We believe financial literacy is an important life skill for the holistic development of each student. NCFE's National Financial Literacy Assessment Test (NCFE-NFLAT) is a step in that direction. This is a first of its kind national level test, conducted by the National Centre for Financial Education (NCFE), to measure the level of financial awareness among school students. Through this test NCFE aims to encourage school students to obtain basic financial skills which are essential for their full participation in society.
This year the target participants are school students of Class VI to X, NCFE-NFLAT would assess their knowledge on topics such as Money, Savings, Banking, Budgeting, Insurance, Investment, Retirement planning, etc. The test shall be conducted online (within the School) and offline (Pen & Paper) mode across the country, both in English and Hindi.
NCFE-NFLAT was launched in the year 2013-14 by the NCFE which is setup as part of NISM, with support from all financial sector regulators i.e. RBI, SEBI, IRDAI & PFRDA for implementation of the National Strategy for Financial Education (NSFE).
Student registration through School only
- The school has to register itself online first. Subsequent to the school registration, details of the students interested in the test need to be added/ uploaded by the school irrespective of the mode of examination being online or offline.
- The test registration period shall be from 15th October, 2016 to 22nd November, 2016
Two-pronged approach for NFLAT 2016-17
- For 2016-17 the NFLAT shall be conducted for students from Class 6th to 10th Standard.
- NFLAT Jr. 2016-17: This test will be conducted for students of 6th to 8th Standard
- NFLAT 2016-17: This test will be conducted for students of 9th and 10th Standard
NFLAT Test is available in Online (within school) or Offline (Pen & Paper) Mode
- 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 – 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 schools opting for the Online test shall be paid a fixed incentive of Rs.10 per slot per student (appeared, not registered) for both NFLAT and NFLAT Jr. to meet their cost toward student’s infrastructure.
- 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. Any changes/alteration in the dates, slot timings may be considered subject to availability of the same.
- The school shall update students with the test date and time, well in advance.
- 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,
Maharashtra 400 703
Phone no:- 022 6673 5100- 02
- NCFE’s decision in this regard shall be final and binding on all the participants.
Regional and National Rounds
- 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).
- These top 10 schools from each zone shall be shortlisted on the basis of participation and performance of the respective students (6th to 10th Standard) appearing for the NFLAT and NFLAT Jr. Test.
- 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 nominated students shall be called for the Regional Round Competition comprising of advance test and/or debate and/or quiz and/or presentation or combinations thereof. Top 3 schools from each zone (i.e. 15 schools in total) will be declared as regional winners.
- 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.
- All our national winner schools (3 in total) shall be awarded with cash reward of Rs. 35,000/- and a Shield. The winning students (6 in total) shall be felicitated with Certificates, Medals & Laptops.
- All our regional winner schools (15 in total) shall be awarded with cash reward of Rs. 25,000 and a Shield. The winning students (30 in total) shall be felicitated with Certificates, Medals & Tablets/Kindles.
- 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.
* Online test shall be conducted at the respective schools having adequate IT Infrastructure and internet connectivity.
** Offline test shall be conducted at the respective school through Pen & Paper mode.
|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.|
NFLAT would cover the following topics
- Money Matters: Smart Goals and Financial Analysis
- Budgeting: Balancing the Means and the Ends
- Understanding insurance and risk management
- Understanding Investments
- Basics of Banking
- Introduction to Stocks and Bonds
- Investments: The wider Spectrum
- Beyond Savings: Borrowing
- Retirement as a financial goal
Please note the syllabus for the NFLAT & NFLAT Jr. shall remain the same. The difficulty level of the NFLAT & NFLAT Jr. shall vary.
Students can refer the following study materials to prepare for the test.
- Pocket Money Workbook English | Hindi
- Financial Education for School Children English | Hindi
- Introduction to Retirement Planning English
- Commodity Futures Market English
- Personal Finance for School Students English
- Financial Education Material by RBI Basics of Banking
- Financial Education Material by IRDAI Basics of Insurance
The above materials are for reference only. Students are advised to prepare for the test based on the topics mentioned in the detailed NFLAT syllabus.
For School and Students (Offline and Online)
(School and Students)
Cash reward of Rs. 35,000 and a Shield/Trophy
Certificates, Medals & Laptops.
(School and Students)
Cash reward of Rs. 25,000 and a Shield/Trophy
Certificates, Medals & Tablets/Kindles
(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.)
Mizoram School Board Notification on NCFE-NFLAT 2016-17 Click Here
ICSE Notification on NCFE-NFLAT 2016-17 Click Here
RBI Notification on NCFE-NFLAT 2016-17 Click Here
IRDAI Notification on NCFE-NFLAT 2016-17 Click Here
PFRDA Notification on NCFE-NFLAT 2016-17 Click Here
SEBI Notification on NCFE-NFLAT 2016-17 Click Here
For any queries, write to us at email@example.com or Call us at 022- 66734600/01/02
Plot No. 82, Sector - 17,
Vashi, Navi Mumbai - 400 703