Merrill Economics Test - What to expect

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Aug 8, 2007 1:32 pm

I am taking the Merrill basic economics aptitude test tomorrow. Is there any way to prepare and what should I expect?

Aug 8, 2007 2:31 pm

That depends.  Are you a man or woman?

Aug 8, 2007 2:37 pm

A woman…but surely there isn’t a different test based on gender.

Aug 8, 2007 2:41 pm

The test is the same, the results might not be.

A man finds an item he wants, but waits for it to be 30% off.  Thus saving 30%.

A woman goes shopping for stuff she doesn't know she needs when there is a 30% off sale. Thus spending 70%.

We're wired differently.

Aug 8, 2007 6:08 pm

[quote=Laurenwoods17]A woman...but surely there isn't a different test based on gender.[/quote]

It's a joke.  They created it as a gauge to see how you'll do on the 7.

The personality test will ask you about a couple of different behavioral and economic theories.  Both of those are bogus and designed to see if you'll lie and answer "Yes I am familiar with that theory"

Aug 8, 2007 6:17 pm

Just brush up on “basic” math and economics.  Some of the math was so “simple” I had forgot how to do it from grade school.  Adding fractions multiplying decimals, determining % changes in numbers, stuff like that.

Aug 8, 2007 6:18 pm

Don't forget FOIL.  You'll also have to use the quadratic equation.

Aug 8, 2007 10:26 pm

Mine was mostly on Game Theory.  I was amazed I could only write 12 pages on it.

Don't stress at all about the tests.  If you have taken algebra and economics at some point in life you will be fine.  The tests measure if you stand a chance to pass the 7 and whether you have the personality to succeed in this profession.  It will be the easiest test you take at ML, besides the insurance.