South Africa recently placed last in the world for its level of financial literacy in a new international survey run by the OECD.
According to the survey, adults in many countries around the world display low levels of financial knowledge, fail to engage in financial behaviours that could improve their financial security, and have financial attitudes oriented towards the short-term.
On average, just 56% of adults across participating countries and economies achieved a score of at least 70% – which is considered to be the minimum target score.
South Africa was at the bottom of the list, scoring around 30%.
The official survey is split into three main categories – financial knowledge (which carries the seven questions), financial behaviour, and financial attitude – bringing the survey total to a score out of 21.
For the purposes of the quiz below, the latter two sections of the OECD survey have been simplified to better suit the quiz format, and the bonus question has been included to give a total out of 15.