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People representing all 50 U.S. states responded to a quiz assessing their money knowledge. The National Financial Educators Council (NFEC) designed the 30-question National Financial Literacy Test to measure teens’ and young adults’ ability to earn, save, and grow their finances. The average score of financial capability among this nationwide sample was 64.26%.

Among the 15- to 18-year-olds who participated, 57.85% failed the test – that is, they scored 70% or lower. Young people from Missouri posted the highest average score (67.89%) among the 50 participating states from which at least 200 youth responded; respondents from Georgia scored lowest (54.47%).

Other notable state results of participants between the ages of 15 to 18 years: New York -1,180 participants averaged 61.95%, California – 1,209 participants averaged 61.46%, Texas – 691 participants averaged 61.98%, Massachusetts – 637 participants averaged 66.15% and Oregon – 585 participants averaged 67.8%.

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The test questions assess knowledge about the 10 subjects covered in the Financial Literacy Framework & Standards. The questions were designed to measure comprehension across three key areas of financial wellnesslearning motivation, topic understanding, and ability to recognize the first step toward securing one’s financial future.

The NFEC also posted results from 3 other tests.

Advanced Financial Education Test: The average score on this personal finance test, which asks more advanced questions focused only on financial literacy, was 61.74%. Of the 4,427 respondents, 60.29% failed (scored below 70%).  Full results available at:

Financial Foundation Test: This 8-question test establishes whether participants possess knowledge to make entry-level financial decisions; among 4,444 respondents the average score was 63.04%, with 54.43% failing (scoring below 70%).  Full results available at:

Student Loan Test: This test for college-bound youth and current college attendees measures ability to make responsible student loan decisions; out of 3,774 respondents, the average score was 60.17% and 63.51% failed (scored under 70%).  Full results available at:

The NFEC’s Financial Literacy Testing & Survey Center provides more than 30 complimentary tests and surveys. Individuals and organizations may leverage these tools online; the measures are automatically graded for self-assessment and to help reach financial literacy programming goals. Visit the Financial Literacy Test & Survey Center assessment page  for more information.

The National Financial Educators Council is a social enterprise organization committed to improving financial capabilities among the global community. The NFEC develops tools, resources, and training to help organizations and individuals share financial literacy messages at the community level. The NFEC’s Financial Literacy Test & Survey Center represents one available tool for organizations to assess program effectiveness and gather baseline measures of personal finance knowledge.

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