Depends on what you think it looks like.

It does not mean that your memory is faulty. In this context, "fault" means that the information that was requested was expected to be in RAM, but wasn't, because it had been paged out to virtual memory on disk.

It does mean, however, that you have less RAM than the processes you're running concurrently need. It still works, nominally, because the OS is able to move data from RAM to disk when it needs more RAM for something else, but a hard drive is many orders of magnitude slower than your RAM.

This is normally not a big deal when you have multiple programs running concurrently when they're not really doing that much all at the same time. (For example, if you have Photoshop open with a huge image, it's okay for it to page all that memory out to disk when it's not being used, because you're doing something else. When you get back to Photoshop, it'll just pull it back into RAM and page out what you had been working with.) But when processes all actively running at the same time need more RAM than you have, it starts using the hard drive as intensively as it uses the physical RAM. Or tries to. And it's incredibly slow.

So: run fewer programs or buy more RAM.