What Goes into Designing a Personal Finance Quiz for College Students?
A lot more than you might realize. Creating an effective assessment is a complex task. And it’s our specialty at the NFEC. Our testing systems cover all assessment needs including short- and long-term tracking and measuring actual behavioral change. We can even develop a custom assessment solution for your college financial literacy programs.
When you’re designing a personal finance quiz for college students, it’s important to ask the right questions. It’s just as important to interpret the data and translate it into practical, logical action items toward improvement.
Results
Average Score of 58.54%
A Personal Finance Quiz for College Students is a Powerful Tool
Information is critical for when designing an effective personal finance initiative for college students. Financial literacy tests and personal finance quizzes for college students are powerful tools for extracting valuable information. Our personal finance quiz material measures numerous aspects of personal finance. It is obvious that we track financial knowledge. That’s often where assessment programs end. At the NFEC, we go on to measure a person’s financial sentiment, which leads to their financial behavior, which we also measure. We track changes in financial behavior well after class is complete. Tracking is done by monitoring implementation of new personal financial systems, which leads to improved financial situations, the ultimate goal of any financial program. This is integrated with the personal finance curriuclum to make getting test results easy.
Personal Finance Quiz for College Students Shows Depth of Knowledge
The NFEC’s financial literacy questions for college students and test results shows us the level at which students understand the subject matter. That shows us exactly how to encourage them to progress. When we challenge them to advance from the level they’re currently occupying, these exercises natural build off of their newfound knowledge and learning occurs at the optimum level.
We use two popular corresponding scales of knowledge acquisition: Blooms Taxonomy of Higher Order Thinking and Webb’s Depth of Knowledge charts. These describe four levels of cognitive processing: 1) Recall and reproduction; 2) Skills and concepts; 3) Strategic thinking; and 4) Extended thinking. Students should not be asked to progress out of this order because this describes the natural process of learning.
