According to the study around one in seven students are unable to make even simple decisions about everyday spending, and only one in ten can solve complex financial tasks.
Shanghai-China tops thesurvey having the highest average score in financial literacy. The next strongest performances were from the Flemish Community of Belgium, Estonia, Australia, New Zealand, the Czech Republic and Poland.
The gender gap in financial literacy was much smaller than in OECD PISA tests in math and reading, with there being no significant difference between the performance of boys and girls.
The survey also revealed that skills in mathematics and Reading are very closely related to financial literacy.
Try sample questions at www.oecd.org/pisa/test
Download Students and Money: Financial Literacy Skills for the 21st Century results here.