Financial Educators Council

Educate

"Educate" is where you present high-quality curriculum that's practical, timely and relevant; have a good grasp of the material and share personal stories to illustrate.

Engage

"Engage" means keep the presentation interesting - move around, interact with the students, be entertaining and flexible, and use props to support what you're saying.

Morivate

"Motivate" is where you hook participants in - get them excited to learn by giving them reasons, focusing on the benefits and lifestyle advantages of gaining money skills.

Move to Action

"Move to Action" refers to giving clear steps for participants to follow, offering resources for continuing education, and getting participants' public commitment to take action in the future.

Select the 4 domains references in the Framework for Teaching Personal Finance.

1) Planning & Preparation 2) instruction 3) Classroom Environment 4) Professional Responsibility

Select the 4 domains referenced in the Framework for Teaching Personal Finance

1) Planning and Preperation 2) Instruction 3) Classroom Environment 4) Professional Responsibilities

What are three ways to measure your impact on participants?

1) Pre-and Post-testing 2) Surveys 3) Behavior Changes

Name the six stages of change identified by the Transtheoretical Model of Behavior Change.

1) Precontemplation 2) Contemplation 3) Prepararion 4) Action 5) Maintenance 6) Termination

Why is it so important for financial educators to be aware of the common financial problems people face today?

1) So they can communicate effectively with adults who are experiencing those problems 2) Because financial educators should understand current economic conditions and how they affect people's lives 3) To proactively help young people avoid financial problems 4) All of the above

What are the three areas measured by the NFEC's pre-and post-test instrument?

1) participant morivation to learn 2) knowledge of personal fonance subject matter, and 3) ability to identify the first steps toward improving ones financial situation.

According to Magazine, how many Americans today are relying on the lottery, marriage, or an inheritance to fund their retirement?

40%

Which of the following are good ways to interact with students?

A) Activities B) Asking questions C) Participation Surveys D) Sharing stories C) All of the above

Which of the following are steps on the Neurolinguistic Programming (NLP) pyramid?

A) Beliefs B) Behavior C) Environment D) Identity E) Capabilities F) All of the above

Dreams and lifestyle activities are perfect for learning about students should be used when using which of the following methods?

A) Bloom 's Taxonomy of Higher - order Thinking Skills B) Sales technique C) Gardner's Multiple Intelligences Theory D) All of the above

Making a mistake with one's personal finances can lead one to experience:

A) Fear B) Shame C) Despair D) All of the above

About which of the following aspects you gather feedback from your audience?

A) How you performed as an instructor B) Length of time spent at the event C) What participants liked and what they didn't like D) All of the above

Which of the following represents a future concern that could be partly addressed by increasing people's finanxial capabilities?

A) Inflation B) Lack of retirement savings C) Reductions in numbers of employees covered by pension plans D) all of the above

Why is measurement a key component of a successful financial education program?

A) It helps instructors prepare material and approaches in advance. B) It gives students feedback about knowledge gained. C) It quantifies program sucesa. D) All of the above

Which of the following are common money mistakes?

A) Lacking a clear financial plan C) Taking advice from the wrong people and D) unrealistic investment return expectations E) both A, C & D

Persuasion (sales) technique suggests which of the following are ways to build audience rapport?

A) Learning audience motivations B) Give-and-take with the audience C) Sharing personal stories D) A, B, and C only

The Professional Responsibilities Domain emphasizes:

A) Maintaining accurate records, enhancing content knowledge, engaging the learner's network, reflecting on ways to improve.

Why is learning money knowledge from parents a problem for many children?

A) Many parents are in financial trouble themselves B) Bad habits are passed down the generations C) Both A & B

Which of the following represents a benefit of the campaign approach to teaching financial education?

A) Reduce marketing costs for new client acquisition B) Deliver a measurable ROI C) Gain media coverage D) Build positive community relationships E) All of the above

Which of the following are key components approach teaching literacy?

A) Setting personal, business, and philanthropic objectives for a program or initiative C) Measurement to quantify success D) Researching target audience and testing the concept E) A, C, and D only

Which of the following represent good methods for engaging students in financial education?

A) Showing your passion for the subject. C) Keeping topics relevant to participants' D) Both a and c.

