Are You More Financially Literate Than A 15-Year-Old? – Real Time Economics

When it comes to basic understanding of financial skills, American teenagers are, well, downright mediocre among their international peers.

The Organization for Economic Cooperation and Development this week released its findings from a survey of students in 18 countries that tested their performance in financial literacy, mathematics and reading skills.

Students in the U.S. scored 492 points, coming in just below the 500-point average and ninth overall. But they were well below students in Shanghai, China, who averaged 603 points. Colombian students rounded out the bottom of the ranking with an average test score of 379. Students were measured on a scale from 326 points to more than 625.

So, how do you stack up?

The Journal created a quiz based on five of the questions from the OECD’s survey. The test assessed the teens’ understanding of bank accounts, credit cards, taxes, savings, loans, and other topics. The report also included information about the concepts and skills behind each question, and what 15-year-old students can do at each of the five levels of difficulty.

 

 


 


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Source: blogs.wsj.com
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