Table 1.
Sorted Pattern Matrix (N=440)
| Item | F1 | F2 | F3 | F4 |
|---|---|---|---|---|
| How many nickels is a dollar worth? | .99 | −.20 | .08 | −.47 |
| How many quarters are in 6.35? | .99 | .16 | −.06 | −.18 |
| How many dimes are in 1.30? | .98 | .14 | −.00 | −.11 |
| How many nickels is a 5 worth | .88 | −.02 | .02 | −.12 |
| Have a dollar and want to buy something for 59 cents. How much change should you get back | .82 | .01 | .01 | −.15 |
| How many quarters is a 5 worth | .73 | .11 | −.00 | .10 |
| If you were to invest 10,000 in the bank account, how much money would your investment earn in a year | .62 | −.06 | −.07 | .10 |
| Please calculate a tip based on this bill. Show me how much money you would leave | .62 | 02 | .04 | −.03 |
| Have a five. Total is 3.19. How much change should you get back | .62 | −.06 | .00 | .12 |
| Which bank has the best interest rate | .56 | −.01 | −.09 | .13 |
| How much of your bill will your insurance pay | .56 | −.09 | .05 | .19 |
| If you were to invest 20,000 in the computer stock, how much money would your investment earn in a year | .52 | −.08 | −.07 | .25 |
| How much will his taxes be with the credit | .52 | .14 | −.18 | .35 |
| What is the interest rate for this account | .47 | .02 | .08 | .28 |
| How much will your friends taxes be this year | .47 | .07 | .02 | .27 |
| Need change for a dollar to buy a 55 cent soda. How would you like change for your dollar | .47 | .00 | .23 | .30 |
| What is a bank statement used for | .44 | −.13 | −.11 | .18 |
| Hand the examinee a bill. What goods or services are you being billed for here | .42 | .08 | −.20 | .35 |
| Arrange money by value. | .42 | −.06 | −.11 | .17 |
| Point to the interest rate. What does an interest rate of 1.49% mean | .42 | .05 | −.13 | .09 |
| Point to the checks cleared section. What does this section mean | .40 | −.14 | −.15 | .01 |
| How much is a dollar, two quarters, a nickel, and two pennies worth | .40 | .02 | .23 | .07 |
| Put bill in front of examinee. Why would you need to pay this bill first* | .39 | .13 | .00 | .10 |
| What is a budget* | .39 | −.20 | −.13 | .03 |
| Point to the column designated for the check amount on the register. What is this part for* | .38 | .08 | .01 | .19 |
| Of your 20,000 inheritance, how many dollars would you invest in the bank and how many in the stock* | .37 | −.07 | −.02 | .28 |
| Generally, when dining in a restaurant, are you required to leave a tip for the waiter or waitress* | .35 | −.13 | −.01 | −.09 |
| Show me where on the bank statement you would look to see if your account was overdrawn* | .34 | .09 | .08 | .18 |
| Point to box on check for numeric amount. What is this part for* | .34 | .08 | −.13 | .28 |
| What is your friends taxable income this year* | .33 | .04 | −.14 | .33 |
| Would you send the 2000 | −.18 | −.99 | .09 | −.05 |
| You received an investment offer in the mail today. Is this a good investment opportunity | −.23 | −.99 | .03 | .05 |
| Would you send your information, as requested | .09 | −.98 | .02 | −.24 |
| Why or why not is this a good/bad investment opportunity | .11 | −.87 | −.07 | −.03 |
| Will you give me your credit card number to help clothe underprivileged children | −.02 | −.57 | −.01 | −.01 |
| What are two reasons for keeping your money in a bank | .11 | −.16 | −.58 | −.21 |
| What is the conventional percentage amount to tip for good service in a restaurant | .40 | −.15 | −.46 | .17 |
| Point to the signature line. What is this part for | −.04 | .10 | −.44 | .24 |
| What is a debt | .24 | −.05 | −.40 | .01 |
| What are income taxes | .16 | −.14 | −.40 | .24 |
| Make out a check. Payee field | −.31 | −.05 | .12 | .99 |
| Make out a check. Signature | −.38 | −.11 | .01 | .97 |
