WLS Codebooks
Note: Codebooks contain frequency data from the private data release. For some variables, these differ from the frequencies in the public release. Variables that differ between the public and private versions include "(not available on public release)" as part of the variable description, or a note indicating the difference between the public and private versions.
Mail: Financial Matters
Graduate Mail: Financial Matters Module OVERVIEW The Financial Matters Module is new to the 2011 mail survey. It relies on 12 statements about finance - constructed in terms of money management, banking, and investing - to gauge the participant's opinions and their level of confidence in those opinions. For each statement, the participant is asked to indicate whether they believe it to be more generally true or false by circling a scaled percentage ranging between 50 and 100 representing the likelihood or confidence they associate with its perceived truth or falsehood. If, for example, the participant considered the statement "mutual funds do not pay a guaranteed rate of return" to be generally true, but still had some reservations, they might circle 80 to signify a belief that it is 80% likely to be true. If the participant thinks a statement is surely true or false, they are instructed to circle 100, indicating 100% confidence in its likelihood of being such. If, on the other hand, the participant is completely unsure and has "no idea" whether a statement is true or false, they are instructed to make their best possible guess and circle 50, signifying a bare minimum 50% confidence in their opinion of its truth or falsehood. Whether a statement is, in actuality, true or false is not important here; the section is simply intended as a gauge of participants' opinions on financial matters. BRIEF VARIABLE DESCRIPTIONS Variable ranges reference dataset/codebook order and are not necessarily alphabetical. _____________________________________________________________________ JFIN01RE-JFIN12RE: Perceived Truth or Falsehood of Statements About Financial Matters
jfin01re: Mutual funds do not pay a guaranteed rate of return - true or false?
Data source: Graduate Participant or Proxy
Collected in: 2011
Mode: Mail
Source variables: y_fin1_1, yfin1_a
Frequencies | ||||
---|---|---|---|---|
Value | Label | Male | Female | Total |
. | System missing - NR | 2513 | 2413 | 4926 |
-29 | LEFT BLANK ON SAQ | 337 | 564 | 901 |
-27 | NOT ASKED OF PROXY | 13 | 14 | 27 |
-4 | NOT ASCERTAINED | 93 | 82 | 175 |
-3 | REFUSED | 6 | 10 | 16 |
-1 | DON'T KNOW | 12 | 28 | 40 |
0 | SURELY FALSE - 100% CONFIDENT | 195 | 196 | 391 |
10 | 90% CONFIDENT FALSE | 59 | 73 | 132 |
20 | 80% CONFIDENT FALSE | 54 | 72 | 126 |
30 | 70% CONFIDENT FALSE | 40 | 66 | 106 |
40 | 60% CONFIDENT FALSE | 38 | 52 | 90 |
49 | GUESS FALSE - 50% CONFIDENT | 139 | 229 | 368 |
51 | GUESS TRUE - 50% CONFIDENT | 114 | 238 | 352 |
60 | 60% CONFIDENT TRUE | 61 | 78 | 139 |
70 | 70% CONFIDENT TRUE | 81 | 115 | 196 |
80 | 80% CONFIDENT TRUE | 129 | 188 | 317 |
90 | 90% CONFIDENT TRUE | 202 | 208 | 410 |
100 | SURELY TRUE - 100% CONFIDENT | 905 | 700 | 1605 |
jfin02re: You should invest in either mutual funds or a large number of different stocks instead of just a few stocks - true or false?
Data source: Graduate Participant or Proxy
Collected in: 2011
Mode: Mail
Source variables: y_fin1_2, y_fin1_b
Frequencies | ||||
---|---|---|---|---|
Value | Label | Male | Female | Total |
. | System missing - NR | 2513 | 2413 | 4926 |
-29 | LEFT BLANK ON SAQ | 330 | 546 | 876 |
-27 | NOT ASKED OF PROXY | 13 | 14 | 27 |
-4 | NOT ASCERTAINED | 100 | 80 | 180 |
-3 | REFUSED | 6 | 10 | 16 |
-1 | DON'T KNOW | 9 | 22 | 31 |
0 | SURELY FALSE - 100% CONFIDENT | 71 | 87 | 158 |
10 | 90% CONFIDENT FALSE | 26 | 29 | 55 |
20 | 80% CONFIDENT FALSE | 29 | 48 | 77 |
30 | 70% CONFIDENT FALSE | 36 | 46 | 82 |
40 | 60% CONFIDENT FALSE | 40 | 32 | 72 |
49 | GUESS FALSE - 50% CONFIDENT | 95 | 154 | 249 |
51 | GUESS TRUE - 50% CONFIDENT | 106 | 205 | 311 |
60 | 60% CONFIDENT TRUE | 107 | 116 | 223 |
70 | 70% CONFIDENT TRUE | 188 | 182 | 370 |
80 | 80% CONFIDENT TRUE | 306 | 383 | 689 |
90 | 90% CONFIDENT TRUE | 324 | 332 | 656 |
100 | SURELY TRUE - 100% CONFIDENT | 692 | 627 | 1319 |
jfin03re: Using money in a bank savings account to pay off credit card debt is usually a bad idea - true or false?
