Utilization of the U.S. Test of Financial Knowledge in Germany: Adaption and Validation

• In Event: AERA Poster Session 8
  In Poster Session: Division H Section 3 Poster Session 2: Examining Assessment in Schools

Abstract

Measuring financial literacy via standardized tests is widespread in the U.S. since there is already a substantiated array of tests. However, in Germany, comparable instruments hardly exist to date (Hausmann & Retzmann 2014). In this contribution, we present our attempt to translate and adapt the U.S. Test of Financial Knowledge (TFK) (Walstad & Rebeck 2016) in order to utilize it in German Secondary Education. According to AERA Standards for Educational and Psychological Testing, student and expert interviews have been conducted for validation. Results of a first pilot study in Summer 2019 indicate suitable overall usability of the German test-version (TFK-G) although some questions concerning the level of difficulty for the target-group remain.

Authors

• Andreas Kraitzek, Technical University Munich

• Manuel Förster, Technical Universty München

• Simone Lena Ziegler, Otto Friedrich University Bamberg

• Julian Klaus, Otto Friedrich University Bamberg