Financial Literacy of Adolescents and Young Adults: Setting the Course for a Competence-Oriented Assessment Instrument



This chapter presents research activities that aimed at contributing to an educationally sound financial literacy assessment for adolescents and young adults. In particular, it describes the development and pilot testing of a first version of a competence-oriented assessment instrument involving 198 secondary students in Germany. The instrument mainly consists of 23 test items that intended to mirror different phases of financial decisions. Moreover, self-reports on motivational and attitudinal aspects as well as questions on students’ socio-demographic background were included. The study intended to exemplarily test the items on financial literacy. The results of the pilot testing are reported and discussed with regard to implications for further development of the assessment instrument.


Authentic financial literacy assessment Competence measurement Item construction Situational judgment testing 


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Copyright information

© Springer Science+Business Media Singapore 2016

Authors and Affiliations

  1. 1.Chair of Business and Economics EducationFriedrich Schiller University JenaJenaGermany
  2. 2.Chair of Business and Economics EducationGoethe University FrankfurtFrankfurtGermany

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