Shanghai students ranked the highest in a financial literacy assessment sponsored by Program for International Student Assessment (PISA). Of course, this figure represents just a single city in China, not the entire country itself. Still, the city’s school system is ranked the best in the world by the PISA.

US students scored below the average of the 13 OECD countries assessed and ranked 11 out of 18 among all countries and cities that participated, just behind Russia and above Spain. You can take a mock exam PISA here.

With more is Laura Shin of Forbes:

American Students Score Below Average In Financial Literacy

Where will you find the most financially literate 15-year-olds in the world? Not Wall Street, nor Silicon Valley, despite all its tech wunderkinds.

Try Shanghai, China.

There, students scored 603 points on an assessment run by the Programme for International Student Assessment (PISA) by the Organization for Economic Cooperation and Development (OECD). The average was 500, and the United States’ mean was 492. That put it slightly below the average of the the 13 OECD countries and economies assessed; among all 18 countries and economies included, the U.S. ranked between 8 and 12. The other countries and economies whose students, in addition to Shanghai’s, scored above the OECD average were Australia, the Flemish Community of Belgium, the Czech Republic, Estonia, New Zealand and Poland.

The U.S. also ranked below average in the percentage of students who reached a baseline level of financial literacy — almost 18% of American students couldn’t perform basic financial literacy tasks, compared with 15.3% of OECD countries. Baseline financial literacy is being able to recognize the difference between needs and wants, make simple decisions on everyday spending and recognize the purpose of everyday financial documents such as an invoice.