017, 10:19
chesstitans wrote:
A cannot be the answer because there is no information about it is wise or not to take finance classes.

Agree with you , but A is trap answer i think .
_________________

We are more often frightened than hurt; and we suffer more from imagination than from reality

Kudos [?]: 69 [0], given: 535

Intern
Joined: 11 Jun 2017
Posts: 32

Kudos [?]: 4 [0], given: 71

Re: According to a recent study on financial roles, one-third of [#permalink]

### Show Tags

28 Jun 2017, 17:45
It's a math question.

Assumes the total seniors are 90 people. According to the passage 1/3 of seniors which is 30 people feeling the financial responsibility. And in the next phrase saying 80% of senior which is 72 people have open back accounts and 1/3 of these seniors which is 24 people got bounced check.

Choice C, 30 people who feel financial responsibility > 24 people got bounced check. Hence C is correct.

Kudos [?]: 4 [0], given: 71

Retired Moderator
Joined: 13 Feb 2015
Posts: 816

Kudos [?]: 8 [0], given: 32

Re: According to a recent study on financial roles, one-third of [#permalink]

### Show Tags

06 Jul 2017, 08:07
Merged topics. Please, search before posting questions!
_________________

Kudos [?]: 8 [0], given: 32

Senior Manager
Joined: 15 Jan 2017
Posts: 282

Kudos [?]: 21 [0], given: 629

Re: According to a recent study on financial roles, one-third of [#permalink]

### Show Tags

15 Jul 2017, 10:37
Here is my reasoning. Would be glad to know any comments or corrections on the same:

According to a recent study on financial roles, one-third of high school seniors say that they have “significant financial responsibilities.” These responsibilities include, but are not limited to, contributing to food, shelter, or clothing for themselves or their families. At the same time, a second study demonstrates that a crisis in money management exists for high school students. According to this study, 80% of high school seniors have never taken a personal finance class even though the same percentage of seniors has opened bank accounts and one-third of these account holders has bounced a check.

Which of the following conclusions can be properly drawn from the statements above?
High schools would be wise to incorporate personal finance classes into their core curricula.
At least one-third of high school seniors work part-time jobs after school.
The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.
Any high school sen
iors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities.
The majority of high school students have no financial responsibilities to their families.

Now I picked C as it was more plausible in reality: premise 1) if 90 was the total, then 30 have responsibilities and premise 2) 80% 90 which is 72, and out of these 24 have had a bounced check. So, as 30> 24 C is right

Even so, I got stuck between E and C - both seem correct to me. E clearly states majority of the kids DON'T have financial responsibility, which is true : 60 students don't have financial responsibility, even though few of them would have bank accounts. C is also true 30> 24. So why is E not a correct conclusion?

Kudos [?]: 21 [0], given: 629

Intern
Joined: 11 Jan 2016
Posts: 4

Kudos [?]: 1 [0], given: 207

Location: India
Re: According to a recent study on financial roles, one-third of [#permalink]

### Show Tags

16 Aug 2017, 06:21
Option 1 assumes Correlation-Causation. (X) Personal Finance Class not taken, (Y) Cheques bounced. No evidence X is causing Y. Hence, uncertain that by dealing X Y will be taken care of.

Kudos [?]: 1 [0], given: 207

Intern
Joined: 08 Apr 2017
Posts: 1

Kudos [?]: 0 [0], given: 0

According to a recent study on financial roles, one-third of [#permalink]

### Show Tags

08 Oct 2017, 02:25
skovinsky wrote:
yossarian84 wrote:
According to a recent study on financial roles, one-third of high school seniors say that they have “significant financial responsibilities.” These responsibilities include, but are not limited to, contributing to food, shelter, or clothing for themselves or their families. At the same time, a second study demonstrates that a crisis in money management exists for high school students. According to this study, 80% of high school seniors have never taken a personal finance class even though the same percentage of seniors has opened bank accounts and one-third of these account holders has bounced a check.

Which of the following conclusions can be properly drawn from the statements above?
(A) High schools would be wise to incorporate personal finance classes into their core curricula.
(B) At least one-third of high school seniors work part-time jobs after school.
(C) The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.
(D) Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities.
(E) The majority of high school students have no financial responsibilities to their families.

OA after some discussion.

Here we have an inference question with lots of facts and figures. Since the answer to an inference question is something that MUST BE TRUE based on one or more of the pieces of information, we think to ourselves "I'll be able to draw concrete conclusions from the numbers, so there's an excellent chance that the correct answer will be a mathematical deduction."

Accordingly, let's start with the choices related to math, (B) and (C).

Quote:
(B) At least one-third of high school seniors work part-time jobs after school.

