(Notification) National Financial Literacy Assessment Test (NCFE-NFLAT) - 2016-17
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(Notification) National Financial Literacy Assessment Test (NCFE-NFLAT) - 2016-17
Registrations for National Centre for Financial Education (NCFE)’s National Financial Literacy Assessment Test (NFLAT) have started from October 15, 2016. The National Institute of Securities Markets (NISM), Navi Mumbai, has invited all school students from classes VI to X to participate in the National Financial Literacy Assessment Test (NCFE-NFLAT 2016-17).
Test Details:
| NFLAT (9th & 10th Standard) | NFLAT Jr. (6th to 8th Standard) |
| No Fee: The test is completely free | No Fee: The test is completely free |
| Registration: Online | Registration: Online |
| Venue:- Respective school as Test Centre | Venue:- Respective school as Test Centre |
| Duration of examination: 1 hour | Duration of examination: 1 hour |
| Medium of examination: English and Hindi | Medium of examination: English and Hindi |
| Number of Questions: 75 | Number of Questions: 50 |
| Type of questions: Multiple choices with combinations of 1-mark, 2-marks and 3-marks questions. | Type of questions: Multiple choice of 1-mark each. |
| Negative marking of 25% for wrongly attempted questions i.e., -0.25 for 1-mark questions, -0.5 for 2-marks questions, -0.75 for 3-mark questions. | No Negative marking for NFLAT Jr. |
The test will be conducted online (within the school with adequate IT infrastructure and internet connectivity) and offline (pen and paper within the school). The test will be conducted in two categories, that is, NFLAT Junior (Class VI to VIII) and NFLAT (Class IX and X).
Test Syllabus:
The duration of the NFLAT and NFLAT Junior tests will be 60 minutes and will contain 75 and 50 questions, respectively. The test will be conducted in both English and Hindi. Syllabus details are available on NCFE website.
- NFLAT would cover the following topics
- Money Matters: Smart Goals and Financial Analysis
- Budgeting: Balancing the Means and the Ends
- Understanding insurance and risk management
- Understanding Investments
- Basics of Banking
- Introduction to Stocks and Bonds
- Investments: The wider Spectrum
- Beyond Savings: Borrowing
- Retirement as a financial goal
Please note the syllabus for the NFLAT & NFLAT Jr. shall remain the same. The difficulty level of the NFLAT & NFLAT Jr. shall vary.
Rewards and Recognition
| For School and Students (Offline and Online) | |
| National Winners (School and Students) |
School Winners Cash reward of Rs. 35,000 and a Shield/Trophy |
|
Student Winners Certificates, Medals & Laptops. |
|
| Regional Winners (School and Students) |
School Winners Cash reward of Rs. 25,000 and a Shield/Trophy |
|
Student Winners Certificates, Medals & Tablets/Kindles |
|
| Special Recognition (School and Students) | All students who have appeared in the second round but failed to advance to the next shall be felicitated with a Certificate and Cash Rewards/Gift vouchers categorized as Certificate of Special Recognition and their respective schools would be felicitated with a Shield. |
| Certificate of Participation | All the remaining students participating in the test (NFLAT Jr. and NFLAT) |
| To be eligible for Second Round of Competition, school must have at least 200 students participated in the NFLAT Test 2016-17 (NFLAT & NFLAT Jr.) | |
National school winners (top 3 schools) will be awarded with cash reward of 35,000/- each and a shield and the national winner students (pair 1+1) of the schools will be felicitated with certificates, medals and laptops.
Regional school winners (top 3 schools in each zone) will be awarded with cash reward of 25,000 each and a shield and the regional winner students (pair 1+1) will be felicitated with certificates, medals and tablets/kindles.
Study Materials:
Students can refer the following study materials to prepare for the test.
- Pocket Money Workbook English | Hindi
- Financial Education for School Children English | Hindi
- Introduction to Retirement Planning English
- Commodity Futures Market English
- Personal Finance for School Students English
- Financial Education Material by RBI Basics of Banking
- Financial Education Material by IRDAI Basics of Insurance
The above materials are for reference only. Students are advised to prepare for the test based on the topics mentioned in the detailed NFLAT syllabus.
How to Apply:
The schools have to register themselves online. Subsequent to the school registration, student’s registration will be done by the respective schools. Schools will be provided with the option of choosing online/offline test mode. The school has to invigilate the online/offline test for their own students. Any assistance required for the online/offline test will be provided by NCFE/NISM Team.
Important Dates:
| Online Test | Offline Test | |
|---|---|---|
| Registration opens on | 15th October, 2016 | 15th October, 2016 |
| Registration closes on | 22nd November, 2016 | 22nd November, 2016 |
| First Level-Examination Date | 25th November - 7th January, 2017* | 1st December - 10 December, 2016** |
| Second Level-Regional & National Competition | 1st February 2017 to 28th February 2017 | |
* Online test shall be conducted at the respective schools having adequate IT Infrastructure and internet connectivity.
** Offline test shall be conducted at the respective school through Pen & Paper mode.
Click Here for ICSE Official Notification
Click Here for RBI Official Notification
Click Here to Download Detailed Syllabus
Click Here to Apply Online
Courtesy: NFLAT