Financial Literacy Test & Survey Center

The NFEC’s Financial Literacy Test and Survey Center provides complimentary tests and survey tools. Organizations and individuals are welcome to use this online evaluation material for pre-and post-testing, self-assessment, and/or to gain a better understanding about various financial literacy topics.*

The Center was developed with three objectives: providing resources for financial educators, offering tools for people interested in improving their financial knowledge, and giving the media up-to-date information about the current state of financial education. The data gathered using these resources will be used to help adapt NFEC programs to accommodate different learner needs.

Media – the Testing & Survey Center gives you access to up-to-the-minute results. Contact us anytime for raw data that includes: how many people participated, the survey time frame, and a summary of the overall results. If you seek more specialized data, contact us and we can segment the information to fit your needs.

The NFEC’s test results have been featured in, The Hill, Yahoo Finance, Business Insider and CNBC . More than 5,000 people from all 50 states participated in our national financial literacy test.

Click Below to Participate in These Financial Literacy Tests

financial literacy test

National Financial Capability Test

This 30 question test measures financial literacy and income knowledge (career & entrepreneurship). This is a broader test that measures their ability to earn money and manage their personal finances. Over 10,000 people – high school students through adults – have completed this test.


Advanced Financial Education Test

This personal finance test asks more advanced question and is focused solely on financial literacy topics. Loan payments, inflation, risk-based pricing, FICO scoring, loan qualification and investment topics make up the questions. This test is suitable for high school students and adults alike


Financial Foundation Decisions Test

This 8 question test was designed to establish if the participant possesses the knowledge to make entry level financial decisions, including: purchasing a car, renting a home, college affordability, credit cards, loan terms and associate payments make up this test.

personal finance test time for college students

Student Loan

With the student loan debt crisis the NFEC developed this test so students can measure their ability to make responsible student loan decisions. This 12 question tests covers student loan qualification, repayment, sources and default. Every college bound student and current college students considering loans should take this exam.

*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.

Average Score Segmented by Ages

Over 11,000 people from all 50 states have completed the National Financial Literacy Test – a 30 question test designed to measures participants’ ability to earn, save and grow their money. The test questions cover the ten subjects covered in the Financial Literacy Framework & Standards and were written to measure 3 key areas: motivation to learn, subject knowledge and recognition of the first step. Although the national financial literacy test was specifically designed for 15 to 18 year olds, people of all ages have taken part in this assessment. See how they did below:

10 to 14 Year Olds


Average Score of 53.56%
679 Participants

15 to 18 Year Olds


Average Score of 60.35%
6544 Participants

19 to 24 Year Olds


Average Score of 67.80%
1191 Participants

25 to 35 Year Olds


Average Score of 71.99%
845 Participants

36 to 50 Year Olds


Average Score of 72.87%
882 Participants

50+ Year Olds


Average Score of 76.81%%
856 Participants

Segmented by Questions 15 to 18 Year Olds

The NFECs financial education test measures each of the ten areas covered within the financial literacy standards These topics include: Financial Psychology, Credit & Debt, Accounts & Budgeting, Skill Growth, Income, Business Relations, Long-Term Planning, Risk Management, Investments and Social Enterprise.

The NFECs National Financial Literacy Test measures each of the aforementioned subjects and breaks the test down into three distinct areas that impact ones financial capability.

  • Motivation to Learn – Do the participants understand how the subject of financial literacy impacts their daily life? Do they relate the handling of their personal finances to their dreams? Motivation to learn is a critical area to measure, as it directly impacts how we deliver the instruction and lessons within the curriculum that are focused on.
  • Subject Knowledge – Most financial education tests simply measure subject knowledge – example: What is APR? While this is important, it is only one area that impacts ones financial capability. The NFEC uses this measurement in combination with the other two mentioned to achieve a more complete evaluation of one’s financial capability.
  • Recognition of the First Step – The NFEC recognizes this as a critical component on moving participants to take positive action – do they understand the first step that leads them toward a better financial position? Most financial literacy curriculum and tests do not measure or teach this critical component. Providing instruction that includes the exact steps they should take is critical for retention and implementation of the material.

