EVerFit - Development and validation of a technology-based assessment for the diagnosis of financial competence close to financial action

The joint project aims to develop and validate an innovative instrument for measuring the financial literacy of adolescents and young adults in vocational training. It involves technology-based Situational Judgement Tests (SJT). In these tests, complex authentic situations relating to financial products are presented, on which well-founded decisions have to be made. Various central content areas of the financial domain are taken into account in order to cover the core spectrum of financial decision-making situations.

The aim of the project is to capture both decision-making processes and the decisions themselves holistically, taking into account both cognitive and non-cognitive dispositions.

• Step 1: Capture and validation
  The decisions are recorded using closed and open response formats. 
  Validation is carried out via several qualitative and quantitative studies, which allow the best possible evidence-based interpretation of the test scores. Assessment development follows the Evidence Centered Assessment Design (ECD), while test validation is based on the Standards of Educational and Psychological Testing.
• Step 2: Integrating the instrument into practice
  The result is an assessment that makes it possible to measure financial literacy and to identify starting points for targeted support measures. This instrument and the support measures can be integrated directly into vocational school practice in order to effectively support the development of learners' financial literacy.
• Step 3: Feedback and knowledge transfer
  Feedback strategies will be developed with the teachers and dissemination workshops will be offered for teachers in various federal states. 

• Project duration: The EVerFit project runs from February 2025 to January 2028.
• Funding: This project is funded by the Federal Ministry of Education and Research.

Professor Dr Manuel Förster (Joint management)
Technical University of Munich
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Professor Dr Bärbel Fürstenau
Dresden University of Technology
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Professor Dr Roland Happ
Leipzig University
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Professor Dr Mandy Hommel
Ostbayrische Technische Hochschule Amberg-Weiden
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Professor Dr Christin Siegfried
University of Potsdam
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Professor Dr Eveline Wuttke
Goethe University Frankfurt
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