A Financial Literacy Quiz for College Students is Valuable in Many Ways
College is the perfect time to increase one’s awareness and interest in personal finance. Most people in that demographic are just beginning to take responsibility for their own money and usually haven’t yet had a chance to dig themselves into a financial hole.
Programs can gather valuable data with a financial literacy quiz for college students. The right quizzing system can validate a program’s success – invaluable information when it comes to funding requests and expansion plans.
NFEC’s Comprehensive Financial Literacy Quiz for College Students
Our comprehensive financial test systems cover aspects of personal finance that others don’t. Testing includes a clear understanding of the First Step they can take toward financial health. We look for changes in personal financial sentiment, which can form the foundation of unconscious money habits. When a healthy financial sentiment is established in college students, it can last a lifetime.
We measure actual behavioral change. We don’t rely on post-class surveys because this data is often flawed by the participant’s skewed perception of themselves, a phenomenon known as Participant Bias.
Personal Finance Quizzes for College Students Reveal Level of Higher Order Thinking
The NFEC’s college student financial assessments don’t just test what students know, they also interpret how well they know it. Learning occurs in sequential stages. If financial education material is presented out of sequence or at a different pace than the students process it, students tend to lose interest.
The process of learning is described in Webb’s Depth of Knowledge chart, which lays out 4 separate and distinct phases: recall and reproduction, skills and concepts, strategic thinking, and extended thinking. When we monitor the students’ current phase, we can adjust the curriculum to teach the students at their level. This is just one powerful benefit of financial literacy quizzes for college students.
Colleges and universities now have the opportunity not only to improve the financial capabilities of their students, but also to collect empirical data to demonstrate their results. By administering a financial literacy quiz for college students before and after the students undergo a series of personal finance workshops, schools can collect important data to obtain funding and gain media attention.
Collecting data is important to help make a financial literacy effort sustainable. The National Financial Educators Council (NFEC) has developed a financial literacy test that accompanies its comprehensive educational, promotional, and outreach materials. Colleges that choose to collaborate with the NFEC gain access to a huge set of resources, from curriculum coursework to full-scale events. And assessing the impact of a college financial literacy program helps universities attract the attention of sponsors, donors, and granting agencies, to earn financial support that will help extend program reach and impact.
The college financial literacy resources available through the NFEC include presentations and curriculum; financial educator training and certification; presenters or keynote speakers; marketing and promotional materials; special event initiatives; and one-on-one consultation services. The NFEC has adopted a client commitment model that supports organizations from start to finish of their custom-designed financial literacy campaigns.
Education, awareness, and sustainability are the three foundations of the NFEC’s efforts to promote money management for college students. Their materials educate students through curriculum and events based on practical applicability to real-world financial decisions. They help colleges build awareness using media outreach and promotional events. Finally, sustainability is achieved through fundraising and developing positive relationships with community leaders and groups. Employing empirical tests and financial literacy quizzes to demonstrate a program’s positive impact is one of the best ways to attract support and foster community goodwill.
College Financial Literacy Test & Surveys
The NFEC’s College Financial Literacy Test & Surveys are provided complimentary to be used online for pre-and post-testing, self-assessment, and to use as an instructional tool.* You will have access to your personal results immediately after completing the test or survey.
Visit the Financial Literacy Test & Survey Center to access over 30 evaluation tools for all ages and to compare your results.
*Tests and surveys provided may be used only on the NFEC website. Printing the tests or surveys is prohibited. Commercial use, sale, or any other use that violates the terms and conditions and copyright is prohibited. Read complete terms and conditions of use.
National Financial Capability Test
The NFECs’ Student Experience Card is a fake credit card application that lures high school & college students to apply for the credit card with teaser rates and favorable terms. However, upon closer exam of the terms and conditions, the students realize that just reading the advertising and not the complete terms and conditions can put them in unfavorable financial situations.
Visit http://studentexperiencecard.com/ and see how your class performs.
Details:
A ‘shocking’ situation often gets people to immediately reconsider their actions. The Student Experience Card entices students to apply with ‘slick’ advertising that mentions a $100 bonus and instant approval. Students who apply must check off that they have read and agreed to the terms and conditions which clearly state an APR of 99.9% and a $297 annual fee which is due immediate upon acceptance. Upon reading the message students are prompted to follow a few steps to “get a refund”. This is where they learn this was a fake credit card application designed to teach personal finance lessons.
“I freaked out,” states April, 2015cob a student from the Orange County High School of the Arts. He continues, “The website made it sound like a great student credit card for me but when I found out I owed $197 dollars I didn’t know what to do. As I tried to get my refund, I found out it was fake and was very relieved. From now on I will always read everything that I am applying for.”
The NFECs’ Student Experience Card was designed to take students on an ‘emotional learning rollercoaster’ to facilitate long-term changes in behavior. Leveraging negative emotions like fear and regret can make a lasting impact on those that go through the application process. This unique method of teaching personal finance has been found by the NFEC to be effective in improving retention rates and improving peer-to-peer discussions of financial matters.
Financial Literacy Quiz for College Students Demonstrates Positive Results
Colleges and universities now have the opportunity not only to improve the financial capabilities of their students, but also to collect empirical data to demonstrate their results. By administering a financial literacy quiz for college students before and after the students undergo a series of personal finance workshops, schools can collect important data to obtain funding and gain media attention.
Collecting data is important to help make a financial literacy effort sustainable. The National Financial Educators Council (NFEC) has developed a financial literacy test that accompanies its comprehensive educational, promotional, and outreach materials. Colleges that choose to collaborate with the NFEC gain access to a huge set of resources, from curriculum coursework to full-scale events. And assessing the impact of a college financial literacy program helps universities attract the attention of sponsors, donors, and granting agencies, to earn financial support that will help extend program reach and impact.
The college financial literacy resources available through the NFEC include presentations and curriculum; financial educator training and certification; presenters or keynote speakers; marketing and promotional materials; special event initiatives; and one-on-one consultation services. The NFEC has adopted a client commitment model that supports organizations from start to finish of their custom-designed financial literacy campaigns.
Education, awareness, and sustainability are the three foundations of the NFEC’s efforts to promote money management for college students. Their materials educate students through curriculum and events based on practical applicability to real-world financial decisions. They help colleges build awareness using media outreach and promotional events. Finally, sustainability is achieved through fundraising and developing positive relationships with community leaders and groups. Employing empirical tests and financial literacy quizzes to demonstrate a program’s positive impact is one of the best ways to attract support and foster community goodwill.