Why is gathering and presenting accurate data from your events important

A) So you can leverage it and improve as in instructor. B) To open up potential funding opportunities C) To have clear performance expectations D) A and C E) All of the above

To learn more about your target audience, you should consult:

A) The audience members themselves B) Organizations who serve your audience C) Both a and b

What you consider when developing a learning experience?

A) The participants age, socioeconomic background and motivation to learn B) The type of music they enjoy C) Program name and content shared. D) All the above

Why do financial literacy programs fail?

A) They 're boring B) The curriculum is outdated C) They fail to measure results and conduct follow-up D) They don't spend enough time teaching the lessons E) All of the above

How can you leverage the Framework for Teaching Personal Finance?

A) To improve you effectiveness financial education instructor. B) To set clear performance measures. C) To provide guidance for professional development. D) All of the above.

What is the point of consulting directly with participants when planning a financial education program?

A) give participants a sense of ownership B) To help you tailor the program to participant needs C) To build participant self-esteem D) all of the above

Which of the following are good ways to keep an audience engaged?

A) moving around B) interacting with the audience C) using a variety of props D) going with the flow E) All of the above

In Bloom's Taxonomy of Higher-order Thinking Skills, "application" refers to:

Ability to apply knowledge in various real-world situations.

According to Gardner's Multiple Intelligences Theory,which of the following represents a strength of people with logical-mathematical intelligence?

Analyzing and deductively solving problems.

Richer, Fuller Lives

As a financial educator, you are an ambassador of financial literacy and have the capability to help others live richer, fuller lives.

What are the five main financial problem areas, as identified by the NFEC?

Asets, Income, Credit, Insurance and Debt

following is a good teaching technique to help students build positive financial psychology?

Asking open-ended questions instead of yes or no questions.

following reinforces poor money habits?

B) Past experiences with money C) Advertising E) both b and c

What does holistic mean?

Based on the theory that a whole system has properties greater than the sum of its parts. Our teaching approach is holistic because the different pieces of the program, when joined together, create a campaign that has more impact as a whole than would the sum of its individual section

The Instruction Domain emphasizes:

Communication with participants,promoting positive fnancial behaviors, engaging participants and demonstrating flexibility to the learners needs.

Which of the following describes something you can expect to gain by completing the CFEI course?

Confidence in your ability to teach personal finance. Teaching principles and education theory behind the financial literacy curriculum. Greater enjoyment while teaching personal finance. All of these above.

Which of the following describes something you can expect to gain by completing the CFEI course

Confidence in your ability to teach personal finance. Teaching principles and educational theory behind the financial literacy curriculum. Greater enjoyment while teaching personal finance. All of the above.

Motivating Terminology

Consider the audience and the dreams and goals they identified when choosing the language you use; use terms that will be motivating to them.

The Planning and Preparation Domain emphasizes:

Content knowledge, instructional outcomes, instructional design and learner assessments.

A _____________ financial education instructor represents a master teaching level where instructors make significant contributions in the classroom to encourage participants to take considerable responsibility for their own learning, as well as outside the classroom as leaders among educational peers and the broader community.

Distinguished

4 Domain's of Framework for Teaching Personal Finance

Domain 1) Planning & Preparation Domain 2) Classroom Environment Domain 3) Instruction Domain 4) Professional Responsibilities

Phase 3: Solutions

During Phase 3, instructors learn to offer solutions to the real-world situations people face, focusing on the benefits of learning about money and differentiating the subject matter from other information.

The Framework for Teaching Personal Finance was designed for...

Educators.

The Classroom Environment Domain emphasizes:

Establishing a culture for learning, classroom management and organization so physical or virtual space.

What are the two emotions that drive most financial decisions?

Fear & Greed

What are the two emotions that drive most financial decisions?

Fear and Greed

Extending thinking regarding personal finance topics which requires connections, extention, and complex reasoning to make financial decisions aligned with one's personal financial goals. This focus on behavior molding or modification in a core principle of __________.

Financial Capability

What is the top reason students give for dropping out of college?

Financial reasons

During the training, what did you learn was an important way to motivate audiences to get a financial education?

Focus on the benefits and lifestyle advantages of money skills throughout the presentation

What are the important features of being at the characterizing level of Bloom's Taxonomy?

Forming long-term values that influence behavior

The purpose of a pre-test is to...

Get a baseline indicator of participants' financial knowledge.

