NFLAT (National Financial Literacy Assessment Test)
In a developing country like india it is important that our future generations, both boys and girls, are made economically aware. It is also important that they understand the concept of money, its various facets and also the current fiscal scenario prevailing in the country. Towards this end the central board of secondary education(CBSE) has tied up with the national institute of securities markets(NISM) , Mumbai. The latter is the nodel agency of the National Centre for Financial Education(NCFE) together they conduct the National Financial Literacy Test (NFLAT) which is the first national level test to measure and improve the level of financial literacy and basic knowledge among students of class VIII, IX, X. This initiative is aimed at encouraging school students to obtain basic financial literacy and also provide the level of financial skills required for taking responsible financial decision in the life.
It may be important to mention here that NCFE is a joint initiative of India’s financial services regulators like the RBI (Reserve Bank of India), SEBI (Securities & Exchange Board of India), IRDA (Insurance Regulatory and Development Authority), PFRDA (Pension Fund Regulatory & Development Authority) and FMC (Forward Markets Commission).
The Salient features of the book are:
• Comprehensive guidelines to the Test are given.
• Important topic such as money, budgeting, investment, banking, savings, borrowings, insurance, retirement planning are covered.
• Text is in simple language and easy to understand.
• Syllabus has been meticulously followed.
• Important concepts & definitions are given as Key Notes.
• Testing is done by Multiple Choice Questions which have answers &explanations alongside.
• Pictures and examples are given to highlight important concepts.
We are sure the book will be an important tool in imparting skills which are critical to the holistic development of the students.
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