SS to Money Trainer's Guide Section 4

Section 4 Pre/Post Testing for 3-Day Smart Start to Money Administering the Pre/Post-Course Financial Literacy Survey Purpose of survey: Teachers will measure the students’ knowledge of financial concepts and vocabulary as well as their attitudes about money to see how much the students’ knowledge and attitudes change from Day 1 to Day 3 of the Smart Start to Money Course. Materials and resources: 1 copy of the Pre/Post-Course Evaluation Survey per student 1 copy of Answer Sheet #1 per student 1 copy of Answer Sheet #2 per student Instructor’s Answer Key Instructions: All students who attend the 3-Day Smart Start to Money Course must take the Financial Literacy Survey within the first hour of the Smart Start to Money Course (before any instruction is given). Instructors will use this information to gauge the student’s prior knowledge and skills in financial literacy. As you hand out the 4-page surveys, do not call them “tests.” Explain to students that you need them to take this survey so you can determine how well this course teaches young people about personal finance. Instruct the students not to write on the 4-page survey. Supply them with Answer Sheet #1 if this is your pre-test, or Answer Sheet #2 if this is your post-test. In order to get an accurate picture of the students’ actual knowledge of financial literacy, it is very important that you do NOT define any terms or help the students in any way as they take this survey. Do not allow students to help each other with the survey. Tell students to guess if they don’t know the answer, or just leave it blank. By the end of the course, they will know all the terms on the survey and it will be fun to see how much they learned. On Day 3 of the course, you will administer the survey a second time using Answer Sheet #2. Follow the same rules for administering the post-test as you did for the pre-test. Be sure to allow the students plenty of time to take the survey. It is best to give the survey right after lunch on Day 3. Otherwise, as time nears for the Portfolio Competition, students are not able to concentrate on the survey and often do poorly because they feel too rushed. Evaluating the Pre/Post-Course Survey Instructions for Pre-Course Survey: 1. If possible, have an assistant or helper use the Instructor’s Answer Key to grade your pre-tests before the end of Day 1. Be sure to grade Part I and Part II of the test separately. 3. Part I is comprised of opinion statements, which the students may agree or disagree with. Simply add up the students total score for Part I. Write the total at the top of the student’s Answer Sheet in the space provided. The highest a student can score on this section is 50. Those who score fairly high on Part I are students who already have a positive attitude and positive expectations regarding financial literacy. Those with low scores are usually the students who aren’t very “tuned in” to financial literacy. 4. Part II is comprised of multiple choice knowledge questions. Use the Instructor’s Answer Key to grade Part II. Write the number of answers the students got CORRECT at the top of the Answer Sheet in the space provided. 5. Study the graded tests and make a tally sheet showing which knowledge questions the students missed the most. Make note of the terms, concepts, and principles the students seem to be weakest in understanding. When you teach these terms and concepts during the course, pay special attention to carefully present these concepts so that students have an opportunity to learn them well. 3. Do not give the students their scores on the pre-test. Keep the students’ graded pre-tests together in once place until the end of the course. Do not lose the tests, because the students will be looking forward to knowing how much their scores improved. Instructions for Post-Course Survey: 1. On Day 3 of the course, in the early afternoon there is a timeslot in the agenda where you administer the survey again as a post-test. Follow the same rules you previously used for the pre-test. 2. It is very important to have the post-tests graded prior to the Competition and Award Ceremony that begins at approximately 3:30 pm. Be sure to take the test early enough so you’ll have time to get them graded. When you grade the post-tests, you will know how well you did teaching the business concepts in the course. 3. When you have graded the post-tests, match each student’s pre-test with his/her post-test. Prior to the Award Ceremony, put a post-it note on each graduation certificate telling the student his/her scores on both the pre and post tests. 4. At the Award Ceremony, give a report about how much the scores for the entire class improved from Day 1 to Day 3. Turn in all of the pre and post tests to the YoungBiz USA office at the end of the course.  Financial Literacy Survey This survey measures your current opinions and understanding of money management concepts. On your answer sheet, write the letter of the answer that is most correct for each statement or question. Your Opinion: Please read the following statements and answer with a number that best corresponds with your opinion, place your answer on your answer sheet. 1 2 3 4 5 Strongly Disagree Disagree Undecided Agree Strongly Agree I think I have the skills to make good decisions about money. Planning and setting goals for the future is important to me. I have the ability to be a reasonably successful investor. Saving money for emergencies is important to me. I spend my money on things I need before I spend it on things I want. I have the determination necessary to achieve my financial goals in life. I want to learn all I can about how to manage money well. It is important for me to establish good credit and avoid debt. Being financially stable and responsible is important to me. I have a good understanding of how to create a personal budget. Your Financial Knowledge: Write the letter of the correct answer on your answer sheet. 