Contents Mathematical Models with Applications: page 2...

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1 Texas Contents Mathematical Models with Applications: page Mathematical Models with Applications: page 2... Chapter 113. Texas Essential Knowledge and Skills for Social Studies: page Personal Financial Literacy: page 4... Course Principles of Business, Marketing, and Finance page Financial Mathematics: page Course Money Matters page Course Dollars and Sense: page Banking and Financial Services page The Lampo Group LLC 1

2 Texas STATE STANDARD OR BENCHMARK: CORRELATES WITH: Career/Technical Education Curriculum Standards Mathematical Models with Applications: ½ to 1 Credit (2) The student uses graphical and numerical techniques to study patterns and analyze data. The student is expected to: (A) interpret information from various graphs, including line graphs, bar graphs, circle graphs, histograms, scatterplots, line plots, stem and leaf plots, and box and whisker plots to draw conclusions from the data Unit 1, 2, 3, 4 (6) The student uses algebraic formulas, graphs, and amortization models to solve problems involving credit. The student is expected to: (A) analyze methods of payment available in retail purchasing and compare relative advantages and disadvantages of each option; Unit 1, Ch. 3 (7) The student uses algebraic formulas, numerical techniques, and graphs to solve problems related to financial planning. The student is expected to: (A) analyze types of savings options involving simple and compound interest and compare relative advantages of these options; (B) analyze and compare coverage options and rates in insurance; and (C) investigate and compare investment options including stocks, bonds, annuities, and retirement plans Mathematical Models with Applications: 1 Credit (1) Mathematical process standards. The student uses mathematical processes to acquire and demonstrate mathematical understanding. The student is expected to: (A) apply mathematics to problems arising in everyday life, society, and the workplace; Unit 1, 2, 3, The Lampo Group LLC 2

3 (B) use a problem-solving model that incorporates analyzing given information, formulating a plan or strategy, determining a solution, justifying the solution, and evaluating the problemsolving process and the reasonableness of the solution; (C) select tools, including real objects, manipulatives, paper and pencil, and technology as appropriate, and techniques, including mental math, estimation, and number sense as appropriate, to solve problems; (D) communicate mathematical ideas, reasoning, and the their implications using multiple representations, including symbols, diagrams, graphs, and language as appropriate; Unit 1, 2, 3, 4 Unit 1, 2, 3, 4 Unit 1, 2, 3, 4 (E) create and use representations to organize, record, and communicate mathematical ideas; Unit 1, 2, 3, 4 (F) analyze mathematical relationships to connect and communicate mathematical ideas; and Unit 1, 2, 3, 4 (G) display, explain, and justify mathematical ideas and arguments using precise mathematical language in written or oral communication. Unit 1, 2, 3, 4 (2) Mathematical modeling in personal finance. The student uses mathematical processes with graphical and numerical techniques to study patterns and analyze data related to personal finance. The student is expected to: (A) use rates and linear functions to solve problems involving personal finance and budgeting, including compensations and deductions; (B) solve problems involving personal taxes; and (C) analyze data to make decisions about banking, including options for online banking, checking accounts, overdraft protection, processing fees, and debit card/atm fees. (3) Mathematical modeling in personal finance. The student uses mathematical processes with algebraic formulas, graphs, and amortization modeling to solve problems involving credit. The student is expected to: (A) use formulas to generate tables to display series of payments for loan amortizations resulting from financed purchases; (B) analyze personal credit options in retail purchasing and compare relative advantages and disadvantages of each option; (C) use technology to create amortization models to investigate home financing and compare buying a home to renting a home; and (D) use technology to create amortization models to investigate automobile financing and compare buying a vehicle to leasing a vehicle The Lampo Group LLC 3