What should you do if a participanr aaks you a question to which you don't know tbe answer?

I don't know, but I'll find out for you

Maximize Impact

If you take notes about the dreams and goals students share, you can refer back to them later in the presentation to maximize impact.

Phase 4: Action

If you've done the first 3 steps right, Phase 4 - motivating them to take action - will follow naturally.

When do people begin developing a financial mindset?

In childhood

Participation

In the context of financial education, holistic refers to enlisting participation from all the people and organizations that support the learning and development of the target audience.

What is one of the benefits of the NFEC's holistic approach to teaching financial literacy?

Increases the reach and frequency of the message

Which of the following represents a benefit people gain by getting a financial education?

Inheriting a large sum of money More free time Being make difference in the world Both B and C

According to current definitions, which of the following is an important aspect of financial literacy?

It is absolute, but must evolve and adapt over time.

According to current definitions, which of the following is an important aspect of financial literacy?

It is not absolute, but must evolve and adapt over time

What does a financial education instructor help students do as part of the Ben Franklin Close?

List the pros and cons of learning about money.

Phase 2: Rapport

Listening and Rapport, Phase 2, has to do with active listening to gain understanding of audience psychographics, building trust and finding ways to relate to the students on a personal level.

What are the principles behind the NFEC's teaching philosophy?

Motivate, engage, educate, and move to action

Which of the following lists the three things the NFEC recommends measuring among participants both before and after a financial education event?

Motivation, knowledge, and ability to identify first action steps

The term "financial capability" is language you would most appropriately use for which audience?

Other financial educators

Phase 1: Preperation

Phase 1 of the Sales Approach - Preparation - involves believing in what you're teaching, knowing thennaterial, learning about the audience and setting clear goals in advance.

Asking probing questions to understand participants' motivations falls at which Phase in the Sales Approach to teaching?

Phase 2: Listening and Rapport

During which Phase in the Sales Approach to teaching would you place special focus on the benefits of financial knowledge?

Phase 3: Offer Solutions

Dreams and lifestyle activities help participants do which of the following?

Plan to accomplish their goals

Name two educational methods that will help your participanrs remember and relate to the curriculum topics

Practical Stories Content Knowledge Prepare Relax Time

Which of the following is critical to remember to accurately measure program impact?

Pre-and post-test qestions must be identical

How should you prepare for each presentation?

Read through the lessons carefully and then practice your delivery out loud

According to Bloom's Taxonomy, a student who is willing only to participate passively is at what learning level?

Receiving

The most effective financial instruction helps participants...

Recognize how the information has value to their individual lives.

Where do most people get their money knowledge? (Mark all that apply.)

Salespeople Trial and error Friends Parents

What is the highest level on Maslow's Hierarchy of Needs?

Self-actualizing

From the following list, choose the one topic that the NFEC suggests you do not cover, with the average audience so you can focus on more practical lessons.

Specific tax code regulations

Language & Tone

Tailoring your language and tone to meet audience needs will have major impact on retention rates.

To facilitate lasting behavior modification, educators must help students:

Take action towards improving their personal financial situation.

What should you do if you participant's question?

Tell the participant you don't know

According to the Transtheoretical Model of Behavior Change, training can be considered a success when participants reach which of the following stages?

Termination

Getting people to which stage of change is the NFEC's primary goal?

Termination

Phase 5: Feedback

The 5th and final Phase is where you solicit their feedback about the learning process and offer them resources to keep learning after the event is over.

Who is The primarily responsible for giving an individual a financial education?

The Individual

Which these is a primary topic that will be covered in the CFEI training?

The campaign approach to financial literacy

Which of these is a primary topic that will be covered in the CFEI training?

The campaign approach to financial literacy.

Sustainability

The holistic approach to teaching financial literacy gains widespread recognition, builds sustainability, gathers community support, and improves results by empowering participants with practical financial skills.

The primary responsibility for teaching people financial skills rests upon

The individual

Holistic Approach

The word "holistic" means emphasizing the functional relationship between the parts and the whole.

Desired Lifestyles

Using the NLP method, you can help students relate money to their desired lifestyles, moving them up the NLP pyramid to the point where financial capability becomes part of their identity.

You have motivated, engaged, and educated your audience. What else do you want your instruction to accomplish?

You want the participants to take action toward improving their finances.