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Financial Literacy Test

The Financial Literacy Test is a way for students enrolled in FIN 1521 to test out of the course. To test out of the course, students must take the exam during the first five days of the class. Students should stay enrolled in FIN 1521 until completing the challenge exam. If a student receives a passing score of 70% or better, it is their responsibility to drop the FIN 1521 course by the fifth day to receive a full refund. Students are only eligible to take the exam once. 

Students who plan to complete the challenge exam should contact the UAFS Financial Aid Department to discuss how the credit will affect financial aid and the Arkansas Challenge Scholarship. Credit earned is posted as CR credit and does not count towards a student's GPA.


How to Register

  1. Complete the top portion of the form. The form is also located in the Personal Finance Challengers Blackboard Organization.
  2. If receiving federal financial aid (Pell, loans, etc.) and/or scholarships, email Financial Aid at to determine whether taking the Financial Literacy Test will have any effect on aid and/or scholarships.
  3. Email Dr. Latisha Settlage, the Dean of the College of Business and Industry, at to be added to the Personal Finance Challengers Blackboard Organization.
  4. Upload the form to the Blackboard Organization site.
  5. Pay the Challenge Exam fee of $20 per credit hour here. The Financial Literacy Challenge Exam is only one credit hour. The payment link is also located in the Personal Finance Challengers Blackboard Organization.
  6. Complete the exam in Blackboard as instructed. Students will see their score immediately upon completing the exam.
  7. If the exam is passed, contact your academic advisor for instructions on dropping FIN 1521 before the deadline (the fifth day of class) to receive a full refund.