The first European Money Quiz takes place this spring as part of a fun new financial education initiative that reaches out to thousands of young people in 30 European countries - but not Malta.
Boosting financial literacy levels and raising awareness on benefits of better financial education are among the objectives of the quiz.
National finals will be played during March through a live online quiz that can simultaneously be played by as many as 7,000 classrooms. Winning classrooms from the participating countries will be invited to send a delegation to Brussels to play directly against students from other European countries during the European finals on May 8.
The quiz has been developed by national banking associations across Europe under coordination of the European Banking Federation.
The question-based online learning platform Kahoot! will serve as the channel for the quiz, which can be played in the national language of the countries taking part. Banking associations in Europe already cooperate closely in the field of financial education. European Money Week, which this year starts on March 112, is another example of that cooperation.
“This international quiz is a really cool and new way to boost financial literacy,” says Beatriz Morilla, chair of the EBF Financial Education Project Group. “We want to help young people prepare for their future in our increasingly digital world and teach them what they can do to not put their personal finances at risk. This quiz is a fun way to learn about money and personal finance, both for students and for teachers.”
Wim Mijs, chief executive officer of the EBF added: “It’s almost like learning to drive a car and getting a driver’s licence. Accidents will happen if you do not manage it properly. Financial education really is about equipping our kids with the right insights and skills to face their future in our increasingly complex world.”
According to the latest international benchmark for financial education, the PISA survey conducted every five years by the Organisation for Economic Cooperation and Development (OECD), more than one out of five 15-year old students scored below baseline proficiency when tested for financial literacy.
These practices quizzes, as well as more information about the quiz, are available on www.europeanmoneyquiz.eu.