MoneyU Uses Formative and Summative Assessments
MoneyU includes a 50 item pre and post- test and on-going feedback designed to assess a learner’s understanding of key financial concepts. The scores of the pre and the post-tests are available to the student and their instructor or parent.
Each lesson includes formative, practice questions that reinforce the point and allow learners to make sure they got it:
- There are no scores kept on these low-stakes practice questions
- Feedback is given for every answer
- Learners may proceed through a lesson only after answering practice questions correctly.
Students also participate in online activities to see how well they can apply what they have learned. For instance, they may be asked to identify where information about specific fees are disclosed on a credit card agreement, or to compare health care benefits.
Since these questions and activities are presented in a fun and relaxed tone and the results are not reported to the parent or teacher, students don’t feel uptight while the training is taking place. Students are free to learn at their own pace, even when it means going back to review subject matter that they had trouble retaining.