Financial Competence Assessment Inventory

The FCAI is a psychological test that:
 

• Is by far the most comprehensive, reliable, and valid norm-referenced assessment of financial competence available in Australia
   

• Can be used to distinguish between people who are financially competent and those who are not (i.e., people with a legally appointed administrator)
   

• Is able to determine strengths and weaknesses within six different components of financial competence

 

• Can be used to evaluate the main processes involved in financial competence, 'understanding,' 'appreciation,' 'reasoning,' and 'expressing a choice'

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• Is suitable for people with and people without a cognitive impairment
   

• Was developed in consultation with psychologists, psychiatrists, doctors, lawyers, financial administrators, financial counsellors, social workers, and accountants

 

 

 Authors: Mavis M. Kershaw PhD & Lynne S. Webber PhD