NFLAT begins at Kwasiphai
Source: The Sangai Express
Bishnupur, March 27 2019:
National Financial Literacy Assessment Test (2018-19), which is a three days online test, began at Mother's Pride Academy, Kwasiphai today.
The literacy assessment test was initiated with the objective to fine tune the financial decision making capability of young students and to inculcate basic financial skill under the aegis of National Institute of Security Market through National Centre for Financial Education.
The test was first started in 2013 under three main categories viz a) NFLAT Junior (Class VI to VIII), b) NFLAT (Class IX to X) and c) NFLAT Senior (Class XI to XII).
The said test was conducted both in offline and online mode in the previous years but starting this year onwards the assessment test was conducted in online mode only.
The test, which is the biggest online exam in Asia, is conducted to measure the level of financial literary among school students apart from main stream which are essential in their day to day life and in dealing with financial management.
Regarding the syllabus, students may refer topics on a) Money matters - income, expenditure and budgeting, b) Banking - deposits, credit and payments, c) Insurance - risk and reward, d) Investment - stocks, bonds and mutual funds, e) Pension - retirement planning, f) Financial inclusion - Government Schemes, g) Taxation - income tax and GST and h) Consumer Protection - scams, frauds and role of regulators.
Students studying in both private and Govt schools can take part in the test.
Altogether, 178 students are participating in the first day of the said test today which is divided into 7 slots each having 1 hr .