4 (4) Mathematical modeling in personal finance. The student uses mathematical processes with algebraic formulas, numerical techniques, and graphs to solve problems related to financial planning. The student is expected to: (A) analyze and compare coverage options and rates in insurance; (B) investigate and compare investment options, including stocks, bonds, annuities, certificates of deposit, and retirement plans; and (C) analyze types of savings options involving simple and compound interest and compare relative advantages of these options. Chapter 113. Texas Essential Knowledge and Skills for Social Studies Personal Financial Literacy: 1/2 Credit, Adopted 2016 (1) Earning and spending. The student understands how to set personal financial goals. The student is expected to: (A) differentiate between needs and wants in evaluating spending decisions; Unit 1, Ch. 1, 2, 3 Unit 2, Ch. 6 (B) investigate the student's money personality, including spending and saving propensity; Unit 1, Ch. 1, 2, 3 Unit 4, Ch. 10 (C) demonstrate an understanding of the value and benefits of charitable giving; and Unit 4, Ch. 12 (D) develop financial goals for the short, medium, and long term that are specific, measurable, attainable, realistic, and time based. Unit 1, Ch. 1, 2, 3 (2) Earning and spending. The student understands how financial statements are used to assess and monitor financial well-being. The student is expected to: (A) reconcile a bank statement with personal records to ensure the accuracy of deposits, withdrawals, and transfer activities; Unit 1, Ch. 3 (B) track income and expenses and develop an income statement; (C) develop a budget that incorporates short-, medium-, and long-term financial goals; Unit 1, Ch. 1, 2, The Lampo Group LLC 4

5 (D) identify assets and liabilities; Unit 1, Ch. 1, 2, 3, 5 (E) construct a balance sheet or net worth statement; and Unit 1, Ch. 1 (F) evaluate the impact of unplanned spending on a budget. Unit 1, Ch. 1, 2, 3, 5, 6 Unit 3, Ch. 7 (3) Earning and spending. The student analyzes components of compensation from employment. The student is expected to: (A) identify benefits such as health insurance contributions, retirement benefits, sick leave, vacation pay, flexible spending account, health savings account, workers compensation, life insurance, and disability insurance; (B) identify taxes that are deducted from paychecks, including Federal Insurance Contributions Act (FICA) and federal income taxes; and, 9 (C) calculate gross and net pay using information on a paycheck. (4) Earning and spending. The student critically evaluates consumption decisions. The student is expected to: (A) analyze costs and benefits of owning versus renting housing; Unit 1, Ch. 3 (B) analyze costs and benefits of owning versus leasing a vehicle; Unit 1, Ch. 3 (C) compare total costs of alternative methods of payment such as rent-to-own, store credit, installment agreements, cash, bank credit card, and debit card; and (D) apply strategies for making informed decisions about purchasing consumer goods such as comparing prices per unit, looking for sales or promotions, and negotiating price., 6 Unit 2, Ch. 6 Unit 3, Ch. 7 (5) Saving and investing. The student understands the importance of saving and investing in creating wealth and building assets. The student is expected to: (A) develop a short-term saving strategy to achieve a goal such as establishing and maintaining an emergency fund; (B) develop an intermediate-term saving and investing strategy to achieve a goal such as accumulating a down payment on a home or vehicle; (C) explain the tax benefits of charitable contributions; and Unit 4, Ch The Lampo Group LLC 5

6 (D) develop a long-term investing strategy to achieve a goal such as a financially secure retirement. (6) Saving and investing. The student understands the implementation of a saving and investing plan. The student is expected to: (A) discuss the role of financial institutions and markets in saving and investing; (B) demonstrate the impact of compound growth over time; (C) evaluate the costs and benefits of various savings options such as bank savings accounts, certificates of deposit, and money market mutual funds; and (D) evaluate risk and return of various investment options, including stocks, bonds, and mutual funds. (7) Saving and investing. The student demonstrates an understanding of the importance of planning for retirement. The student is expected to: (A) identify costs of retirement such as living expenses, health care expenses, and long-term care expenses; (B) identify and explain sources of income during retirement, including Social Security, individual savings, and employer-sponsored plans; and (C) demonstrate an understanding of the importance of saving early and at a sufficient level to achieve financial security in retirement., 9 (8) Credit and borrowing. The student understands the use of credit to make purchases. The student is expected to: (A) compare and contrast sources of credit such as banks, merchants, peer-to-peer, payday loans, and title loans; (B) compare and contrast types of credit, including revolving and installment credit, and collateralized loans versus unsecured credit; and (C) evaluate the impact of credit decisions on monthly budget, income statement, and net worth statement. Unit 1, Ch. 1, 2, 3 Unit 1, Ch. 1, 2, 3 Unit 1, Ch. 1, 2, 3 (9) Credit and borrowing. The student identifies factors that affect credit worthiness. The student is expected to: (A) discuss how character, capacity, and collateral can adversely or positively impact an individual's credit rating and the ability to obtain credit; Unit 1, Ch. 1, 2, 3, 5 (B) describe how to access and interpret a sample credit report and score; The Lampo Group LLC 6

