Getting the Most from a Simple Money Test

Successful financial education programs know that strategic testing can reveal far more than just the students’ memory. Money management tests can reveal the depth of student’s knowledge and determine if the course is on track to achieve the intended depth of understanding. Something as simple as a periodic money practice test can prove the success of a program. Every one of the NFEC’s financial education programs comes with formalized testing, designed to give you the data you need.

Key Systems for Money Test Reasonings

Proficiency of Money Test Proficiencies

Expansion for Money Test Scopes

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NFEC Money Tests Measure All Aspects of Personal Finance

Overall results are important to measure when teaching money skills, but final exams don’t tell the whole story. We measure overall results by looking at a person’s overall financial situation, before class and at intervals after class ends. It is also important to assess students’ personal attitudes toward money and how they personally behave with it. If these are out of line with success, they must be addressed, or they will sabotage all other training. It is important to gauge students’ progress throughout the program. Is the student able to develop and follow their own personal financial system? This data can be used to prove the growth of the students and the success of the educational program.

Development of Money Test Extras

Money Management Tests Reveal Critical Flaws Before It’s Too Late

Among other things, our periodic money tests determine the depth of knowledge of the student body. This needs to be aligned with the money management class expectations throughout the course. If the students’ level of understanding lags behind the course intentions, there is probably a missing element that is not allowing a connection to the students. Whether you are a financial educator, money coach or counselor, assess student understanding needs to be discovered and addressed quickly, to minimize alienating the students and discouraging the teachers.

Framing Money Test Reasonings