The comprehensive written survey of nearly 6,000 high school students in 37 states measured 12th graders' level of knowledge of personal finance basics and compared the results with those from similar surveys conducted in 2004, 2002, 2000 and 1997.

The average score for the recent survey was 52.4 percent, up marginally from 52.3 percent in 2004, but falling from the 57.3 percent in 1997.

The questionnaire, with answers, is available at
http://www.jumpstart.org/media/2006SurveyWithAnswers.doc

The students taking the Jump$tart survey demonstrated an increased aptitude and ability to manage financial resources such as credit cards, insurance, retirement funds and savings accounts at a level slightly higher than in 2004.

In contrast, a number of important concepts are not well understood by the next generation. Only 22.7 percent understand that interest on savings accounts may be taxable if one's income is high enough. Only 40.3 percent realize that they could lose their health insurance if their parents become unemployed.

The survey shows that only 16.7 percent of surveyed students have taken an entire course in money management or personal finance. That number is down from a high of 20.1. percent in 2004. Unfortunately, the mean financial literacy score for students who had taken such a course was 51.6 percent, slightly below the average for all students.

Some previous Jump$tart surveys have shown this figure to be slightly above the national average and some slightly below, but it is clear that students don't appear to be learning or retaining those things that are needed for making important financial decisions in their own interest.

The Jump$tart survey, conducted primarily this past December and January, consisted of a written examination administered in 305 schools across the United States.