More than half of adults fail financial literacy test

April was crunch time for taxes, and while your personal numbers are fresh in mind, the financial services industry highlights a host of events and reminders about financial literacy and retirement planning.

So, do you feel smarter about money yet?

Releasing its annual index measuring financial literacy recently, researchers at the TIAA Institute said 52 percent of U.S. adults could not answer more than half of its financial literacy questions correctly.

Among respondents 45 and older, just 21 percent answered more than three-quarters of the questions correctly. And just 10 percent of adults younger than 45 answered more than 75 percent of the questions correctly.

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