Data source: Graduate Participant or Proxy
Collected in: 2011
Mode: Mail
Source variables: y_fin1_3, y_fin1_c
Frequencies | ||||
---|---|---|---|---|
Value | Label | Male | Female | Total |
. | System missing - NR | 2513 | 2413 | 4926 |
-29 | LEFT BLANK ON SAQ | 315 | 516 | 831 |
-27 | NOT ASKED OF PROXY | 13 | 14 | 27 |
-4 | NOT ASCERTAINED | 96 | 79 | 175 |
-3 | REFUSED | 4 | 10 | 14 |
-1 | DON'T KNOW | 5 | 12 | 17 |
0 | SURELY FALSE - 100% CONFIDENT | 708 | 633 | 1341 |
10 | 90% CONFIDENT FALSE | 236 | 232 | 468 |
20 | 80% CONFIDENT FALSE | 187 | 215 | 402 |
30 | 70% CONFIDENT FALSE | 115 | 118 | 233 |
40 | 60% CONFIDENT FALSE | 51 | 71 | 122 |
49 | GUESS FALSE - 50% CONFIDENT | 71 | 141 | 212 |
51 | GUESS TRUE - 50% CONFIDENT | 59 | 121 | 180 |
60 | 60% CONFIDENT TRUE | 49 | 65 | 114 |
70 | 70% CONFIDENT TRUE | 72 | 102 | 174 |
80 | 80% CONFIDENT TRUE | 133 | 151 | 284 |
90 | 90% CONFIDENT TRUE | 126 | 120 | 246 |
100 | SURELY TRUE - 100% CONFIDENT | 238 | 313 | 551 |
jfin04re: Financially, investing in the stock market is no better than buying lottery tickets - true or false?
Data source: Graduate Participant or Proxy
Collected in: 2011
Mode: Mail
Source variables: y_fin1_4, y_fin1_d
Frequencies | ||||
---|---|---|---|---|
Value | Label | Male | Female | Total |
. | System missing - NR | 2513 | 2413 | 4926 |
-29 | LEFT BLANK ON SAQ | 319 | 527 | 846 |
-27 | NOT ASKED OF PROXY | 13 | 14 | 27 |
-4 | NOT ASCERTAINED | 78 | 75 | 153 |
-3 | REFUSED | 5 | 10 | 15 |
-1 | DON'T KNOW | 5 | 12 | 17 |
0 | SURELY FALSE - 100% CONFIDENT | 861 | 674 | 1535 |
10 | 90% CONFIDENT FALSE | 287 | 272 | 559 |
20 | 80% CONFIDENT FALSE | 214 | 262 | 476 |
30 | 70% CONFIDENT FALSE | 162 | 218 | 380 |
40 | 60% CONFIDENT FALSE | 88 | 118 | 206 |
49 | GUESS FALSE - 50% CONFIDENT | 115 | 241 | 356 |
51 | GUESS TRUE - 50% CONFIDENT | 90 | 150 | 240 |
60 | 60% CONFIDENT TRUE | 45 | 84 | 129 |
70 | 70% CONFIDENT TRUE | 28 | 57 | 85 |
80 | 80% CONFIDENT TRUE | 52 | 65 | 117 |
90 | 90% CONFIDENT TRUE | 23 | 45 | 68 |
100 | SURELY TRUE - 100% CONFIDENT | 93 | 89 | 182 |
jfin05re: When an investor spreads money between 20 stocks, rather than 2, the risk of losing a lot of money decreases - true or false?