7 (C) describe the importance of monitoring credit reports regularly and addressing mistakes; (D) identify factors that could lead to bankruptcy such as medical expenses, job loss, divorce, or a failed business; and (E) appraise the impact of borrowing decisions on credit score, including consequences of poor credit management and bankruptcy. (10) Credit and borrowing. The student evaluates a decision to use credit. The student is expected to: (A) examine the components of the cost of borrowing, including annual percentage rate (APR), fixed versus variable interest, length of term, grace period, and additional fees such as late payment, cash advance, and prepayment penalties; (B) explain strategies to reduce total cost of borrowing such as making a higher down payment and additional principal payments; and Unit 1, Ch. 1, 2, 3, 5 Unit 1, Ch. 1, 2, 3, 5 (C) differentiate between the use and cost of debit and credit cards. Unit 1, Ch. 1, 2, 3, 5 (11) Insuring and protecting. The student recognizes financial risks faced by individuals and families and identifies strategies for handling these risks. The student is expected to: (A) identify risk as potential loss of assets or earning potential; and, 9 (B) apply risk management strategies, including avoiding, reducing, retaining, and transferring risk., 9 (12) Insuring and protecting. The student identifies the costs and benefits of insurance for transferring risk. The student is expected to: (A) define insurance terminology, including premiums, deductibles, co-pays, and policy limits; (B) explain the costs and benefits of different types and sources of health insurance such as individual health plans, employer-provided health plans, and government-provided health plans; (C) explain the costs and benefits of disability and long-term care insurance; (D) explain the costs and benefits of life insurance, including term insurance and whole life insurance; (E) explain the costs and benefits of property insurance, including homeowner's and renter's insurance; The Lampo Group LLC 7

8 (F) explain the costs and benefits of automobile insurance and factors that impact the price of insurance, including the type of vehicle, age and sex of driver, driving record, deductible, and geographic location; and (G) explain the costs and benefits of supplemental types of insurance such as extended warranties, mortgage protection life insurance, accidental death and dismemberment life insurance, car loan payoff coverage, debt cancellation coverage, and credit life coverage. (13) Insuring and protecting. The student understands how to identify and protect themselves from frauds, schemes, and scams. The student is expected to: (A) identify ways to protect personal information and reduce risk of identity theft; (B) recognize common schemes and scams such as investment, pyramid, phishing, check cashing, and home renovation scams; and (C) demonstrate an understanding of how to use consumer protection agencies such as the Better Business Bureau, Consumer Financial Protection Board, or the Texas State Securities Board to research and report fraud. (14) Insuring and protecting. The student understands the legal instruments available for estate planning. The student is expected to: (A) explain the importance of guardianship of minor children, wills, and beneficiary designation; and (B) explain the importance of a power of attorney, living will, and medical directive. (15) College and postsecondary education and training. The student recognizes the costs and benefits of various types of college, postsecondary education, and training. The student is expected to: (A) analyze the relationship between education and training and earnings; (B) identify types of costs associated with college, postsecondary education, and training; (C) compare costs among postsecondary education and training institutions such as public universities, private universities, certification programs, and community colleges; and (D) analyze the quality of education investment using measures such as academic reputation, selectivity and rigor in a chosen area of study, average starting salary of students graduating in chosen field, and likelihood of student graduation. (16) College and postsecondary education and training. The student understands various options for paying for college, postsecondary education, and training. The student is expected to: The Lampo Group LLC 8

