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In one study, getting one additional financial literacy question correct is associated with a higher probability of planning for retirement, while those who planned saved three times as much as those who didn't.
In 2013 for example, a module on diabetic foot, as well as the Stanford self efficacy questionnaire and a health literacy question were added.
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A paper by Kris Gerardi of the Federal Reserve Bank of Atlanta, Lorenz Goette of the University of Geneva and Stephan Meier of Columbia University asked a battery of simple financial literacy questions of recent homebuyers.
I use subjective expectations data on future asset returns from the Italian Survey of Household Income and Wealth to validate widely used financial literacy questions.
Therefore, the ESS asks respondents about personal details, contact information, employment history and income, schooling and training experience, and a few objective numeracy and literacy questions.
Finally but importantly, individuals whose behavior is difficult to rationalize tend to obtain low scores on numeracy and financial literacy questions and are less educated.
We follow the PIAAC distinction and we construct the variables "Skipped" and "Not Attempted" as the average rate of test-items in each of these two categories for every test taker in numeracy and literacy questions.
Fewer than half of us are able to answer basic financial literacy questions when surveyed.
When we commit to including financial literacy questions on state drivers' tests, we need not start from scratch.
Core media literacy questions teach us how to separate text from subtext, and stated premise from hidden meaning.
The health literacy questions were selected from the HLQ™ [ 11].
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com