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Finance (FRL)

This guide describes useful tools and resources for researching finance topics.

How to use the CRAAP Test to Evaluate Your Sources

When you search for information, you're going to find lots of it... but is it good information? You will have to determine that for yourself, and the CRAAP Test can help. The CRAAP Test is a list of questions to help you evaluate the information you find. Different criteria will be more or less important depending on your situation or need. Score each category on a scale of 1-10 (1=unreliable, 10=excellent), and then add up your total.

46 - 50 = Excellent
41 - 46 = Good
36 - 40 = Average
31 - 35 = Borderline Acceptable
30 and below = Unacceptable

 Currency: The timeliness of the information.

  • When was the information published or posted?
  • Has the information been revised or updated?
  • Does your topic require current information, or will older sources work as well?
  • Are the links functional?

 Relevance: The importance of the information for your needs.

  • Does the information relate to your topic or answer your question?
  • Who is the intended audience?
  • Is the information at an appropriate level (i.e. not too elementary or advanced for your needs)?
  • Have you looked at a variety of sources before determining this is one you will use?
  • Would you be comfortable citing this source in your research paper?

 Authority: The source of the information.

  • Who is the author/publisher/source/sponsor?
  • What are the author's credentials or organizational affiliations?
  • Is the author qualified to write on the topic?
  • Is there contact information, such as a publisher or email address?
  • Does the URL reveal anything about the author or source? examples: .com .edu .gov .org .net

 Accuracy: The reliability, truthfulness and correctness of the content.

  • Where does the information come from?
  • Is the information supported by evidence?
  • Has the information been reviewed or refereed?
  • Can you verify any of the information in another source or from personal knowledge?
  • Does the language or tone seem unbiased and free of emotion?
  • Are there spelling, grammar or typographical errors?

 Purpose: The reason the information exists.  

  • What is the purpose of the information? Is it to inform, teach, sell, entertain or persuade?
  • Do the authors/sponsors make their intentions or purpose clear?
  • Is the information fact, opinion or propaganda?
  • Does the point of view appear objective and impartial?
  • Are there political, ideological, cultural, religious, institutional or personal biases? 

How to Use the SIFT Method to Evaluate Your Sources

The SIFT method consists of the following four moves:

 Stop

When you first see a source of information, stop and ask yourself whether the source is reputable. If you don’t know, use the other moves to find out. Don’t share this information until you know.

 Investigate the source

Who is the author? Do they have the expertise? What is their agenda? Do they have vested interests? Are they possibly biased?

This doesn’t mean the experts are always right or that no one with vested interests can’t be trusted, but knowing the expertise and agenda of the source is crucial.

 Find better coverage

Find multiple sources about the same topic. See if they agree or disagree with your original source. Get a sense of what the expert consensus seems to be. 

Do you have to agree with the consensus once you find it? Absolutely not. But understanding the context and history of a claim will help you better evaluate it and form a starting point for future investigation.

 Trace claims, quotes, and media back to the original context

Much of what we find on the internet has been stripped of context. It's important to trace your information back to the original source so you can see it in its original context and get a sense if the version you saw was accurately presented.

How to Use the PROVEN Method to Evaluate Your Sources

 Purpose: How and why the source was created.

  • Why does this information exist—to educate, inform, persuade, sell, entertain? Do the authors, publishers, or sponsors state this purpose, or try to disguise it? Is the source deliberately trying to misinform?
  • Why was this information published in this particular type of source (book, article, website, blog, etc.)?
  • Who is the intended audience—the general public, students, experts?

 Relevance: The value of the source for your needs.

  • Is the type of source appropriate for how you plan to use it and for your assignment’s requirements?
  • How useful is the information in this source, compared to other sources? Does it answer your question or support your argument? Does it add something new and important to your knowledge of the topic?
  • How detailed is the information? Is it too general or too specific? Is it too basic or too advanced?
  • Objectivity: The reasonableness and completeness of the information. 
  • Do the authors present the information thoroughly and professionally? Do they use strong, emotional, manipulative, or offensive language?
  • Do the authors, publishers, or sponsors have a particular political, ideological, cultural, or religious point of view? Do they acknowledge this point of view, or try to disguise it?
  • Does the source present fact or opinion? Is it biased? Does it offer multiple points of view and critique other perspectives respectfully? Does it leave out, or make fun of, important facts or perspectives?

 Verifiability: The accuracy and truthfulness of the information.

  • Do the authors support their information with factual evidence? Do they cite or link to other sources? Can you verify the credibility of those sources? Can you find the original source of the information?
  • What do experts say about the topic? Can you verify the information in other credible sources?
  • Does the source contradict itself, include false statements, or misrepresent other sources?
  • Are there errors in spelling, punctuation, or grammar?

 Expertise: The authority of the authors and the source.

  • What makes the authors, publishers, or sponsors of the source authorities on the topic? Do they have related education, or personal or professional experience? Are they affiliated with an educational institution or respected organization? Is their expertise acknowledged by other authorities on the topic? Do they provide an important alternative perspective? Do other sources cite this source?
  • Has the source been reviewed by an editor or through peer review?
  • Does the source provide contact information for the authors, publishers, and/or sponsors?

 Newness: The age of the information.

  • Is your topic in an area that requires current information (such as science, technology, or current events), or could information found in older sources still be useful and valid?
  • When was the information in the source first published or posted? Are the references/links up to date?
  • Are newer sources available that would add important information to your understanding of the topic?