9 (A) understand how, why, and when to complete grant and scholarship applications and the Free Application for Federal Student Aid (FAFSA) provided by the U.S. Department of Education; (B) research various sources of funds for postsecondary education and training, including student loans, grants and scholarships, and other sources such as work-study and military programs; and (C) analyze the advantages and disadvantages of various sources of funds for postsecondary education and training, including student loans, grants and scholarships, and other sources such as work-study and military programs. Course Principles of Business, Marketing, and Finance (11) The student understands the fundamental principles of money. The student is expected to: (a) Evaluate forms of financial exchange, including cash, credit, debit, and electronic funds transfer. (b) Identify types of currency, including paper money, coins, banknotes, government bonds, and treasury notes; Unit 1, Ch. 3 Unit 1, Ch. 3 (c) List functions of money such as medium of exchange, unit of measure, and store of value; (d) Describe sources of income such as wages and salaries, interest, rent, dividends, capital gains, and transfer payment; (e) Explain the time value of money; Unit 1, Ch. 2 Unit 2, Ch. 6 (f) Summarize the purposes and importance of credit; and, 5 (g) Explain legal responsibilities associated with financial exchanges. Unit 4, Ch. 10 (12) The student demonstrates an understanding of personal financial management. The student is expected to: (a) Explain the importance of providing accurate information; N/A (b) Calculate gross and net pay; (c) Simulate opening and maintaining various types of bank accounts; Unit 1, Ch The Lampo Group LLC 9

10 (d) Reconcile bank statements; Unit 1, Ch. 3 (e) Compare the advantages and disadvantages of different types of banking service; (f) Examine investment growth by developing a personal investment plan; and (g) Prepare an individual income tax return. (13) The student knows that advertising is the paid form of non-personal communication about an identified sponsor s products. The student is expected to: (a) List types of advertising media; Unit 2, Ch. 6 (b) Differentiate between product and institutional advertising; and N/A (c) Identify and evaluate elements of an advertisement. Unit 2, Ch. 6 (14) The student discusses economic concepts impacting prices. N/A (15) The student analyzes career opportunities and formulates a career plan. The student is expected to: (a) Analyze individual goals and interest; Unit 1, Ch.1 Unit 4, Ch. 8 (b) Determine individual talents, abilities, and skills; and Unit 3, Ch. 5 (c) Develop an individual career plan Financial Mathematics: One Credit (1) The student demonstrates professional standards/employability skills as required by business and industry. The student is expected to: (A) demonstrate an understanding of appropriate communication with customers, employers, and coworkers through verbal, nonverbal, or digital means; (B) demonstrate an understanding of the use of business etiquette; The Lampo Group LLC 10

11 (C) demonstrate an understanding of appropriate customer service such as building customer relationships and resolving customer complaints; and Unit 3, Ch. 7 (D) demonstrate an understanding of ethical and legal issues in business. (2) The student uses mathematical processes to acquire and demonstrate mathematical understanding. The student is expected to: (A) apply mathematics to problems arising in everyday life, society, and the workplace; Unit 1, 2, 3, 4 (B) use a problem-solving model that incorporates analyzing given information, formulating a plan or strategy, determining a solution, justifying the solution, and evaluating the problemsolving process and the reasonableness of the solution; (C) select tools, including real objects, manipulatives, paper and pencil, and technology as appropriate, and techniques, including mental math, estimation, and number sense as appropriate, to solve problems; Unit 1, 2, 3, 4 Unit 1, 2, 3, 4 (D) communicate mathematical ideas, reasoning, and their implications using multiple representations, including symbols, diagrams, graphs, and language as appropriate; Unit 1, 2, 3, 4 (E) create and use representations to organize, record, and communicate mathematical ideas; Unit 1, 2, 3, 4 (F) analyze mathematical relationships to connect and communicate mathematical ideas; and Unit 1, 2, 3, 4 (G) display, explain, and justify mathematical ideas and arguments using precise mathematical language in written or oral communication. Unit 1, 2, 3, 4 (3) The student applies mathematical process standards to demonstrate an understanding of employment earnings. The student is expected to: (A) identify sources of income, including wages and salaries, interest, rent, dividends, and capital gains; (B) compare common employee benefits such as health insurance, sick leave, and retirement plans; (C) differentiate among and calculate gross, net, and taxable income; (D) analyze and interpret payroll deductions, including federal taxes, state taxes, and city taxes, using current tax rates; (E) examine and evaluate the reasons for federal income taxation, Social Security taxation, and Medicare taxation, including earnings limitations as applicable; (F) calculate net pay; The Lampo Group LLC 11

