A prominent international assessment of student achievement will include a new topic—financial literacy—when the testing regime is next administered, with results to be released in 2013.
In all, 65 countries and educational systems will take part in the next round of testing under the Program for International Student Assessment, or PISA. Students from 19 of those participants, including the United States, Poland, and Shanghai, China, will take the financial literacy exam, according to the Organization for Economic Cooperation and Development, or OECD, which oversees PISA.
Some of the aspects of financial literacy that will be tested include dealing with bank accounts and credit and debit cards; planning and managing finances; understanding taxes and savings; understanding financial risks and rewards; and understanding consumer rights and responsibilities in financial contracts.
A version of this article appeared in the March 02, 2011 edition of Education Week as Financial Literacy Added to PISA