Adaptation and Validation of the U.S. Test of Financial Knowledge for Use in Germany (Poster 30)

• In Event: Saturday Poster Sessions 7:45 am
  In Poster Session: Division H Section 3: Assessment in Schools Posters

Abstract

Financial knowledge is essential for the development of financial literacy. For Germany, dedicated test instruments for financial knowledge assessment, which are specifically designed for younger school students, are still scarce to date. To fill this research gap, the authors present the adaptation and validation processes to transfer the U.S. Test of Financial Knowledge (Walstad & Rebeck 2018) for use in German Secondary Education. With reference to the AERA Standards, evidence for the validity of the adapted test was sought through qualitative and quantitative investigations. Data from studies with n=160 participants show that the German test version has good psychometric properties and can potentially be used to measure basic financial knowledge and understanding of younger students in Germany.

Authors

• Andreas Kraitzek, Technical University München

• Manuel Förster, Technical University München