Data source: Graduate Participant or Proxy
Collected in: 2011
Mode: Mail
Source variables: y_fin1_5, y_fin1_e
Frequencies | ||||
---|---|---|---|---|
Value | Label | Male | Female | Total |
. | System missing - NR | 2513 | 2413 | 4926 |
-29 | LEFT BLANK ON SAQ | 326 | 570 | 896 |
-27 | NOT ASKED OF PROXY | 13 | 14 | 27 |
-4 | NOT ASCERTAINED | 77 | 64 | 141 |
-3 | REFUSED | 5 | 10 | 15 |
-1 | DON'T KNOW | 4 | 15 | 19 |
0 | SURELY FALSE - 100% CONFIDENT | 64 | 76 | 140 |
10 | 90% CONFIDENT FALSE | 32 | 38 | 70 |
20 | 80% CONFIDENT FALSE | 34 | 70 | 104 |
30 | 70% CONFIDENT FALSE | 33 | 65 | 98 |
40 | 60% CONFIDENT FALSE | 27 | 41 | 68 |
49 | GUESS FALSE - 50% CONFIDENT | 76 | 161 | 237 |
51 | GUESS TRUE - 50% CONFIDENT | 108 | 242 | 350 |
60 | 60% CONFIDENT TRUE | 114 | 133 | 247 |
70 | 70% CONFIDENT TRUE | 202 | 232 | 434 |
80 | 80% CONFIDENT TRUE | 338 | 343 | 681 |
90 | 90% CONFIDENT TRUE | 364 | 344 | 708 |
100 | SURELY TRUE - 100% CONFIDENT | 661 | 495 | 1156 |
jfin06re: Taxes do not affect how you should invest your money - true or false?
Data source: Graduate Participant or Proxy
Collected in: 2011
Mode: Mail
Source variables: y_fin1_6, y_fin1_f
Frequencies | ||||
---|---|---|---|---|
Value | Label | Male | Female | Total |
. | System missing - NR | 2513 | 2413 | 4926 |
-29 | LEFT BLANK ON SAQ | 334 | 580 | 914 |
-27 | NOT ASKED OF PROXY | 13 | 14 | 27 |
-4 | NOT ASCERTAINED | 78 | 64 | 142 |
-3 | REFUSED | 5 | 10 | 15 |
-1 | DON'T KNOW | 5 | 19 | 24 |
0 | SURELY FALSE - 100% CONFIDENT | 565 | 499 | 1064 |
10 | 90% CONFIDENT FALSE | 214 | 209 | 423 |
20 | 80% CONFIDENT FALSE | 261 | 215 | 476 |
30 | 70% CONFIDENT FALSE | 180 | 185 | 365 |
40 | 60% CONFIDENT FALSE | 81 | 108 | 189 |
49 | GUESS FALSE - 50% CONFIDENT | 110 | 236 | 346 |
51 | GUESS TRUE - 50% CONFIDENT | 97 | 171 | 268 |
60 | 60% CONFIDENT TRUE | 60 | 69 | 129 |
70 | 70% CONFIDENT TRUE | 110 | 129 | 239 |
80 | 80% CONFIDENT TRUE | 111 | 130 | 241 |
90 | 90% CONFIDENT TRUE | 81 | 105 | 186 |
100 | SURELY TRUE - 100% CONFIDENT | 173 | 170 | 343 |
jfin07re: If you start out with $1,000 and earn an average return of 10% per year for 30 years, after compounding, the initial $1,000 will have grown to more than $6,000 - true or false?
Data source: Graduate Participant or Proxy
Collected in: 2011
Mode: Mail
Source variables: y_fin1_7, y_fin1_g
Frequencies | ||||
---|---|---|---|---|
Value | Label | Male | Female | Total |
. | System missing - NR | 2513 | 2413 | 4926 |
-29 | LEFT BLANK ON SAQ | 368 | 686 | 1054 |
-27 | NOT ASKED OF PROXY | 13 | 14 | 27 |
-4 | NOT ASCERTAINED | 77 | 60 | 137 |
-3 | REFUSED | 5 | 10 | 15 |
-1 | DON'T KNOW | 5 | 24 | 29 |
0 | SURELY FALSE - 100% CONFIDENT | 147 | 179 | 326 |
10 | 90% CONFIDENT FALSE | 23 | 36 | 59 |
20 | 80% CONFIDENT FALSE | 21 | 46 | 67 |
30 | 70% CONFIDENT FALSE | 32 | 40 | 72 |
40 | 60% CONFIDENT FALSE | 22 | 25 | 47 |
49 | GUESS FALSE - 50% CONFIDENT | 65 | 152 | 217 |
51 | GUESS TRUE - 50% CONFIDENT | 98 | 217 | 315 |
60 | 60% CONFIDENT TRUE | 60 | 92 | 152 |
70 | 70% CONFIDENT TRUE | 82 | 122 | 204 |
80 | 80% CONFIDENT TRUE | 190 | 225 | 415 |
90 | 90% CONFIDENT TRUE | 235 | 235 | 470 |
100 | SURELY TRUE - 100% CONFIDENT | 1035 | 750 | 1785 |
jfin08re: Buying a single company stock usually provides a safer return than a stock mutual fund - true or false?
