The Investor Education Fund has launched an interactive game to help Canadians assess their level of financial literacy.

“We have taken a key recommendation of the federal government’s Task Force on Financial Literacy — a self-assessment tool — to heart and evolved it considerably with the creation of this engaging interactive game,” says Tom Hamza, IEF president. “Self-assessment is an important first step to education, and it won’t happen unless we reach people with something that captures their interest and makes financial literacy appealing and relevant.”

While the Task Force recommended a self-assessment tool, IEF has not only done this but has gone above and beyond the objective by creating a game that provides direct interaction with Canadians about their knowledge of financial concepts through an interactive game. It appeals to their competitive nature and comes in a package that is fun and appealing.

The Cranial Cash Clash is an extensive online and mobile game released for Apple iOS, Google Android and available on www.GetSmarterAboutMoney.ca to help Canadians assess how much they really need to learn about money.

The fun and educational “stump-em” multiple-answer questions test players’ knowledge on a wide range of financial topics in such categories or “episodes” as Debt Drama, Quest to Invest, Scam Exam, Saving for School and Investment Shopping. The game features eight “episodes” that tackle financial topics like spending, saving, investing, debt, financial fraud, financial planning, Registered Retirement Savings Plans (RRSPs) and retirement planning. Players compete to score cranial points, which IEF believes will challenge Canadians to raise their scores – and improve their financial knowledge.

The game features provide help to money-challenged players, including “brain boosters”, which are helpful hints that offer the player a guiding hand when needed. It is designed to be fun, and players can also “clash” with their friends and family and see how they rank against them and the global community. A benefit of the game is that each answer is explained and many tips are offered.

The Cranial Cash Clash will be rolled out to coincide with RRSP and tax season, with specific promotions at several Ontario Hockey League games.