Financial literacy is an essential topic frequently tested in the Summarize Written Text section of the PTE exam. Understanding and effectively summarizing content about financial literacy, especially aimed at young adults, can significantly improve performance in this part of the test. In this article, we’ll provide sample questions, answer models, and essential vocabulary, helping you excel in this section of the PTE Exam.
Sample Summarize Written Text Task: Financial Literacy for Young Adults
Task Prompt
Financial literacy is a key skill that young adults need to develop to manage their finances responsibly. However, many argue that the educational system often leaves young people underprepared for real-world financial decisions, such as managing credit, saving for future goals, and understanding taxes. As a result, young adults frequently make financial mistakes, including accumulating debt and failing to save for retirement. Governments and educational institutions have acknowledged this gap, and some countries are integrating financial literacy classes into the school curriculum. Nonetheless, experts believe family influence and hands-on experience also play significant roles in an individual’s financial competence.
Write a one-sentence summary of the passage.
Answer Models
Band 90+ Response
The lack of financial literacy education leaves young adults unprepared for managing their finances, resulting in issues like debt accumulation, prompting governments and schools to implement financial literacy courses, although family and practical experiences are also crucial.
Analysis:
- Content: The response captures all key points, including education, financial mistakes, government actions, and the role of family.
- Form: One complete, clear sentence.
- Grammar: Flawless use of complex sentence structure.
- Vocabulary: Advanced terms like “accumulation” and “competence” are used accurately.
- Spelling: Correct.
Young adults attending financial literacy course in a classroom setting
Band 70-79 Response
Young adults face financial struggles such as debt due to insufficient education, leading governments to introduce financial literacy lessons, but family and personal experience are also important.
Analysis:
- Content: The main ideas are covered but in less detail compared to the 90+ response.
- Form: Meets the requirement of being a single sentence.
- Grammar: Clear and correct, but less sophisticated.
- Vocabulary: Basic but effective.
- Spelling: Correct.
Band 60-69 Response
Young adults often lack financial knowledge, which causes problems like debt, so governments are adding financial literacy to school teachings.
Analysis:
- Content: General ideas are present, but missing the nuances about family and practical experience.
- Form: Adequate.
- Grammar: Simple sentence structure; fewer clauses.
- Vocabulary: Somewhat limited.
- Spelling: Correct.
Band Below 60 Response
Young people do not learn how to manage money, and this causes debt.
Analysis:
- Content: Important details, such as government intervention and the role of schools, are missing.
- Form: Very short and lacks complexity.
- Grammar: Correct but overly simple.
- Vocabulary: Very basic.
- Spelling: Correct.
Vocabulary and Grammar Focus
Learning the following vocabulary and their usage can beyond just help with the task but with general comprehension in the PTE:
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Competence /ˈkɒmpɪtəns/ (noun): The ability to do something well.
- Example: Financial competence is critical for long-term wealth management.
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Accumulate /əˈkjuːmjʊleɪt/ (verb): To gather or acquire something over time.
- Example: Many young adults accumulate debt because of irresponsible spending habits.
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Literacy /ˈlɪt(ə)rəsi/ (noun): The ability to read and write, or understand a certain field.
- Example: Financial literacy helps individuals make informed monetary decisions.
Young adults struggling with credit card debt accumulation and payment difficulties
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Implementation /ˌɪmplɪmɛnˈteɪʃ(ə)n/ (noun): The process of putting something into action.
- Example: The implementation of financial education in schools could reduce future debt.
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Influence /ˈɪnfluəns/ (noun): The capacity to have an effect on the behavior of someone or something.
- Example: Family influence can significantly impact a young adult’s financial habits.
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Debt /dɛt/ (noun): Money owed by one party to another.
- Example: Managing debt properly is a crucial skill for young adults.
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Real-world /rɪəl wɜːld/ (adjective): Practical, involving actual situations rather than theoretical concepts.
- Example: Real-world financial skills are often overlooked in the educational system.
Young adults making real-world financial decisions and managing money
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Curriculum /kəˈrɪkjʊləm/ (noun): The subjects comprising a course of study in a school or college.
- Example: Financial literacy should be a mandatory part of the school curriculum.
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Retirement /rɪˈtʌɪəmənt/ (noun): The time when someone stops working because of age or other reasons.
- Example: Saving for retirement is a significant aspect of financial planning.
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Practical /ˈpraktɪk(ə)l/ (adjective): Concerned with actual use and practice rather than theory.
- Example: Hands-on experience provides practical financial skills young adults need.
Conclusion
Mastering financial literacy is a common theme in the PTE exam, especially in the Summarize Written Text task, where demonstrating both comprehension and summarization skills is critical. It’s important to regularly practice with a variety of topics, not only to familiarize yourself with typical tasks but also to expand your vocabulary and improve sentence structure.
Engage with similar topics concerning digital and financial literacy; for example, Digital literacy in an aging population offers related skill-building insights that may come in handy for your PTE preparation.
