Scotch College

Scotch boys show their financial literacy prowess

When it comes to financial literacy, Scotch Year 9 and 10 students have proved they’ve got what it takes, at the recent Australian Financial Literacy Assessment.

Competing against more than 50,000 students from around Australia in this competition – which tests students’ understanding of the financial world – Scotch Year 10 students John Biun, Francis Chan and Minh Quan Nguyen won three out of the 32 medals awarded.

The assessment is a nationwide examination of students in Years 9 and 10. Through a series of case studies and scenarios, it tests students’ understanding of the financial world, covering issues such as managing income and finances, consumer rights, and economics and investment.

Scotch also proved that it has depth in financial literacy. In addition to the medallists, another 21 Scotch Year 9 and 10 students achieved scores that put them in the top 1% of the state.

Eighty-three out of the 186 Scotch students completing the test were in the top 11%. This means that (as well as the 24 boys mentioned above) another 59 were in the next 10% of the state. Further, the next 55 students were in the next 20%, so 138 out of 186 (or about 75%) of our students were in the top 31% in the state. Congratulations to all these Scotch boys on their achievements.

John Murphy
Acting Head of Commerce