Data source: Graduate Participant or Proxy
Collected in: 2011
Mode: Mail
Source variables: y_fin2_8, y_fin2_h
Frequencies | ||||
---|---|---|---|---|
Value | Label | Male | Female | Total |
. | System missing - NR | 2513 | 2413 | 4926 |
-29 | LEFT BLANK ON SAQ | 364 | 646 | 1010 |
-27 | NOT ASKED OF PROXY | 13 | 14 | 27 |
-4 | NOT ASCERTAINED | 63 | 57 | 120 |
-3 | REFUSED | 5 | 9 | 14 |
-1 | DON'T KNOW | 7 | 28 | 35 |
0 | SURELY FALSE - 100% CONFIDENT | 699 | 528 | 1227 |
10 | 90% CONFIDENT FALSE | 304 | 269 | 573 |
20 | 80% CONFIDENT FALSE | 269 | 306 | 575 |
30 | 70% CONFIDENT FALSE | 204 | 192 | 396 |
40 | 60% CONFIDENT FALSE | 145 | 165 | 310 |
49 | GUESS FALSE - 50% CONFIDENT | 197 | 388 | 585 |
51 | GUESS TRUE - 50% CONFIDENT | 74 | 149 | 223 |
60 | 60% CONFIDENT TRUE | 27 | 44 | 71 |
70 | 70% CONFIDENT TRUE | 33 | 29 | 62 |
80 | 80% CONFIDENT TRUE | 30 | 42 | 72 |
90 | 90% CONFIDENT TRUE | 22 | 22 | 44 |
100 | SURELY TRUE - 100% CONFIDENT | 22 | 25 | 47 |
jfin09re: Even older retired people should hold some stocks - true or false?
Data source: Graduate Participant or Proxy
Collected in: 2011
Mode: Mail
Source variables: y_fin2_9, y_fin2_i
Frequencies | ||||
---|---|---|---|---|
Value | Label | Male | Female | Total |
. | System missing - NR | 2513 | 2413 | 4926 |
-29 | LEFT BLANK ON SAQ | 352 | 594 | 946 |
-27 | NOT ASKED OF PROXY | 13 | 14 | 27 |
-4 | NOT ASCERTAINED | 71 | 62 | 133 |
-3 | REFUSED | 5 | 9 | 14 |
-1 | DON'T KNOW | 4 | 16 | 20 |
0 | SURELY FALSE - 100% CONFIDENT | 91 | 117 | 208 |
10 | 90% CONFIDENT FALSE | 33 | 38 | 71 |
20 | 80% CONFIDENT FALSE | 34 | 58 | 92 |
30 | 70% CONFIDENT FALSE | 50 | 55 | 105 |
40 | 60% CONFIDENT FALSE | 42 | 44 | 86 |
49 | GUESS FALSE - 50% CONFIDENT | 151 | 247 | 398 |
51 | GUESS TRUE - 50% CONFIDENT | 227 | 353 | 580 |
60 | 60% CONFIDENT TRUE | 196 | 206 | 402 |
70 | 70% CONFIDENT TRUE | 203 | 190 | 393 |
80 | 80% CONFIDENT TRUE | 316 | 302 | 618 |
90 | 90% CONFIDENT TRUE | 236 | 232 | 468 |
100 | SURELY TRUE - 100% CONFIDENT | 454 | 376 | 830 |
jfin10re: An older person with $100,000 to invest should hold riskier financial investments than a younger person with $100,000 to invest - true or false?
