According to the survey, Germany ranks second after Austria in terms of financial and risk literacy. Around 63 percent of German respondents answered all basic financial literacy questions correctly. As for risk questions, 19 percent of German and Austrian respondents got the answers right - the highest result.

It is disturbing that only one person in five in Germany was able to answer all the risk questions correctly. This was reflected in the three scenarios where only 13 percent were able to match the correct solution to a financial challenge. More than 17 percent were unable to even correctly answer one of the scenarios.

Allianz conducted the survey in November 2016, interviewing 1,000 people each in Austria, Belgium, France, Germany, Italy, the Netherlands, Portugal, Spain, Switzerland and the United Kingdom.

Allianz SE published this content on 27 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 January 2017 10:24:01 UTC.

Original documenthttps://www.allianz.com/en/press/news/studies/170127_are-you-financially-literate/

Public permalinkhttp://www.publicnow.com/view/155265F31DAE348721B4BC620419AA72CAB07BF6