By SIMON CONSTABLE
NEW YORK ( TheStreet)-- It turns out that Federal Reserve employees really are smarter than the rest of us about finance, but a majority of them would still benefit from reviewing the textbooks periodically. And that's a lesson for everyone else.
The findings are from a new report by the National Bureau of Economic Researchtitled, " Employee Financial Literacy and Retirement Plan Behavior: A Case Study." The study, conducted in 2013, used five questions to test the knowledge of 3,357 Fed employees, approximately 16% of the total Federal Reserve System workforce.
On the first three questions, which were considered relatively basic, the Fed employees easily surpassed the achievement of the general population with a much higher proportion of correct answers for the same questions.
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