Financial Literacy

Grades 6-12 45 minutes*

Designed to evaluate these essential concepts and skills that students need to make informed financial decisions:

  • Achieving Financial Goals
  • Managing Money Effectively
  • Debt Decision-Making
  • Risk Management
  • Investment & Asset Building
  • Legal & Ethical Financial Behavior

Fine Print

We believe a student’s basic understanding of finances is critical to his or her ability to make sound decisions after leaving school for the real world. In examining the above concepts and skills, topics range from credit cards to mutual funds.  Questions not only ask students for financial content knowledge, but also require students to apply that knowledge with items such as analyzing an account statement, making changes to a spending plan, and choosing an investment option to meet financial goals. In short, items address monetary issues that are commonly encountered in everyday life.

All assessments are designed to align with the essential concepts and skills for each of the strands within the 21st Century Skills framework of the Iowa Core Curriculum. This framework is recognized nationally as a model of 21st Century Skills implementations. In addition, all assessments have undergone extensive statistical analysis in partnership with researchers at Iowa State University.

Students should be able to navigate through each of the assessments in less than 45 minutes. Following completion by students, the assessment coordinator, instructors, and/or administrators may view instantaneous results online. Reports include quantitative data from the entire group as well as individual student and class results. Data is organized by each essential concept or category and can be accessed in the user’s preferred format to allow for meaningful feedback. Reports are used by educators to focus and improve teaching efforts, staff development, and curriculum planning.

The 6-8 grade Financial Literacy assessment is currently at the field test stage and will be available for general use soon.

* The assessment contains 35 questions and is designed to be completed in less than 45 minutes. In the event students cannot complete the assessment in one class period, the assessment saves current progress and students can resume at a later time.