The NFEC recognizes the importance of measuring all these elements that go into developing a successful financial literacy campaign. With these three areas of measurement, a comprehensive financial education initiative can be designed which will maximize the results of the participants.

Motivation to Learn Results
(10 Questions)

Average Score


Sample Question & Results:

How can understanding risk management topics help me in everyday life?

Percentage Answered Correctly: 59

Subject Knowledge Results
(10 Questions)

Average Score


Sample Question & Results:

From the following list, choose the two best suggestions for building and maintaining a good credit rating.

Percentage Answered Correctly: 71

Recognition of First Step Results
(10 Questions)

Average Score


Sample Question & Results:

How do I begin the process of creating a long-term financial plan?

Percentage Answered Correctly: 64

Conducting financial literacy tests can help your organization evaluate your financial education program, the instructors and can directly impact you’re funding. Administering testing before and after your financial literacy program is an important part in developing a sustainable campaign.

The NFEC includes quizzes and test with their entire financial literacy curriculum (free lesson plans) and events. In addition, the NFEC offers customized financial literacy testing, measurement and long-term studies that measure the change in behavior.

With comprehensive pre and post testing your organization stands a better chance of receiving financial literacy funding. This may help your organization sustain your programs and reach more people with the training.

Gathering quantitative data can measure the students understanding and the overall effectiveness of your financial education program. Learn more about the National Financial Educator Councils’ tests that are included in our curriculum and financial literacy programs.

To learn more about the National Financial Educators Councils’ financial literacy tests complete the form located on the contact us or the solution center page to learn more.


Financial Literacy Test Tips

Erin Mitchel, National Financial Educators Council Contributing Writer

As most of us are aware, money management skills are important for children to develop at a young age.

The effectiveness of this curriculum should be an ongoing process of education, implementation and monitoring how much participants retain by offering a series of financial literacy tests and financial literacy quizzes.

Hands on testing of practical matters can provide a student the experiential learning experience of the material they studied and will directly impact their short and long-term goals. The written section of within a financial literacy test helps them to identify the areas where more study is required.

Professional finance speakers understand effective administration of a financial literacy test it is important to conduct a pretest first. This will give you a base line of the student’s knowledge. If the delivery of the financial literacy curriculum and test is home be sure not to lead your student into answers during the pre and post test. Let them do the work on their own to get the most reliable data.

After the students have received some type of high school financial literacy curriculum the next step is to administer the post test. Ensure the post financial literacy test covers the material they learned and be sure not to skip portions of the financial literacy lesson plan that may be on the financial education test.

Financial literacy tests can include a wide variety of topics like: how to pick a career, comparing the pay between job offers, how to pay your bills on time, budgeting for living expenses, how to start saving for short term goals, comparing credit card offers, and a variety of other subjects. Be careful to choose financial education tests that align with the subjects you are teaching.

National Financial Educator’s Council (the NFEC) Real Money Experience (RMX) is a prime example of the practical teaching method that works with kids and has excellent results on post financial literacy test. The students visit twelve different stations, meet with financial literacy speakers and make life decisions that will impact them when they move away from home.

The experiential learning experience the students receive when they enter the RMX event will provide them hands on experience so the information is retained; thereby improving the results of the post financial literacy test.

The Real Money Experience event has students choosing a career and making education choices that affect their income. They decide on clothing and transportation options that fit their career while the financial literacy test is if their choices will fit into their budget.

Participants of this financial education event quickly become aware of the ongoing expense of each decision. The expenses can be as simple as insurance, dry cleaning or utility costs, for example. The volunteers help participants set up a saving plan that matches their future lifestyle goals, create a budget, make credit and investment decisions and this interaction acts as a financial literacy quiz as students enter each booth.

The end of the financial literacy events is capped with a practical financial literacy test based on the lessons they learned.


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