|Frequently Asked Questions|
1. I am a student registered for NCFE-NFLAT, my school is closed for vacation, how can I get my hall ticket now?
Answer: The hall tickets for the NCFE-NFLAT can be downloaded by logging in through the school login ID and password provided at the time of school registration. Therefore, you are advised to contact your school and request your school to provide you the hall ticket.
Once you receive the hall ticket, please print the hall ticket and paste your recent passport size photograph on the hall ticket and take the signature of your Principal or a Gazetted Officer (signature and seal/stamp). You must carry the hall ticket to the test center without which you will not be allowed to appear for the test.
2. We are a school registered for NCFE-NFLAT and we have closed for the winter vacation, how can we download the hall ticket?
Answer: The hall tickets are available for download at “Download Hall Tickets for NCFE-NFLAT”. The school can download it’s students’ hall tickets by using the same user name and password that it received at the time of registration.The schools can either mail the hall tickets to their students or inform the students to collect hall tickets on a prescribed date.
However, please inform your students that they should print the hall ticket, paste their photograph on it and take the signature of your school’s Principal or a Gazetted Officer (signature and stamp/seal) on this photograph. Students must carry the hall ticket to the test center and submit to the invigilator on the day of the examination failing which the student will not be allowed to appear for the test.
3. What is NCFE-NFLAT?
Answer: National Financial Literacy Assessment Test (NCFE-NFLAT) is a test organized by National Centre for Financial Education (NCFE), a joint initiative of Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority (IRDA), Pension Fund Regulatoryand Development Authority (PFRDA) and Forward Markets Commission (FMC). It is India’s first test at national-level to measure the level of financial literacy among school students of Classes VIII to X. The Assessment is designed to test basic financial knowledge of school students and also educate them in the process. At the same time, NCFE-NFLAT gives students and schools an opportunity to win prizes such as laptops, tablets, trophies etc. at national and regional levels. The national and regional winners at individual as well as school level will be felicitated at an exclusive grand ceremony.4. What is NCFE?
Answer: National Centre for Financial Education (NCFE) is a joint initiative of India’s financial services regulators Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority (IRDA), Pension Fund Regulatory and Development Authority (PFRDA) and Forward Markets Commission (FMC). NCFE under the aegis of National Institute of Securities Markets (NISM) undertakes various activities to further the cause of financial literacy and inclusion in India in a collaborative manner.
To achieve the above goal, NCFE invites all schools and students to register for National Financial Literacy Assessment Test (NCFE-NFLAT).5. Why should I take NCFE-NFLAT?
Answer: The test brings to you an opportunity to learn about one of the most critical life skill, “Managing money”. Apart from the recognition at the National Level, it will also give you a unique opportunity to become a money pundit. Here’s what else it offers:
6. Who all are eligible to appear for the NCFE-NFLAT?
Answer: The Assessment is open to all students from Classes VIII, IX and X enrolled in a school affiliated to any recognized educational boards or trusts in India. Private Coaching Institute and similar entities are not allowed to participate. Only the schools can register their students and direct registration by individual students is not allowed. Students should route their registration through their school only.
7. Is there any lower/upper limits to the number of registrations from a school?
Answer: No.There are no lower/ upper limits to the number of registered applicants from a school. However, as there are only limited seats available for this test, these seats will be allotted on first come first served basis.
8. What is the time window for which the registrations will be open?
Answer: The registrations will remain open from 1st November,2013 to 29th November, 2013. Schools should complete the registration process (registration of all their students that they wish to take this test) on or before the last date.9. My school does not want to register for the NCFE-NFLAT, but I am very eager to write the exam. Can I do it on my own?
Answer: You can request your school authority to register you online before the registrations are closed (i.e., before 29th of November, 2013).
11. I am yet to receive my Roll No. / Admit Card/ Hall ticket. I have checked with my school authorities and they have not received them either. What should I do?
Answer: Hall tickets will be made available online and the schools will be informed of this by email. Schools shall log in using the same user name and password that it received at the time of registration and download the hall tickets of all its students. In case of any difficulty or if you need any assistance in this regard, please request your Principal / Concerned Teacher to inform us. We will assist you in downloading the hall tickets.
Hall Tickets are available now. Download Hall Tickets12. Are there any special books which the applicants should refer to for the NCFE-NFLAT preparation?
Answer: For preparation purposes, applicants can refer to the study materials uploaded in the “Download Study Material” section of the website, which can be downloaded for self-study. These resources cover basic topics of financial knowledge that school students must be aware of. However, this material is for reference purpose only and the questions in the test might be from the topics not covered in these references. Students are advised to prepare based on the topics mentioned in the detailed test syllabus (Test Objectives).13. What is the syllabus for the NCFE-NFLAT?
Answer: The questions of the NCFE-NFLAT would be based out of the following topics:
The detailed test syllabus is provide in the ‘Test Objectives’ document. Click here to download.14. In which language is NCFE-NFLAT conducted?
Answer: NCFE-NFLAT can be taken in two languages: English and Hindi. You would be asked to choose the language at the beginning of the examination. Thereafter, questions will appear on the screen in the chosen language. In addition to this, you can also change the language for any question in between the examination as per your convenience.
15. Can I take sample test to get a feel of the online testing experience?
Answer: Click here to Take a Sample Test
16. What is the structure and pattern of the examination?
Answer: The test specifications are as follows:
Duration of examination: 1 hour
Medium of examination: English and Hindi
Number of Questions: 75 MCQs for 100 marks
Type of questions:
Combination of 1 mark, 2 mark and 3 mark questions
4 options (alternatives) for each question
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, etc
17. When are the results of NCFE-NFLAT declared?
Answer: Results of NCFE-NFLAT will be declared on 23rd January, 2014. Schools can download the results of their students by logging in the system. Further, Certificates of Participation for all the students who appeared for NCFE-NFLAT from a particular school will be dispatched to the concerned schools.18. What are the prizes to be won by taking part in the NCFE-NFLAT?
Answer: There are a lot of Prizes to be won by schools and students.
* Each student is eligible to receive award under one category only.i.e. one student receives only one award
Schools can win awards under the following two categories:
Highest participation: Top-25 schools based on highest participation (from which the maximum number of students appeared for the test) will receive cash reward of Rs.25,000/- each and a trophy/shield .
Highest Success (Highest Level of Financial Literacy among its students): Schools having the highest proportion of students in top-50 percentile will receive awards in this category. Top-5 schools in this category will receive a cash reward of Rs.25,000/- each and a trophy/shield.
(For a school to be eligible for the award in this category, at least 50 of its students must have appeared for the test).
Head/Principal of the award-winning schools will be felicitated at the Grand Ceremony.19. Who are the sponsors of NCFE-NFLAT?
Answer: The test is supported by all the financial services regulators in India: Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority (IRDA), Pension Fund Regulatory and Development Authority (PFRDA) and Forward Markets Commission (FMC).20. Will it not affect my studies?
Answer: No. Firstly, the test covers topics that are mostly already a part of the school curriculum. Other than that, it provides you a unique opportunity to imbibe an essential life skill- Money management that will help you not only today but also in the future to make sound financial decisions.