▎Financial Literacy Pre-Assessment Questions
▎Understanding Financial Literacy
1. How would you explain financial literacy? What do you think you have to know
to be financially literate?
Financial literacy is the ability to understand and effectively use various financial skills,
including personal finance management, budgeting, investing, and understanding credit. To be
financially literate, one should know how to create a budget, manage debts, save for
emergencies, invest wisely, and understand financial products and services.
▎Basic Financial Concepts
1. What do you think is the purpose of a budget?
The purpose of a budget is to track income and expenses, allowing individuals to allocate their
resources effectively, avoid overspending, save for future goals, and ensure that they can meet
their financial obligations.
2. Can you explain the difference between needs and wants?
Needs are essential items required for basic survival and functioning, such as food, shelter, and
clothing. Wants are non-essential items that enhance quality of life but are not necessary for
survival, such as luxury items or entertainment.
3. Do you currently have a savings account? If so, how do you use it?
Yes, I have a savings account that I use to set aside money for emergencies and future
purchases.
4. How would you define interest rates?
Interest rates are the percentage at which interest is charged or paid on borrowed money or
earned on savings over a specific period. They determine how much extra money will be paid
back on loans or how much money will be earned on deposits.
▎Budgeting Skills
1. Have you ever created a personal budget? If yes, what tools or methods did you
use?
No, I have never created personal budget.
2. What categories do you think are important to include in a budget?
I think the important categories in a budget may include housing, utilities, groceries,
transportation, savings, entertainment, insurance, and debt repayment.
▎Financial Goals
1. What are some short-term and long-term financial goals you have?
Short-term goals may include saving for a vacation or paying off a credit card. Long-term goals
could involve saving for retirement or purchasing a home.
2. How do you plan to achieve those goals?
I plan to achieve my goals by creating a savings plan, setting aside a specific amount each
month, and reducing discretionary spending
▎Entrepreneurship Questions
1. What is entrepreneurship? What makes a new entrepreneur/businesses
successful?
Entrepreneurship is the process of starting and managing a new business venture in order to
make a profit. Successful entrepreneurs often possess qualities such as innovation, resilience,
strong leadership skills, and the ability to adapt to changing market conditions.
2. Name a few basic business skills you know. How do you acquire those skills?
Basic business skills include financial management, marketing, sales strategies, and customer
service. These skills can be acquired through formal education, online courses, workshops, and
hands-on experience in business settings.
3. What basic business skills would you like to learn and develop?
Personal response would vary; an example could be: I would like to learn more about digital
marketing and financial analysis.
▎Job Readiness Pre-Assessment Questions
▎Workplace Skills
1. What soft skills do you think are important in the workplace (e.g., communication,
teamwork)?
Important soft skills include effective communication, teamwork, problem-solving abilities,
adaptability, time management, and emotional intelligence. And they help us to work together
effectively.
2. Can you name any of the soft skills you possess that would be valuable to employers?
Personal response would vary; an example could be: I possess strong communication skills and
am an effective team player.
▎Networking
1. Why is networking important? How can you utilize social media for networking?
Networking is important because it helps to build professional relationships that can lead to job
opportunities, mentorships, and collaborations. Social media can be utilized by joining
professional groups, engaging with industry leaders, and sharing relevant content to showcase
expertise.
▎Job Search Strategies
1. Have you ever written a resume? If yes, what information did you include?
Personal response would vary; an example could be: Yes, I included my contact information,
education background, work experience, skills, and references.
2. What elements make your CV as a fresh graduate stand out?
Elements that make a CV stand out include relevant internships or volunteer experiences,
academic achievements, specific skills related to the job applied for, and any certifications
obtained.
3. What are the benefits of volunteering and internships?
Benefits include gaining practical experience, developing new skills, networking opportunities,
enhancing employability, and demonstrating commitment to professional growth.
4. How do you prepare for your first interview?
I prepare by researching the company, practicing common interview questions, dressing
appropriately, and preparing questions to ask the interviewer.
5. What do you know about some office rules or work etiquette?
Office rules typically include punctuality, professionalism in communication and appearance,
respecting colleagues' privacy and workspace, and adhering to company policies.
▎Open-Ended Questions
1. What do you hope to gain from this training program?
Personal response would vary; an example could be: I hope to gain practical financial
management skills and improve my job readiness.
2. Are there any specific challenges you face related to financial literacy?
Personal response would vary; an example could be: I struggle with understanding investment
options.
3. What skills do you feel you need to improve to increase your employability?
Personal response would vary; an example could be: I need to improve my technical skills
related to data analysis.
4. What do you know about Ethiopian laws regarding sexual harassment in the work place?
I know that Ethiopian law prohibits sexual harassment and provides mechanisms for reporting
incidents. And there is an article about it on constitution.
5. What do you know about life skills and their importance?
Life skills are essential abilities that helps us to navigate daily challenges effectively. They
include critical thinking, decision-making, emotional regulation, and interpersonal skills that
contribute to personal and professional success.
