Analysis and Development of a Skills Assessment Test of Financial and Investment Literacy in Digital Era for Undergrade Students in Private University

Abstract

This research aims to analyze and develop the skills assessment test of the financial and investment literacy on bachelor degree student in private university, The research sample consisted of 150 students which had enrolled to the investment literacy in digital era subject. The instrument employed in this research as a multiple-choice assessment test which was divided into 5 parts: 1) saving, 2) Debenture, 3) Mutual funds, 4) stock market and 5) insurance. In each part had 10 questions. The research instrument was validated with Index of Item Objective Congruence: IOC by experts. Data was analyzed based on two approaches. Firstly, the difficulty Index approach could an indicated the difficultly level in each question, while the Kuder-Richardson's (KR-20) approach had adopted to define the confidence of skills assessment test. As the result, the quality assessment of testing consistency index had a high score as 0.94, while the difficulty level assessment also distributed in range between 0.17 to 0.93. Finally, the confidence level of the skills assessment test accounted for 0.7.