Data source: Graduate Participant or Proxy
Collected in: 2011
Mode: Mail
Source variables: y_fin2_10, y_fin2_j
Frequencies | ||||
---|---|---|---|---|
Value | Label | Male | Female | Total |
. | System missing - NR | 2513 | 2413 | 4926 |
-29 | LEFT BLANK ON SAQ | 351 | 594 | 945 |
-27 | NOT ASKED OF PROXY | 13 | 14 | 27 |
-4 | NOT ASCERTAINED | 63 | 64 | 127 |
-3 | REFUSED | 5 | 9 | 14 |
-1 | DON'T KNOW | 3 | 17 | 20 |
0 | SURELY FALSE - 100% CONFIDENT | 1258 | 1231 | 2489 |
10 | 90% CONFIDENT FALSE | 264 | 298 | 562 |
20 | 80% CONFIDENT FALSE | 154 | 171 | 325 |
30 | 70% CONFIDENT FALSE | 99 | 99 | 198 |
40 | 60% CONFIDENT FALSE | 39 | 60 | 99 |
49 | GUESS FALSE - 50% CONFIDENT | 99 | 200 | 299 |
51 | GUESS TRUE - 50% CONFIDENT | 27 | 42 | 69 |
60 | 60% CONFIDENT TRUE | 13 | 17 | 30 |
70 | 70% CONFIDENT TRUE | 17 | 19 | 36 |
80 | 80% CONFIDENT TRUE | 21 | 24 | 45 |
90 | 90% CONFIDENT TRUE | 17 | 14 | 31 |
100 | SURELY TRUE - 100% CONFIDENT | 35 | 40 | 75 |
jfin11re: It is important to take a look at your investments periodically to see if you need to make changes - true or false?
Data source: Graduate Participant or Proxy
Collected in: 2011
Mode: Mail
Source variables: y_fin2_11, y_fin2_k
Frequencies | ||||
---|---|---|---|---|
Value | Label | Male | Female | Total |
. | System missing - NR | 2513 | 2413 | 4926 |
-29 | LEFT BLANK ON SAQ | 346 | 570 | 916 |
-27 | NOT ASKED OF PROXY | 13 | 14 | 27 |
-4 | NOT ASCERTAINED | 76 | 77 | 153 |
-3 | REFUSED | 5 | 9 | 14 |
-1 | DON'T KNOW | 3 | 17 | 20 |
0 | SURELY FALSE - 100% CONFIDENT | 10 | 11 | 21 |
10 | 90% CONFIDENT FALSE | 1 | 2 | 3 |
20 | 80% CONFIDENT FALSE | 1 | 4 | 5 |
30 | 70% CONFIDENT FALSE | 0 | 5 | 5 |
40 | 60% CONFIDENT FALSE | 2 | 2 | 4 |
49 | GUESS FALSE - 50% CONFIDENT | 14 | 30 | 44 |
51 | GUESS TRUE - 50% CONFIDENT | 41 | 72 | 113 |
60 | 60% CONFIDENT TRUE | 26 | 42 | 68 |
70 | 70% CONFIDENT TRUE | 86 | 80 | 166 |
80 | 80% CONFIDENT TRUE | 188 | 178 | 366 |
90 | 90% CONFIDENT TRUE | 287 | 286 | 573 |
100 | SURELY TRUE - 100% CONFIDENT | 1379 | 1514 | 2893 |
jfin12re: It is best to avoid owning stocks of foreign companies - true or false?
Data source: Graduate Participant or Proxy
Collected in: 2011
Mode: Mail
Source variables: y_fin2_12, y_fin2_l
Frequencies | ||||
---|---|---|---|---|
Value | Label | Male | Female | Total |
. | System missing - NR | 2513 | 2413 | 4926 |
-29 | LEFT BLANK ON SAQ | 352 | 613 | 965 |
-27 | NOT ASKED OF PROXY | 13 | 14 | 27 |
-4 | NOT ASCERTAINED | 68 | 64 | 132 |
-3 | REFUSED | 5 | 9 | 14 |
-1 | DON'T KNOW | 3 | 20 | 23 |
0 | SURELY FALSE - 100% CONFIDENT | 435 | 297 | 732 |
10 | 90% CONFIDENT FALSE | 175 | 135 | 310 |
20 | 80% CONFIDENT FALSE | 271 | 226 | 497 |
30 | 70% CONFIDENT FALSE | 219 | 191 | 410 |
40 | 60% CONFIDENT FALSE | 159 | 160 | 319 |
49 | GUESS FALSE - 50% CONFIDENT | 247 | 379 | 626 |
51 | GUESS TRUE - 50% CONFIDENT | 170 | 299 | 469 |
60 | 60% CONFIDENT TRUE | 89 | 96 | 185 |
70 | 70% CONFIDENT TRUE | 73 | 97 | 170 |
80 | 80% CONFIDENT TRUE | 62 | 105 | 167 |
90 | 90% CONFIDENT TRUE | 45 | 56 | 101 |
100 | SURELY TRUE - 100% CONFIDENT | 92 | 152 | 244 |