We know that 1/3 have significant financial responsibilities, but we have no info on how those students fulfil those duties. Accordingly, (B) is not a MUST BE TRUE and can be eliminated.

Quote:
(C) The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.

We know that 1/3 have significant responsibilities; we also know that 80% have opened a bank account and 1/3 of the 80% have bounced a cheque.

Is 1/3 of 100% > than 1/3 of 80%? YES! Accordingly, (C) MUST BE TRUE and is the correct answer to the question.

* * *

When you're practicing, you should review every answer choice to every question. So, although in a test situation we'd choose (C) and move on, let's go into "review mode" and take a quick look at the other 3 choices:

Quote:
(A) High schools would be wise to incorporate personal finance classes into their core curricula.

Nothing in the stimulus suggest that this is a MUST BE TRUE - we'd have to know a lot more about the educational system to evaluate the impact of (A) - eliminate.

Quote:
(D) Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities.

Just because those who have significant financial responsibilities contribute to food, shelter or clothing, that doesn't mean that the reverse is true. This is more of a classic LSAT trap (reversal of sufficiency and necessity, related to formal logic) than a GMAT one.

Quote:
(E) The majority of high school students have no financial responsibilities to their families.

Classic scope shift/too extreme trap - we know that 2/3 don't have "significant" financial responsibilities, but that's not the same as "no" financial responsibilities.

Nothing is given about check bounce status of remaining 20% people. What if combined number of people having bounced check is greater than 1/3 of total? Plz clarify

Kudos [?]: 0 [0], given: 0

Manager
Joined: 13 Apr 2016
Posts: 56

Kudos [?]: 11 [0], given: 61

WE: Information Technology (Retail Banking)
Re: According to a recent study on financial roles, one-third of [#permalink]

### Show Tags

08 Oct 2017, 10:43
skovinsky wrote:
yossarian84 wrote:
According to a recent study on financial roles, one-third of high school seniors say that they have “significant financial responsibilities.” These responsibilities include, but are not limited to, contributing to food, shelter, or clothing for themselves or their families. At the same time, a second study demonstrates that a crisis in money management exists for high school students. According to this study, 80% of high school seniors have never taken a personal finance class even though the same percentage of seniors has opened bank accounts and one-third of these account holders has bounced a check.

Which of the following conclusions can be properly drawn from the statements above?
(A) High schools would be wise to incorporate personal finance classes into their core curricula.
(B) At least one-third of high school seniors work part-time jobs after school.
(C) The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.
(D) Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities.
(E) The majority of high school students have no financial responsibilities to their families.

OA after some discussion.

Here we have an inference question with lots of facts and figures. Since the answer to an inference question is something that MUST BE TRUE based on one or more of the pieces of information, we think to ourselves "I'll be able to draw concrete conclusions from the numbers, so there's an excellent chance that the correct answer will be a mathematical deduction."

Accordingly, let's start with the choices related to math, (B) and (C).

Quote:
(B) At least one-third of high school seniors work part-time jobs after school.

We know that 1/3 have significant financial responsibilities, but we have no info on how those students fulfil those duties. Accordingly, (B) is not a MUST BE TRUE and can be eliminated.

Quote:
(C) The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.

We know that 1/3 have significant responsibilities; we also know that 80% have opened a bank account and 1/3 of the 80% have bounced a cheque.

Is 1/3 of 100% > than 1/3 of 80%? YES! Accordingly, (C) MUST BE TRUE and is the correct answer to the question.

* * *

When you're practicing, you should review every answer choice to every question. So, although in a test situation we'd choose (C) and move on, let's go into "review mode" and take a quick look at the other 3 choices:

Quote:
(A) High schools would be wise to incorporate personal finance classes into their core curricula.

Nothing in the stimulus suggest that this is a MUST BE TRUE - we'd have to know a lot more about the educational system to evaluate the impact of (A) - eliminate.

Quote:
(D) Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities.

Just because those who have significant financial responsibilities contribute to food, shelter or clothing, that doesn't mean that the reverse is true. This is more of a classic LSAT trap (reversal of sufficiency and necessity, related to formal logic) than a GMAT one.

Quote:
(E) The majority of high school students have no financial responsibilities to their families.

Classic scope shift/too extreme trap - we know that 2/3 don't have "significant" financial responsibilities, but that's not the same as "no" financial responsibilities.

Really good explanation, Thanks

Kudos [?]: 11 [0], given: 61

Re: According to a recent study on financial roles, one-third of   [#permalink] 08 Oct 2017, 10:43

Go to page   Previous    1   2   3   [ 54 posts ]

Display posts from previous: Sort by