NFLQC

National Financial Literacy Quiz Contest – 2020 is the first-of-its -kind quiz for school students from grade 6 to 12 to educate and assess students’ financial literacy skills, comprehensive knowledge of financial planning, financial products and knowledge of government’s scheme related to finance. NFLQC – 2020 is an initiative of PTGLOBALEDU to educate young school students  from grade 6 to 12 to excel their knowledge and skill about financial literacy, planning, financial products and government schemes.

  • Quiz is Open : Midnight (IST) until 15th August 2020
  • Eligibility: Class 6 to 12
  • Number of questions: 50 questions
  • Total score – 200 marks/points
  • Timing : 40 minutes
  • Certification : Certificate for all participants
  • Results : 25th August 2020
  • Prize : Excited prizes, medals and certificate

Objective:

  • To instill comprehensive knowledge and skills about financial planning, financial products, governments schemes  etc. and educate young students as per the need of future to make more financial sound citizen and assess their understanding about financial literacy education.

Importance:

Financial literacy is a core life skill for participating in modern society. Children are growing up in an increasingly complex world where they will eventually need to take charge of their own financial future. As young adults learning to live independently they will need to know how to budget and make wise financial choices for everyday living.

Assessing the levels of financial literacy in the key component of a successful national strategy for financial education that enabling policy makers and researcher to identify needs and gaps  and design appropriate responses for future need of financial products.

Financial education can make a difference. It can empower and equip young people with the knowledge, skills and confidence to take charge of their lives and build a more secure future for themselves and their families

Facts:

  • 24% Indian are financially literate
  • 3 out of 10 Indian understand the concept of compound interest
  • 4 out of 10 Indian are financially fragile
  • According to a survey conducted by Standard & Poor’s Financial Services, less than 25 percent of South Asian countries’ adult population is financially literate.
  • India is home to 17.5% of the world’s population but nearly 76% of its adult population does not understand even the basic financial concepts.

Assessment : Financial Literacy Assessment : International level of assessment that is comprises of

  • Financial knowledge
  • Financial behavior
  • Financial attitude
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