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ERIC Number: EJ1134051
Record Type: Journal
Publication Date: 2017
Pages: 13
Abstractor: As Provided
ISSN: ISSN-0022-0485
Using the U.S. "Test of Financial Literacy" in Germany--Adaptation and Validation
Förster, Manuel; Happ, Roland; Molerov, Dimitar
Journal of Economic Education, v48 n2 p123-135 2017
In this article, the authors present the adaptation and validation processes conducted to render the American "Test of Financial Literacy" (TFL) suitable for use in Germany (TFL-G). First, they outline the translation procedure followed and the various cultural adjustments made in line with international standards. Next, they present results from the validation of the TFL-G's content and relations between test scores and external variables, including test takers' prior economic education and interest in economic topics. Preliminary analyses of data gathered from expert interviews and cognitive labs, and the results of the first administration to first-year higher education students (N = 1,108) indicate that the TFL-G is a valid instrument to assess young adults' understanding of personal finance in Germany. Perspectives for future research are discussed.
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Publication Type: Journal Articles; Reports - Evaluative
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Germany
Grant or Contract Numbers: N/A