Basics of Financial Literacy: Mini-Course & Test

Financial literacy made easy and accessible for all!  This crash course explains the main principles and their practical application in a quick and straightforward manner.  The test allows students to check their progress and demonstrate proficiency to others – whether teachers, employers, or bankers.

The course is an ideal complement to the Road to Riches TM board game, which introduces key financial concepts, sets the frame for making smart long-term decisions, and makes finance fun for young and old!

The Course

The Basics of Financial Literacy mini-course teaches everything you need to know in less than 6 hours:  read the clear and concise Learning Book, practice the Multiple Choice Questions, then take the actual test to earn the Certificate Of Financial LiteracyTM!

Our promise:  We focus on what’s important and relevant.  We won’t bury you in excessive details or tedious calculations.  But we will explain the main concepts and principles in clear and simple language.

The knowledge acquired will be invaluable for some of the most important decisions in your life – whether it’s going to university, choosing a career, deciding to rent or buy, or investing your savings.

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The Test and Certificate

The Financial Literacy Assessment Test can be taken in practice mode or exam mode.

Practice mode: 

  • Select which of the 11 subjects you want to take (can be basic or advanced)
  • Review the relevant lesson from the Learning Book
  • Go through the questions one by one, select response, then view correct answer and explanation
  • Your score for the subject is updated and displayed on the answer page
  • You can enter and exit anytime and take as many subjects as you want

Start Practice

Exam mode:

  • Need to complete Basic Level before attempting the Advanced Level
  • All subjects in one level are taken sequentially in one attempt
  • For each subject, 10 questions are selected randomly
  • Required pass rate is 80% for all questions in that level (not each subject)
  • There is a 15-minutes time limit for completion of each level
  • If you pass the Advanced Level, you can download and print the Certificate or refer to the Eliora Education database
Get Certificate

Studying and passing the Test will help you:

  • Gain essential knowledge for personal and financial decisions
  • Understand basics of budgeting, investments, and financial markets
  • Demonstrate proficiency to potential employers, bankers and teachers

In addition to helping you make smart personal and financial decisions, the COFL can help advance your career by demonstrating that you’ve mastered the core principles of finance.   This is important for all levels of jobs in the financial sector, jobs that require basic knowledge of investments and budgets, and self-employed professionals and entrepreneurs.

Lesson Plans

The following 3 lesson plans may be useful for teachers in the core subjects of Education & Careers, Budgeting & Saving, and Investing:

Access Lesson Plans