| What are the potential risks of giving your credit card number | −.26 | −.12 | −.08 | .85 |
| Make out a check. Description of transaction in register | .06 | .15 | .16 | .79 |
| What is the ending balance on the bank statement | −.03 | .10 | .09 | .76 |
| Make out a check. Date | .03 | .14 | .11 | .76 |
| Make out a check. Numeric amount of check | .02 | .01 | .20 | .72 |
| Make out a check. Correct date in register | .17 | .08 | .09 | .71 |
| In the story, what are the two investment choices available for using this money | −.05 | .13 | −.22 | .69 |
| Make out a check. Written amount of check | .17 | .07 | .14 | .69 |
| What was the amount of quarterly interest earned on this account | .05 | −.01 | .13 | .68 |
| Here is another check. Using this check, please identify an error appearing on your statement | .26 | −.01 | .08 | .68 |
| What total number of checks cleared during this period | .13 | .04 | .36 | .68 |
| What is the time period for this bank statement | .12 | .19 | −.13 | .68 |
| How many gaps in the check sequence occurred during this statement | .28 | −.06 | .29 | .61 |
| Make out a check. Number of check in register | .30 | .07 | .12 | .57 |
| Make out a check. Amount of check in register | .45 | .11 | .03 | .55 |
| What is sales tax | .13 | −.08 | −.17 | .54 |
| Make out a check. New account balance in register | .42 | −.01 | .06 | .53 |
| Your change should be 1.81. Have I given you the correct change | .10 | −.10 | .04 | .52 |
| Point to the check register. What is this part of the checkbook used for | .21 | .04 | .15 | .51 |
| Please review this cleared check. Indicate where on the bank statement this check appears or is referenced | .27 | −.07 | .33 | .51 |
| How much of your bill will your insurance pay | .27 | .06 | −.18 | .48 |
| Point to ATM withdrawal. What does ATM withdrawal mean | −.00 | −.19 | −.08 | .46 |
| What was the date of the withdrawal payment to Alabama Gas | .30 | .16 | −.02 | .45 |
| What are some reasons for paying your bills | .14 | −.02 | −.23 | .45 |
| Point to bank statement. What is this called | .28 | −.04 | −.06 | .43 |
| What is a bill | .18 | .03 | −.13 | .41 |
| What is a loan | −.04 | −.14 | −.08 | .40 |
| In the story, what is the main disadvantage of the stock investment* | −.03 | .04 | −.12 | .39 |
| Present the check register. What is this part of the checkbook called* | .08 | −.01 | .07 | .39 |
| Point to the deposits section. What does this section mean* | .10 | −.02 | −.05 | .37 |
| Point to minimum balance. What does minimum balance mean* | .31 | −.00 | −.05 | .37 |
| Point to the account fee. What does monthly account fee mean* | .19 | .08 | −.29 | .35 |
| What are the reasons you invested the way you did* | .22 | −.07 | −.03 | .33 |
| What are savings* | .08 | −.09 | −.09 | .31 |
| Point to payee line on the check. What is this part for* | .13 | −.08 | −.01 | .31 |
| Why or why not* | .00 | −.03 | −.17 | .29 |
| Point to the column designated for the current balance on the register* What is this part for/What goes here* | .06 | .12 | −.22 | .29 |
| Point to written amount line on the check. What is this part for* | .21 | .03 | −.19 | .27 |
| Please calculate a tip based on this bill. Show me how much money you would leave* | .17 | −.03 | −.03 | .24 |
| Hand the stack of bills to the examinee. Which of these bills, if any, requires immediate attention* | .15 | .10 | −.06 | .24 |
| How much is a five, three dollars, a quarter, two dimes, a nickel, and four pennies worth* | .14 | −.18 | .15 | .23 |
Note.
*
=Item that did not meet .40 threshold on any factor. Factor 1= Basic Monetary Knowledge and Calculation Skills, Factor 2 = Financial Judgment, Factor 3 = Financial Conceptual Knowledge, and Factor 4 = Financial Procedural Knowledge.