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Financial literacy is the possession of skills, knowledge, and behaviors that allow an individual to make informed decisions regarding money. Financial literacy, financial education and financial knowledge are used interchangeably. [1] Financially unsophisticated individuals cannot plan financially because of their poor financial knowledge.
Financial literacy curricula can be implemented in various settings, such as schools, colleges, community centers, and workplaces. Depending on the target audience, the financial literacy content can be customized to align with different age groups, financial circumstances, and specific needs. Recognizing the significance of financial literacy ...
Taking Ownership of the Future: The National Strategy for Financial Literacy is a comprehensive blueprint for improving financial literacy in America, published by the Commission. This national strategy covers 13 areas of financial education and contains 26 specific calls to action. [2]
Triple bottom line (TBL) accounting expands the traditional reporting framework to take into account social and environmental performance in addition to financial performance. In 1981, Freer Spreckley first articulated the triple bottom line framework in a publication called Social Audit - A Management Tool for Co-operative Working . [ 8 ]
National Assessment of Educational Progress (NAEP); State achievement tests are standardized tests.These may be required in American public schools for the schools to receive federal funding, according to the US Public Law 107-110 originally passed as Elementary and Secondary Education Act of 1965, and currently authorized as Every Student Succeeds Act in 2015.
Multiple choice questions lend themselves to the development of objective assessment items, but without author training, questions can be subjective in nature. Because this style of test does not require a teacher to interpret answers, test-takers are graded purely on their selections, creating a lower likelihood of teacher bias in the results. [8]
Understanding by Design, or UbD, is an educational theory for curriculum design of a school subject, where planners look at the desired outcomes at the end of the study in order to design curriculum units, performance assessments, and classroom instruction. [1]
The test is offered by the College Board. Approximately 2,900 colleges and universities will grant college credits for each test. Both U.S. and international schools grant CLEP credit. Most of the tests are 90 minutes long. As of 2023, they cost $90 each; they will cost $93 in the 2023–2024 school year. [2]