International Finance Olympiad is an international level competition initiative to make school students familiar with the finance knowledge. It is an attempt to bridge the gap of limited finance knowledge for school students. What is International Finance Olympiad? What is Exam Pattern of International Finance Olympiad? Excerpt of Questions in Finance Olympiad, Experience of the Winners, Winners of Finance Olympiad etc.
International Finance Olympiad
The International Finance Olympiad is an initiative jointly taken by International Institute of Financial Markets(IIFM) and the Economic Times. This is different from BSE International Finance Olympiad (BIFO) which tests and promotes financial literacy among students of Class IX to Class XII.
- The International Finance Olympiad is for school students studying in class 8 to 12.
- It is held in schools across India & Middle East.
- They provide well-researched study material. Study Material Comprises a set of 3 Books which present information in an interesting format with Glossary, crosswords, activities etc. Excerpt of which is given here.
- Beginners Module for Class 8th
- Intermediate Module for Class 9th & 10th
- Advance Module for Class 11th & 12th
- Sample chapter
Exam Pattern of International Finance Olympiad
The Exam pattern is as follows:
- All registered students give 40 minutes written Multiple Choice Question (MCQ) at school premises. Sample Question Paper
- For qualified students, the regional round will be conducted at 10 different locations in Nov / Dec 2018. The Exam pattern is written Multiple Choice Question (MCQ) and audio-visual question answer round.
- The final round is an on-stage oral quiz, between 10 Jan to 10 Feb,
- in which winning teams from different regions will compete at international level at New Delhi
- To win a Winner Trophy and scholarship of 1 Lac. Other cash prizes are 40,000 and 20,000.
- Each team in the final round will have 4 members (2 students from class- 8/9/10 and 2 students from class- 11/12).
How to apply for International Finance Olympiad
An applicant had to apply for the Olympiad through his/her respective school or individually between 1 May 2018 to 30 August 2018:
The school has to pay the registration fee of INR 850 per student for all the students applying in the form of a cheque or DD in favour of “International Institute of Financial Markets Ltd.”
The student who wanted to register had to pay the registration fee of INR 1000 at their website www.financeolympiad.in
It enables students to Access Study Material, Take Quiz & Check Progress and Ask Questions
Questions in School Round for Finance Olympiad 2018-19 Class 9th-Class 10th
1. Since which year has the United States of America started being considered as the largest economy in the world? a) 1890 b) 1870 1871 d) 1880
2. Which of these industries is the key industry of France? a) Automobile industry b) Chemical industry c) Electronics goods industry d) Oil and petroleum industry
3. What can be the possible reasons for a stock market to lose value suddenly? a) A big company going bankrupt b) Global recession c) Terrorist attack d)All of these
4. Which one of these banks provides credit to the farmer at cheaper rates? a) Land Mortgage Bank b) Merchant Bank industry c) Cooperative Bank d) Industrial Bank
5. Which of these are the main features of a Developed Economy? a) Higher Standard of living b) Higher per capita income c)Both Higher standard of living and higher per capita income d) None of the above
6. While providing which of the following loans do the banks mandatorily ask for a collateral or security? varSecured Loans b) Unsecured Loans c) Personal Loans d) Consumer Durable Loans
7. The mission of the International Association of Insurance Supervisors is particularly to: a) To promote high standards of regulation for the sake of orderly and efficient markets b) To enhance understanding of key supervisory issues and improve the quality of banking supervision worldwide c) To promote effective and globally consistent supervision of the insurance d) To promote a coordinated program of reforms to deliver resilient sources of market based finance
8. Which one of the following types of cards can qualify as a loan? a) Debit card b) Credit Card c) Master Card d) Visa Card
9. Which alternative did Rohit suggest Shikhar in case he wanted to earn money in exchange of lower risks? a) Loans b)Bonds c) Debentures d) Mutual Funds
International Finance Olympiad 2016-17 Final Round
From Economics Times
Mr Mohan has a credit card debt of Rs 20,000 and he wants to go on a holiday. What should he do first?
- Pay off his debt
- Save for his holiday
- Take another loan for his holiday
- Cancel the holiday plan
- The questions ranged from who did the first demonetisation in India (Shah Jahan) to the currency of Denmark (Danish krone).
- There was a question on the traditional halwa ceremony before the presentation of the Union budget.
- On fictional billionaires such as Tony Stark (Iron Man), Uncle Scrooge (Donald Duck’s uncle), Bruce Wayne (Batman) and Richie Rich.
- Students were shown clips of films such as ‘Wolf of Wall Street’ and asked to identify what was taking place on the screen. “It was trading of penny stocks”.
- Which company was featured in the novel Shoebag (Nike)
- The crucial question in the final buzzer round was: which bank is located on Diagon Alley. Diagon Alley is where the wizard people’s bank, Gringotts, is located, in the Harry Potter books.
