PISA stands for Program for International Student Assessment. PISA is a 2-hour test that measures reading , maths and science among 15 year olds (as it is at this age when most students are in their final year of compulsory education). Every time PISA is carried out, the main focus of the test varies. So PISA assesses how students at the end of compulsory education perform on these 3 subjects. PISA was developed by the OECD.
The OECD (Organisation for Economic Co-operation and Development) is an inter-governmental organisation involving 34 countries.
PISA started in 2000 and is carried out every 3 years. PISA 2012 included financial literacy and general problem solving.