12 (G) compare and contrast between independent contractor earnings and employee earnings, including tax requirements, tax forms (W-2, W-4, 1099, and Form 941), and benefit requirements; (H) calculate the various earnings as affected by the laws related to minimum wage, overtime, income from tips, exempt and non-exempt status, and contract and employee status; (I) calculate the impact of paying with after-tax dollars versus pre-tax dollars for items such as medicine, services, and investments; (J) analyze and interpret total compensation, including payroll, Federal Insurance Contribution Act (FICA) tax, employer cost of benefits, employers' matching costs for FICA and Medicare, and employer match in savings plans, to explain how compensation is more than what is reflected in a paycheck; (K) compare total compensation as a self-employed or independent contractor with total compensation as an employee; and (L) analyze how economic and other conditions can affect income and career opportunities and the need for lifelong training and education. Unit 1, Ch. 1, 2, 3 (4) The student applies mathematical process standards to demonstrate an understanding of the various federal taxes. The student is expected to: (A) calculate federal income taxes owed or refunded, including the completion of a 1040EZ and 1040, using current rates; (B) calculate capital gains tax using current rates; (C) calculate self-employment or independent contractor taxes using current rates; (D) define and locate sources for current rates for estate and inheritance taxes; (E) analyze gift and estate taxes using current rates; (F) calculate tax on interest income and use regression methods available through technology to analyze data and interpret the results by tax bracket; (G) calculate personal exemptions; (H) calculate itemized deductions and compare to standard deductions; (I) calculate deductible charitable contributions; The Lampo Group LLC 12

13 (J) understand filing status as it applies to X, Y, and Z tax schedules; (K) compare marginal tax rates to effective income tax rates and the misuse of these terms in advertising; (L) describe the relationships among education tax credit, student loan interest, dependency and filing status, and income tax liability; and (M) research and locate options for tax return preparation such as software programs and tax preparation providers. (5) The student applies mathematical process standards to demonstrate an understanding of the various financial institutions and accounts. The student is expected to: (A) demonstrate an understanding of various forms of financial exchange, including cash, checks, credit cards, debit cards, and electronic funds transfers; (B) identify and explain the advantages and disadvantages of interest-bearing accounts such as savings accounts, checking accounts, certificates of deposits, and money market accounts; (C) calculate the time value of money, with or without technology, using exponential and rational functions that include graphs, tables, and algebraic methods related to simple and compound interest; (D) analyze various representations of exponential functions with respect to compound interest situations and use the rule of 72 to determine the number of years it will take for savings to double in value; Unit 1, Ch. 1, 2, 3, 5, 6 (E) analyze a bank statement for accuracy; Unit 1, Ch. 3 (F) compare financial services offered in the community; and, 5 (G) identify the sources of funds such as savings, earnings, or debt to be used to purchase consumable and non-consumable goods. Unit 1, Ch. 1, 2, 3, 5, 6 Unit 3, Ch. 7, 8 (6) The student applies mathematical process standards to demonstrate an understanding of the various types of credit. The student is expected to: (A) determine the advantages and disadvantages of credit cards such as cashback rewards, balance transfer, foreign currency, interest rates charged, late payment fees, credit score, and bonus incentives; Unit 1, Ch. 1, 2, The Lampo Group LLC 13

14 (B) calculate the cost of using credit cards, including various financial fees; (C) analyze and compare graphically, with or without technology, the differences in the cost of borrowing such as using a bank loan, a credit union loan, a student loan, and an easy-access loan such as a pay-day loan and an auto title loan;, 5 (D) analyze the risks for each type of loan;, 5 (E) evaluate the process for a bank loan or a credit union loan; (F) collect and organize data, make and interpret scatterplots, interpret the results, and make critical judgments about loan balances when equal monthly payments are made;, 5 (G) analyze credit scores and explain the meanings of the scores; (H) explain ways a negative credit report can affect a consumer's financial options; and (I) analyze a personal credit report. (7) The student applies mathematical process standards to demonstrate an understanding of the cost of housing by comparing home purchases and renting. The student is expected to: (A) analyze data of mortgage payments with various additional principal payments involving exponential functions using tables, graphs, or algebraic methods; (B) create an amortization table using technology to collect and organize data to make decisions and critical judgments about varying the down payment, period of loan, special principal payment, and interest rate for a home loan; (C) compare options for saving for a down payment on a home; (D) determine costs associated with home ownership, including property taxes; mortgage insurance; homeowner's insurance, including property damage, liability, and flood and earthquake insurances; and closing costs; (E) analyze and interpret mortgage tax deductions; (F) determine other costs associated with home ownership, including cost of maintenance, repairs, utilities, and association fees; (G) determine the appropriate savings needed to maintain home payments in the event of a financial emergency; The Lampo Group LLC 14

