multicollinearity understand, individual, regarding, question, highest

Walex

I am looking for some clarification regarding when multicollinearity (btw i hate spelling that word) is a problem. I understand the, not individual significant but collectively significant t-test/ F-test logic, but I just encountered a QBANK question that only gave info on independant variable correlation coefficients (i.e. no info to calculate an F-test). The highest magnitude rho was 0.43 and the answer implied that due to the high rho of 0.43 multicollinearity was a problem.

Not sure if the QBANK question was simply bad, but is a rho of 0.43 indicative of multicollineraity (strikes me as a bit too low to indicate existence of a linear relationship)?

Mike