11. One key way to control spending is: a. use a credit card for all purchases b. get your mother to do your shopping c. know the difference between things you need and things you want d. get rid of all your fixed expenses 12. “Paying yourself first” means: a. you’re selfish and immature b. you have no self-restraint c. you don’t know much about living on a budget d. you make it a priority to regularly set aside money for personal savings 13. Money that comes into your possession is listed in your budget under the heading of: a. charitable contributions b. credit payments c. income d. collections 14. A person who purchases a piece of ownership in a company is called a/an: broker investor merchant idiot 15. Portions of ownership in a company are sold in units called: pieces morsels shares bonds 16. Investing money in the stock market can be done by: only certified stock market analysts only people with university degrees only certified stock market traders anyone old enough to vote 17. When people earn profit from an investment it’s called a: gift bonus return reward 18. Sometimes companies pay out a percentage of their profits to investors, these are called: derivatives dividends diversions doubloons 19. Some investors invest in ________________ which are made up of many different stocks, or types of investments. starting funds savings bonds treasury notes mutual funds 20. The P/E ratio of a stock is important because: a. it tells you whether the stock is a good buy at its current price b. it tells you how much the stock is going up or down c. it tells you how the principal relates to the earnings d. it tells you how many shares you can buy for $1000 21. An investment that is essentially a “loan” is a: bond fund stock commodity 22. The Rule of 72 is used to calculate: a. how much you can contribute each year to an IRA b. your life expectancy c. how long it will take the money you are investing to double d. how much you should contribute to your IRA in 72 months 23. Credit card companies say you only need to pay a small amount each month, but: a. the less you pay each month, the more you will pay for the item in the end b. you should always try to pay your balance off before the next billing cycle c. when you think of using credit, you should think of big CAUTION signs d. all of the above 24. Public companies that trade stocks on the market must issue a/n ___________________ to all shareholders each year: membership jacket annual letter of appreciation annual report membership report 25. Opportunity cost is a term that refers: a. to all the things you can’t do or have if you make a particular choice b. only to the financial investment required to do something c. to how soon an advertised sale price expires d. to a company’s cost to produce a product 26. Compounding interest causes: a. wrinkles and gray hair b. money you are saving to grow faster and faster as the years go by c. money in your current account to last longer d. life insurance premiums to go down as you get older 27. When you look at ALL of an investor’s investments, you are looking at his/her: portfolio collection bank account anthology 28. A wise investor makes sure that his/her investments are: expensive high risk diversified low yielding 29. When the stock market experiences a period of declining prices in stock market trades, it’s called a/an: bull market bear market horse market pork market 30. When the stock market experiences a period of advancing prices in stock market trades, it’s called a/an: bull market bear market horse market pork market You are now finished, please turn in your survey and answer sheet to the instructor. Student: _________________________________ Date: ______________ Pre-Course Scores: Opinion _______ Knowledge _______ Financial Literacy Survey Answer Sheet #1 Your Opinion: Using the rating system provided, write the number that best corresponds to your opinion of statements 1-10 in the survey. 1. _____ 6. _____ 2. _____ 7. _____ 3. _____ 8. _____ 4. _____ 9. _____ 5. _____ 10. _____ Your Financial Knowledge: Write the letter of the correct answer for statements 11-30 in the survey. 11. _____ 21. _____ 12. _____ 22. _____ 13. _____ 23. _____ 14. _____ 24. _____ 15. _____ 25. _____ 16. _____ 26. _____ 17. _____ 27. _____ 18. _____ 28. _____ 19. _____ 29. _____ 20. _____ 30. _____ Student: _________________________________ Date: ______________ Post-Course Scores: Opinion ______ Knowledge _______ Financial Literacy Survey Answer Sheet #2 Your Opinion: Using the rating system provided, write the number that best corresponds to your opinion of statements 1-10 in the survey. 1. _____ 6. _____ 2. _____ 7. _____ 3. _____ 8. _____ 4. _____ 9. _____ 5. _____ 10. _____ Your Financial Knowledge: Write the letter of the correct answer for statements 11-30 in the survey. 11. _____ 21. _____ 12. _____ 22. _____ 13. _____ 23. _____ 14. _____ 24. _____ 15. _____ 25. _____ 16. _____ 26. _____ 17. _____ 27. _____ 18. _____ 28. _____ 19. _____ 29. _____ 20. _____ 30. _____ Student: _________________________________ Date: ______________ Pre-Course Scores: Opinion _______ Knowledge _______ Financial Literacy Survey Instructor’s Answer Key Your Opinion: Using the rating system provided, write the number that best corresponds to your opinion of statements 1-10 in the survey. 1. _____ 6. _____ 2. _____ 7. _____ 3. _____ 8. _____ 4. _____ 9. _____ 5. _____ 10. _____ Your Financial Knowledge: Write the letter of the correct answer for statements 11-30 in the survey. 11. C 21. A 12. D 22. C 13. C 23. D 14. B 24. C 15. C 25. A 16. C 26. B 17. C 27. A 18. B 28. C 19. D 29. B 20. A 30. A © Copyright 2005, YoungBiz Holding 38