The financial literacy assessment among students majoring in the field of finance
AMA 10th edition
In-text citation: (1), (2), (3), etc.
Reference: Belousova TA, Gryzenkova YV, Kirillova NV, Vasyakin BS, Pozharskaya EL. The financial literacy assessment among students majoring in the field of finance. Eurasia J Biosci. 2019;13(1), 141-148.

APA 6th edition
In-text citation: (Belousova et al., 2019)
Reference: Belousova, T. A., Gryzenkova, Y. V., Kirillova, N. V., Vasyakin, B. S., & Pozharskaya, E. L. (2019). The financial literacy assessment among students majoring in the field of finance. Eurasian Journal of Biosciences, 13(1), 141-148.

Chicago
In-text citation: (Belousova et al., 2019)
Reference: Belousova, Tamara A., Yuliya V. Gryzenkova, Nadezhda V. Kirillova, Bogdan S. Vasyakin, and Elena L. Pozharskaya. "The financial literacy assessment among students majoring in the field of finance". Eurasian Journal of Biosciences 2019 13 no. 1 (2019): 141-148.

Harvard
In-text citation: (Belousova et al., 2019)
Reference: Belousova, T. A., Gryzenkova, Y. V., Kirillova, N. V., Vasyakin, B. S., and Pozharskaya, E. L. (2019). The financial literacy assessment among students majoring in the field of finance. Eurasian Journal of Biosciences, 13(1), pp. 141-148.

MLA
In-text citation: (Belousova et al., 2019)
Reference: Belousova, Tamara A. et al. "The financial literacy assessment among students majoring in the field of finance". Eurasian Journal of Biosciences, vol. 13, no. 1, 2019, pp. 141-148.

Vancouver
In-text citation: (1), (2), (3), etc.
Reference: Belousova TA, Gryzenkova YV, Kirillova NV, Vasyakin BS, Pozharskaya EL. The financial literacy assessment among students majoring in the field of finance. Eurasia J Biosci. 2019;13(1):141-8.

Abstract

The importance of the study is determined by the need of expanding requirements for financial literacy in regard to continuing changes and development of the financial landscape, and the increasing digitalization in economy and finances, as well as considering the EU Directive 2016/97 which regulates the level of financial competence for insurance companies employees engaged in the preparation and distribution of insurance products, as it may affect the recognition of Russian insurance market professional qualifications from abroad. On the other hand, besides the importance of consumer spending on insurance, there are too few tests among the financial literacy control and measurement tools for assessing the insurance risk and guidelines for personal insurance portfolio management. In this regard, the article aims to determine the level of financial literacy among students majoring in the field of finance and to analyze the factors contributing to its improvement. On the theoretical level, the study explores the principles of systematic education to form financial knowledge and competence. The empirical study reveals interests of students as future consumers of insurance services making their choice of insurance products on the base of their functional financial literacy. Principal methods for the study of the problem are: the theory of systems, the concept of feedback, a method of comparative analysis, and also works of Russian teachers and methodologists in the field of systematic management in education, which allows reasoning the continuous and consistent character of financial knowledge and competence. The article presents the results of theoretical analysis concerning the development of functional financial literacy among students who major in finance. It identifies the main gaps in their knowledge and competence in the field of insurance, and special features of students` interests as future consumers of insurance services. The article gives reasons for making changes in the bachelor’s training program related to insurance, as well as in the methodological guidelines for the educational process. The materials of the study are of practical value for educational institutions of higher financial education and for the executives of Russian insurance companies.

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