EVerFit

Project Background

The joint research project aims to develop and validate an innovative instrument for measuring the financial literacy of adolescents and young adults in vocational education and training. The instrument is based on technology-enhanced Situational Judgment Tests (SJTs). Within these tests, participants are presented with complex, authentic financial decision-making situations in a technology-supported environment.

Both decision-making processes and the decisions themselves are assessed holistically, taking into account cognitive as well as non-cognitive dispositions. Data are collected using closed and open response formats, as well as through think-aloud protocols, eye-tracking, and emotion recognition.

The validation of the instrument is conducted through multiple qualitative and quantitative studies, enabling the most comprehensive evidence-based interpretation of test scores. The development of the assessment follows the principles of Evidence-Centered Assessment Design (ECD), and test validation is guided by the Standards for Educational and Psychological Testing.

The project will result in a comprehensive assessment tool that allows for a holistic measurement of financial literacy and provides starting points for targeted support measures. The findings are intended to be integrated into (vocational) school practice in order to effectively support the development of learners’ financial literacy.

Key Research Question(s)

To what extent can the financial literacy of adolescents and young adults in vocational education and training be validly measured through authentic, problem-based, and complex scenarios that are relevant to their present and future life contexts?

Project Objective

The objective is to capture both problem-solving processes and financial decision-making holistically by considering cognitive as well as non-cognitive dispositions. Decisions are assessed using both closed and open response formats. Validation is carried out through multiple qualitative and quantitative studies to enable the most robust evidence-based interpretation of test scores.