Russians to take online test on financial literacy

Photo: Elena11 / shutterstock

Between 10 and 21 April 2018, everyone is welcome to take an online test on the level of financial literacy, thereafter closing potential gaps in financial knowledge that the questions of the test may expose. This opportunity will be offered through participation in the Russian Financial Literacy Test, pioneered by the Agency for Strategic Initiatives as a project implemented jointly with the Bank of Russia, the Ministry of Finance and the Educational Resource Design Wizard (Rus. “Конструктор образовательных ресурсов”).

The test takes place as part of the annual All-Russian Financial Literacy Week for Children and Young People.

Everyone is welcome to sit for the test by signing in on the website and answering the 30 test questions online. Those who give correct answers to 24 and more questions will land personal certificates of successful completion of the test. Those who give fewer correct answers will be redirected to the relevant information materials. Once these are studied, the participant is welcome to repeat the test to obtain the certificate.

‘This project is intended to target all those who wish to upgrade their financial literacy on their own; mainly, it is meant to provide them with the right resources, that is, links to materials for studying online.  We appreciate the response and support of the Bank of Russia and the National Open School for this initiative’, said Svetlana Chupsheva, CEO of the Agency for Strategic Initiatives.

Mikhail Mamuta, Head of the BoR Service for Consumer Protection and Financial Inclusion, noted the regulator's interest in better financial literacy, to the effect that consumers would make fewer mistakes and face fewer disappointments in the financial market, thereby fostering its stability.

‘Financial literacy is more than just a body of knowledge to be mastered by someone claiming to be an intellectual. Financial literacy is about the daily use of the skills to protect savings, to make use of financial instruments - in a smart and secure way, to buy a financial product that is either particularly suited for today’s needs or makes much of investment’, Mikhail Mamuta said.

The organisers expect the financial test to become an annual event in the future.

Further details of the All-Russian Financial Literacy Week for Children and Young People are available on the website: вашифинансы.рф (where you are welcome to register).

10 April 2018

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