See other releases of corporate mass media
Literate calculation
The event’s jury included Alena Obolenskaya, director of the Regional Center for Financial Literacy, Irina Aristova, an expert at the RF Central Bank Main Branch, Prof. Larisa Yuzvovich, head of the USUE Department of Finance, Money Circulation, and Credit, and Maxim Maramygin, director of the USUE Institute of Strategic Planning and Financial Analysis.
“The emergence of a huge number of new financial services these days, unfortunately, results in an ever-increasing number of fraudulent schemes,” Irina Aristova told the audience. “Furthermore, these schemes are becoming increasingly elaborate and sophisticated. Therefore, it’s crucial that you can easily recognize fraudsters, anticipate, and mitigate their illegal actions. That’s exactly what we’ll explore today.”
“I constantly advocate that the basic competencies that every person should have include not only the ability to count, write, and read but also sound financial behavior,” Maxim Maramygin, Doctor of Economics, added.
Twenty-five seniors gathered in a USUE auditorium to take a financial literacy test. The participants tested their knowledge of lending, financial services, and understanding of fraudulent scams.
The competition task comprised three sections: two multiple-choice question sections and a calculation section, where applicants had to calculate correctly the benefits of the proposed banking instruments. The maximum score was 54 points.
The highest score in the competition was 48, and the current champions are 63, 71, and 79 years old. Now, the winners will defend their knowledge at the federal level on October 23 at the Plekhanov Russian University of Economics in Moscow.
“The Sverdlovsk region hosted the championship for the first time, and we are delighted to welcome the competitors at our university. To organize the event, the USUE Career Center, within its partnership with the Plekhanov Russian University of Economics, also collaborated with the regional Organizational and Methodological Center for Social Assistance. We are grateful to our colleagues for their help in recruiting participants,” Elena Ovsyannikova, director of the Career Center, said.
“This is a significant event because today’s retirees have a certain amount of experience; they respond well and try to find the correct decision. This applies to those pensioners who come and test themselves,” concluded Larisa Yuzvovich, Doctor of Economics.
