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A large portion of Americans do not have the requisite personal finance knowledge that lets them make sound financial decisions, according to a new study.

Fifty-two percent of U.S. adults correctly answered questions on the 2020 edition of the Personal Finance Index commissioned by the TIAA Institute and the Global Financial Literacy Excellence Center (GFLEC) at The George Washington School of Business. Additionally, 53% of the adult respondents answered at least half of the questions correctly.

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