Related Experiment Video
Updated: Oct 25, 2025
10:32
Development of a Virtual Reality Assessment of Everyday Living Skills
Published on: April 23, 2014
18.7K
Examining the Validity of the Financial Exploitation Vulnerability Scale
Peter A Lichtenberg1, Maggie Tocco1, Juno Moray2
1Institute of Gerontology, Wayne State University, Detroit, Michigan, USA.
Clinical Gerontologist
|August 4, 2021
Summary
Older adults reporting memory issues or living alone face higher financial exploitation risk. The Financial Exploitation Vulnerability Scale (FEVS) can identify these vulnerable seniors.
Area of Science:
- Gerontology
- Financial Gerontology
- Cognitive Gerontology
Background:
- Financial exploitation is a significant threat to older adults.
- Assessing vulnerability is crucial for prevention.
- The Financial Exploitation Vulnerability Scale (FEVS) was developed to measure this risk.
Purpose of the Study:
- To examine the criterion validity of self-reported memory complaints and living alone on FEVS risk scores.
- To determine if memory complaints and living situation predict financial exploitation risk.
Main Methods:
- 258 adults aged 60+ completed the FEVS online.
- Correlations, multiple regression, ANOVA, and chi-square analyses were used.
- Data collected between December 2020 and February 2021.
Main Results:
- FEVS scores significantly correlated with education, memory complaints, and living alone.
- Memory complaints and living alone explained 18% of the variance in FEVS scores.
- Memory complaints were a stronger predictor than living alone.
Conclusions:
- Older adults experiencing memory complaints require assessment for financial vulnerability.
- The FEVS is a useful tool for clinical gerontologists in assessing financial exploitation risk.
- Self-reported memory issues are key indicators of financial vulnerability in seniors.
More Related Videos
Related Concept Videos
01:29Reliability and Validity
13.3K
Reliability and validity are two important considerations that must be made with any type of data collection. Reliability refers to the ability to consistently produce a given result. In the context of psychological research, this would mean that any instruments or tools used to collect data do so in consistent, reproducible ways.
13.3K
01:22Self-Report Tests of Personality
509
Self-report inventories are objective personality assessments that use multiple-choice items or numbered scales, typically ranging from 1 (strongly disagree) to 5 (strongly agree). They are often called Likert scales after Rensis Likert. These inventories are widely used due to their ease of administration and cost-effectiveness. One of the most prominent examples is the Minnesota Multiphasic Personality Inventory (MMPI), initially developed in the 1940s to assess abnormal personality traits.
509
01:03Data Validation
5.9K
Data validation is an essential part of a comprehensive assessment. Validation is confirming or verifying and opening the door to gathering more assessment data as it clarifies vague or unclear data. The process of checking and verifying the collected information is called data validation. The primary purpose of data validation is to ensure data is as free from error, bias, and misinterpretation as possible.
Nursing assessment guides are generally based on holistic models rather than medical...
Nursing assessment guides are generally based on holistic models rather than medical...
5.9K
02:45Self-Discrepancy Theory
18.6K
One influential perspective on what motivates people's behavior is detailed in Tory Higgin's self-discrepancy theory (Higgins, 1987). He proposed that people hold disagreeing internal representations of themselves that lead to different emotional states.
18.6K
01:29Self-Evaluation Maintenance Model
65
The Self-Evaluation Maintenance (SEM) model offers a psychological framework to understand how individuals’ self-esteem is influenced by the achievements of others, particularly those with whom they share close personal bonds. The SEM model operates when personal rather than social identity guides individuals. Central to this model is the notion that individuals have an inherent desire to preserve a favorable self-image, which is continuously shaped by interpersonal comparisons and...
65
01:24Strategies of Self-Presentation III: Self-Monitoring
38
Self-monitoring is a central construct in understanding individual differences in self-presentation strategies across social contexts. It refers to how individuals observe, regulate, and control their expressive behavior and self-presentation following situational cues. Self-monitoring reflects a person's sensitivity to social appropriateness and willingness to adapt behavior to fit varying interpersonal demands.High vs. Low Self-Monitoring IndividualsIndividuals high in self-monitoring are...
38