Personal Financial Literacy Certification Examination

Test Administration

Test Site:

• School: Online

Paper & Pencil

No

Can the instructor take this test?:

Yes

Number of Test Items:

The certification exam consists of 100 questions from a test bank of 200. The question bank and order is randomized for each certification exam. Exams are administered online and have several question types, including multiple-choice, matching, labeling, fill-in-the-blanks and other question types.

Time Allowed (minutes):

There is no time limit; however, the system will time out after one hour of inactivity.

Passing Score (percent):

70%

Cost Per Test:

A certification voucher is needed to take the certification exam. Retaking the exam requires an additional voucher. There are two options for purchasing vouchers: Option A: iCEV subscribers, $40 per voucher; Option B: non-iCEV subscribers, $50 per voucher.

Test Specifics:

https://www.icevonline.com/personalfinance

Additional information:

• The industry standards the certification tests for, which were developed by the Center for Financial Responsibility, include:
  
  
  
  • Budgets (20%)
  
  
  • Investments & Risk Management (15%)
  
  
  • Loans (20%)
  
  
  • Banking Options & Records (10%)
  
  
  • Taxes & Paychecks (20%)
  
  
  • Major Purchasing Decisions (15%)
  
  
  
  


• The Center for Financial Responsibility uses iCEV as its certification testing platform. As the testing platform, iCEV is responsible for the following:
  
  
  
  • Providing secure testing technology for exams Regulating the testing environment
  
  
  • Working with secondary and postsecondary academic institutions, workforce development associations and the public-at-large to offer certification options for career advancement
  
  
  • Providing certification verification to employers for potential job applicants
  
  
  • Offering optional certification exam preparation materials
  
  
  
  


• The certification exam must be administered in a proctored environment. It is the responsibility of the proctor to ensure all certification candidates follow the certification exam rules and guidelines (https://www.icevonline.com/proctoring-guidelines). If a candidate requests to retake a certification exam, it is left to the discretion of educational personnel to decide if and when a candidate can retake an exam.