- There were also questions that tested their understanding of financial concepts and awareness of current affairs and general knowledge
Experience of the Winners
In 2016-17 Four students, from the National Academy For Learning (NAFL) in Bengaluru, won the Rs 1 lakh prize for winning the NFO for 2016-17. “I had no idea about economics or finance. I just participated in the finance Olympiad as I do in all other competitions,” Samyukta confessed. Shivani said: “Even the thought of finances and economics was daunting.”
“When non-Japanese companies issue bonds in Japan in the yen, they are samurai bonds. Panda is the exact same thing in China.” Samyukta Kamath, 13, pipes in: “There is also the Dim Sum bond. It is the reverse of the Panda, where companies issue bonds in Chinese renminbi outside of China.”
After the event, these 8th standard kids casually talk of different kinds of cheques, deposits and banking instruments, mention names of top finance-related books, their authors and why they are famous, name CEOs of multinational companies without batting an eyelid and speak with familiarity about Raghuram Rajan and Urjit Patel (former and current RBI governors).
“It’s so cool to talk about all this with our classmates,” Samyukta said.
The grind that the students went through to prepare for the event had them study the differences between fiscal and revenue deficit, recognise company symbols from stock exchanges around the world, learn financial landmarks such as the first country to make coins (Babylon). They divided up the topics among themselves “as there was no other way we could have covered everything otherwise,” they chorused. The USP of the team, however, turned out to be their knowledge of fiction as they answered the buzzer question
Winners of Finance Olympiad
National Finance Olympiad 2017-18
The year-long campaign culminated with a Grand Quiz conducted at India Islamic Culture Centre, Delhi on 8th February 2018. The quiz was conducted and conceptualized by quizmaster Mr Pranav Chaturvedi. The day saw 6 school teams from various regions across India fighting it out for the coveted 1.60 lac cash scholarship. The teams that made it to the finals were:
1. The Emerald’s Heights International School, Indore (WINNER)
2. Delhi Public School, Bangalore East (1st Runner-up)
3. Lilavatibai Podar Senior Secondary School – ISC, Mumbai (2nd Runner-up)
4. Welham Boys School, Dehradun
5. Delhi Public School, R K Puram, Delhi
6. National Public School, Indiranagar, Hyderabad
The coveted prize of ‘Finance Gurukul’ was won by Wynberg Allen School, Mussoorie.
National Finance Olympiad 2016-17
National Academy For Learning(NAFL), Bangalore was the Winner. Four of the dazzling NAFLers, Rakshashri, Siddarth Vinay, Shivani and Sanyukta, stole the show in Delhi on February 2nd, 2017 at the International Finance Olympiad.
National Finance Olympiad 2015-16
National Finance Olympiad’s year-long campaign culminated with a Grand Quiz conducted at Manav Rachna International University, Faridabad, New Delhi on 16 January 2016. There were 6 rounds of intense quizzing. The quiz was conducted and conceptualized by quizmaster Pranav Chaturvedi Ref: National Finance Olympiad Brochure
- National Academy For Learning, Bangalore – Winner: Shruthi Raghunandan (Grade 8), Sai Premnath (Grade 9), Aishwarya Ramanath (Grade 11) and Sunny Roshan (Grade 11)
- Wynberg-Allen School, Mussoorie – 1 Runner Up
- Mt. Abu Public School, Rohini -2 Runner-up
- St. Kabir Public School, Chandigarh
- Jamnabai Narsee School, Mumbai
- Fahaheel Al-Watanieh Indian Private School (DPS Kuwait)
The coveted prize of ‘Finance Gurukul’ was won by Meridian School for Boys and Girls, Hyderabad for motivating maximum students to participate in the National Finance Olympiad.
National Finance Olympiad 2013-14
The annual Financial Education Program – National Finance Olympiad culminated on 22nd Feb’14 with a nine-round Grand Quiz conducted and conceptualized by quizmaster Pranav Chaturvedi, at India Islamic Cultural Centre, New Delhi. The day was termed as the Million Financial Smiles Day where 6 teams from various schools across India were fighting out for the coveted 1 lakh cash scholarship. Ref: National Finance Olympiad Brochure
The teams that made it to the finals were:
- Ryan International School, Chandigarh – Winner
- Welham Boys School, Dehradun- 1 Runner Up
- Anandalaya School, Gujarat -2 Runner up
- Smt. Sulochanadevi Singhania School, Mumbai
- Modern School, Delhi
- Mt. Abu Public School, Delhi
The coveted prize of ‘Finance Gurukul’ was won by Ryan International School, Gurgaon for motivating maximum students to participate in the National Finance Olympiad
Excerpt of the Study Material of International Finance Olympiad
What do you think of the Finance Olympiad? Is such olympiad needed? How should children learn about the Finance? What should they learn in Finance?