Nearly 1,500 Colorado students took part in the National Financial Capability Challenge, an initiative to broaden understanding of concepts like saving, budgeting and investing.
On a voluntary online exam, 355 scored in the top 20 percent and 15 students recorded perfect scores. More than 84,000 students from all 50 states participated in the challenge, which is is a joint effort of the U.S. Department of Education and the U.S. Department of the Treasury.
At Arapahoe High School in Littleton, 28 of business teacher Heather Greenwood’s 68 students who took the exam scored in the top 20 percent. Three made perfect scores: seniors John Bohenick, Catherine Cole and Ian Wyman.
Only 563 students nationwide had perfect scores.
Greenwood, who teaches a personal finance class at Arapahoe, figured the challenge would provide a helpful measure of how well her kids grasped basic financial concepts.
“I just think that with the economic situation in the last few years, it’s great the Treasury Department is trying to assess where the financial literacy of teenagers is, because it’s an essential skill as they go through life,” said Greenwood. “It’s also fun for the students because they get to see how they stand after taking our class.”
In Colorado, 36 schools and seven other entrants, including home schooled students and youth organizations, participated in the challenge.
The state’s average score was 68.13 percent. Idaho led the way at 80.82 percent. Florida and Virginia recorded the most perfect scores with 47 each.
