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To mark the 100th anniversary of World Savings Day, the National Bank of Ukraine is launching a new project - the All-Ukrainian Financial Literacy Test for Adults. This initiative is aimed at self-diagnosing Ukrainians' own financial knowledge and motivating them to self-educate in the field of financial literacy. In the future, this test will become an annual event.
The test will run from 31 October to 7 November inclusive. All citizens over the age of 18 can take it free of charge online. To do this, go to the educational website on financial literacy ‘Okay’.
Why is it important?
According to the Financial Literacy, Financial Inclusion, and Financial Well-Being in Ukraine in 2021 survey conducted by the USAID Financial Sector Transformation Project in cooperation with the National Bank of Ukraine, a significant portion of the population overestimates their level of financial knowledge. Thus, 45% of Ukrainians believe that they have an average level of knowledge in financial matters, although their actual knowledge is often much lower. Particularly vulnerable are young people aged 18-19 and people over 60, whose financial literacy scores remain below the national average.
‘We are launching the All-Ukrainian Financial Literacy Test, and every year in October-November we will offer Ukrainians an express check-up of their financial health and free personalised advice and a selection of materials from NBU experts to improve their financial awareness,’ said NBU Governor Andriy Pyshnyi.
Participants will be able to take the test both in organised groups and on their own over the course of eight days, assess their knowledge and receive recommendations for improving it. The estimated time to complete the test is about 20 minutes.
‘The all-Ukrainian test is not only a self-assessment, it is also a simulator in which we have sewn in 20 real-life situations that millions of financial services consumers face every day. The test participants will receive personalised advice and useful information for further learning. This will help them prepare for similar financial situations in their lives,’ commented Yulia Yevtushenko, Director of the NBU Communications Department.
How to participate in the prize draw?
20 test participants will have the opportunity to win prizes from the NBU by sharing their results on social media*.
To do this, you need to:
1) take the All-Ukrainian Financial Literacy Test on the ‘Okay’ website at the following link: https://harazd.bank.gov.ua/tests/test/general-test;
2) share your test results on social media (make a screenshot or photo);
3) post on your social media pages from 1 to 7 November, using the hashtag #NBU_fincheck and tagging the ‘Okay’ page;
4) fill out a short Google form, in which you must include a link to your post: https://cutt.ly/4eSQNxGq;
5) take part in a drawing of gifts from the NBU.
*20 gift boxes will be drawn among the participants who meet all the conditions .
