Wednesday, November 9, 2016

National Financial Literacy Assessment Test (NFLAT 2017)


About


National Centre for Financial Education is inviting applications for National Financial Literacy Assessment Test (NCFE-NFLAT). The main aim of the test is to measure financial awareness among school students and to give them basic financial skills for their full participation in the society.

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).

The topics for the test will be Money, Savings, Banking, Budgeting, Insurance, Investment, Retirement planning, etc. 

The test shall be conducted in two categories i.e. 

  • NFLAT Junior (Class 6th to 8th Standard) 
  • NFLAT (Class 9th and 10th Standard)


The test shall be conducted online (within the School) and offline (Pen & Paper) mode across the country, both in English and Hindi. 

Subsequent to the school registration, students shall be added online in the respective school irrespective of applying Online or Offline test mode. The school has to invigilate the online/offline test for their own students and any assistance required for the online/offline test shall be provided by NCFE/NISM Team.


Eligibility Criteria


  • Gender: Any
  • Region: India
  • Class/Age: From Class 6th to 10th
  • Details: The candidates from 6th to 10th class are eligible to apply for this test. There is no other special criteria required to apply for NFLAT 2017.



Reward


The National Centre for Financial Education will distribute awards to the schools and the students according to the category of their positions. The awards details for students and schools are given in the table below:


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.)



How to Apply


The candidates are required to fill the application form before the due date and submit their entry. The instructions for filling the application form is given in the link given below;



  • The registration should be done by the school through online on the official website of NCFE.
  • After completion of registration, the school shall be provided with an option to select slot & date of their choice for conducting the test in their premises
  • At last, the school needs to submit the entry.



Submission of NFLAT Application Form


The school premises should ensure that the details filled in the application form are correct before the submission of application form. Participants should keep the screenshot or the photocopy of the application form for future reference.


Selection Process



NFLAT Test is available in Online (within school) or Offline (Pen & Paper) Mode 

Online Test



  • The NFLAT and NFLAT Jr. test shall be conducted in the respective schools. The schools having adequate IT Infrastructure and internet connectivity shall be allowed to conduct the test at their premises.
  • The Online test shall be conducted over a period of 44 days i.e. 25 November 2016 and 7 January, 2017.
  • The Online test shall be available regularly in different slots and timings for the period of 44 days. The school has to invigilate the online test for their own students and any assistance required for the online test shall be provided by NCFE/NISM Team.
  • The school shall update students with the test date and time, well in advance.
For further information, click the link given below;

http://www.ncfeindia.org/nflat


Offline Test


  • The Offline test shall be conducted in pen and paper mode only. However, the schools have to comply with the registration process online.
  • The schools shall be provided with OMR sheets and Question papers for the test (NFLAT and NFLAT Jr).
  • The Offline test shall be available from 1 December 2016 to 10 December 2016 (10 days).
  • The respective school shall conduct the test under its invigilation within the given period (1 December 2016 to 10 December 2016) and send back the answered OMR sheets to NISM by or before 20 December 2016. OMR sheets received after 20 December 2016 shall not be considered.


The OMR sheets shall be sent to the following address:

National Institute of Securities Markets,
NISM Bhavan, Plot No. 82, 
Sector - 17, Vashi,
Navi Mumbai 
Maharashtra 400 703 
Phone no:- 022 6673 5100- 02


NOTE: NCFE’s decision in this regard shall be final and binding on all the participants.

Second Round of Competition


  • After the first round of offline/online test, NISM/NCFE shall compile scores of all the appeared candidates for NFLAT (6th to 10th Std) through suitable moderation, if required, and rank the top 10 schools from each zone (South, East, West, North and Central). 
  • The shortlisted school shall nominate 2 students to appear for the next round of competition. These 2 students must be from among all who have appeared either for NFLAT Jr. or NFLAT (i.e. Class 6th to 10th Std) test from the respective school.
  • The National Round Competition comprising of advance test and/or debate and/or quiz and/or presentation or combinations thereof would be conducted among all the regional winners and top 3 schools will be declared as national winners.



For further information click the link given below;

Exam Pattern



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.




Important Dates


  • NFLAT Registration opens on: October 15, 2016
  • NFLAT Registration closes on: November 22, 2016
  • NFLAT Exam Date(First level): November 25, 2016 to January 7, 2017 (Online Test)
                                                      December 1 to December 10, 2016 (Offline Test)
  • NFLAT Exam Date (Second Level): February 1 to February 28, 2017



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