University students rewarded for their financial literacy in the MyMALAYSIA Financial Literacy Quiz Contest

KUALA LUMPUR, 23 September 2020 – Through the collaboration of Malaysia Literacy in Financial Education Association (MyLIFE), Max Capital Management (MCM), Money Compass Media, Celik Wang and uLearnMONEY, an online contest namely, the MyMALAYSIA Financial Literacy Quiz Contest was held this morning as part of MyMALAYSIA Week 2020.

The MyMALAYSIA Financial Literacy Quiz Contest, with the participation of university students from nine local institutions, challenged participants through a game of wit and intelligence to find the top two winners.

The participating universities were Universiti Malaya (UM), UiTM Puncak Alam, Universiti Teknologi Mara, Manipal International University, Universiti Sains Islam Malaysia (USIM), Infrastructure University Kuala Lumpur (IUKL), Universiti Teknologi Malaysia (Kuala Lumpur), Universiti Pendidikan Sultan Idris (UPSI), and Multimedia University Cyberjaya (MMU).

The contest was held online via the Zoom platform and was broadcasted on the official MyMALAYSIA Week 2020 website as well as Facebook page. The contest ran for a duration of 2 hours 20 minutes to test the financial literacy of participants through analytical and problem-solving skills. The quiz was divided into three stages where participants had to answer questions in multiple choice, fill-in-the blank, and open-ended formats.

The evaluation of participants was on the performance they exhibit in three stages. From Stage 1, only 10 high performers were selected from a total of 22 participants to proceed to Stage 2, then only five high performers were chosen to proceed to Stage 3 and battled it out to win the top two prizes.

The title of grand prize winner of the MyMALAYSIA Financial Literacy Quiz Contest was helmed by Ng Kok Wee from MMU who won a cash prize of RM2,000 and the first runner up winner was Nur Fathin Izzati binti Azman from IUKL who walked away with RM1,000.

None of the participants left empty-handed as all 21 participants were to receive a 1-year free Money Compass membership, 1-year sponsored MyLIFE membership, a free membership and full access to all three levels of the uLearnMONEY online financial literacy course, and a digital certificate of participation.

“MyLIFE’s initiative began when the current issues of our young and underprivileged people were noted to be struggling to cope with their finance woes. Social changes could only happen through understanding, compliance and knowledge,” said Amy Seok, Founding Chairman of MyLIFE.

“Though this is no simple task, the rewards of elevating the financial literacy of the younger generation will be especially gratifying. The MyMALAYSIA Financial Literacy Quiz Contest which will be done online is a new and exciting way to interact with university students and evaluate their level of financial literacy. Their performance can be the representation of the financial literacy of today’s younger generation and from there, we can gauge how to proceed to further elevate their financial literacy,” she added.

MyMALAYSIA Week 2020 which officially ran from 14 to 20 September coincided with this year’s 57^th Malaysia Day celebrations, connecting all Malaysians through a platform of financial literacy. The week-long event rode on the theme of “Spirit of My Malaysia, Financial Literacy for All” and was able to reach out to a total of over 40,000 online users.

The national-level event was organised with the aim to teach and raise the awareness and knowledge of all Malaysians on the importance of having good financial knowledge, regardless of their age, race, and background, whilst promoting a united community.

“In the spirit of a united community, this event helped raise a positive impact towards nation building as well as empower our Malaysian community in various ways. With MyMALAYSIA Week 2020, we hope that unity and financial values can be taught and fostered amongst all Malaysians,” said Amy Seok.

The full recording of the MyMALAYSIA Financial Literacy Quiz Contest can be viewed at https://bit.ly/347c5L5.