[quote]samdan wrote:
My two cents on this exam:
I DO think that a lot of it is formula memorization and unit conversion. Do I know the exact formula for interest and discount off the top of my head? Hell no. Do you know the formula for deformation of a load-bearing member as a function of it’s physical properties and size? I do. Those financial formulas might be basic for the kinds of people who deal with money, but my formula is the most basic for those dealing with materials under load.
That being said, I understand the concepts for every single question being asked and, if given a reference, I could do that whole test in under 20 minutes. I have a degree in Engineering, for fuck’s sake… I can do algebra without pausing my masturbation.
Going to Bill’s example, I couldn’t answer most of those because I don’t have much financial knowledge. I pay off my credit card every month, don’t carry a balance, and I know who to ask if I have an important decision to make.
Yes, financial knowledge is important. But being that I’m spending time learning how to design buildings that will support loads that would make your head spin and I haven’t had to deal with financial stuff much, I’d rather just find what I need when I need it than go out of my way to learn all kinds of things I might never deal with, or might only deal with once in my life.[/quote]
You completely missed the point of the bantering going on in the last few pages. These finance questions require zero memorization. All that is required is a basic definition of interest and knowing how long a year is. If you know even the basics of these subjects you can answer this question without memorizing a thing.
Your example does not work well. While you may know a lot about designing buildings and why they are constructed in the fashion that they are so that the loads can be supported properly, can you tell me off the top of your head the span for a 2x10 redwood joist, and the proper beam size if I have a 12’ wide deck and only want to pour two piers? I highly doubt it, but if you are as qualified as you put on then I’m sure you know the general principles behind this and can find a chart or formula in no time at all, but guess what? I rarely deal with these things, but since I also have a basic understading of construction principles and loads, I can just as easily find the chart or formula. These things are not at all necessary for these questions.
Furthermore, the test could have asked about compound interest and annuities and even thrown in a variable annuity and it still would not have required memorization. A thorough understading of these subjects would allow one to derive the proper formulas on the spot. Of course, this is a more advanced subject that may be pushing it for the average eighth grader, but it still shows how little memorization is required for many of these subjects.
I always got a real kick out of physics in college for this reason. The majority of the students spent countless hours trying to memorize all sorts of formulas, especially for the basic things like velocity and acceleration when all that is really necessary is KNOWING how to calculate a derivative and doing some basic algebra and one should be able to derive any of these formulas at the drop of a hat.
I went around and around with a chemistry teacher way back in high school when it came to basic stoichiometry, even once flunking a test where I got every single answer correct (God bless public schools). She insisted that I must make a little diagram with a bunch of boxes and make sure I cross out all my units and then just multiply straight across. I said screw it, set up my own equalities, and just did a series of algebraic calculations. Why? Because I had the basic understanding of what I needed to figure out, and knew the algebra and theory behind it. I then asked her if the other students knew why they were just putting numbers in boxes, crossing out units and multiplying. I didn’t get an answer.