15 (H) demonstrate an understanding of the consequences to individuals in times of recession and falling home prices such as during the mortgage crisis of and identify how the financial and personal impact could have been reduced; (I) compare the cost of homeownership versus renting, identifying benefits and drawbacks to both homeownership and renting such as the mortgage-related income tax deductions; (J) use the multiple listing service to identify and compare housing properties; (K) analyze and explain a typical apartment lease such as terms, deposit, occupancy, parking, and cancellation contract policy; and (L) compare options for coverage for renter's insurance. (8) The student applies mathematical process standards to demonstrate an understanding of the difference between a vehicle purchase and a vehicle lease and costs associated with each. The student is expected to: (A) create an amortization table using technology to collect and organize data to make decisions and critical judgments about varying the down payment, period of loan, special principal payment, and interest rates for a vehicle loan; (B) determine the costs associated with owning and leasing a vehicle, including insurance, maintenance, repairs, and fuel; (C) compare the total cost of buying and owning a vehicle to leasing a vehicle; (D) compare the total cost of purchase and maintenance of several possible vehicles; (E) identify and understand the costs and benefits of maintenance contracts and vehicle warranties; (F) calculate the funding needed to maintain vehicle payments in the event of a financial emergency; and (G) research various options for a driver's education course and the benefits of the course and the impact of a moving violation on insurance rates. (9) The student applies mathematical process standards to demonstrate an understanding of investment options. The student is expected to: (A) identify the factors involved in the various methods of buying and selling stocks and mutual funds, including load and no-load funds, by evaluating the stock dividend yield, price-earnings ratio, return on investment, earnings per share, and net asset value; (B) calculate the cost of buying and selling bonds and analyze the investment return from bond yield and bond interest payment; The Lampo Group LLC 15

16 (C) compare differences among investments, including stocks, bonds, mutual funds, Exchange Traded Funds, and real estate; and (D) compare the risk and return for a diversified and non-diversified investment portfolio in a student-created portfolio. (10) The student applies mathematical process standards to demonstrate an understanding of various types of insurance, including life, health, disability, and income insurances, and special protection. The student is expected to: (A) analyze the costs and benefits of term and permanent (whole) life insurance such as the cost of premiums, dividends, accumulation of cash value, tax treatment of death benefits, and protection from creditors of death benefits and cash values; (B) estimate the amount of life insurance needed using a needs approach or an earnings multiple approach; (C) estimate the cost of healthcare coverage, including the cost of health insurance premiums, co-payments, deductibles, and out-of-pocket expenses; (D) explain the need for disability income insurance and research the cost; (E) compare the benefits to the costs of special protection coverages such as cancer, pet, vacation, burial, international travel, and purchase protection; (F) demonstrate an understanding of the actuarial process used to set premiums; and (G) demonstrate an understanding of insurance company and agent selection and professional designations within the insurance profession. (11) The student applies mathematical process standards to demonstrate an understanding of retirement plans. The student is expected to: (A) compare tax advantage retirement plans, including Individual Retirement Accounts (IRAs), Roth IRAs, 401(k) plans, and 403(b) plans, and determine an appropriate investment for retirement; (B) calculate and graph the exponential function showing the benefits of starting early to invest with continuous contributions; (C) calculate tax treatment penalty for early withdrawal; and (D) calculate, using technology, the amount that must be saved annually to achieve financial independence by a desired age The Lampo Group LLC 16

17 (12) The student applies mathematical process standards to demonstrate an understanding of a fixed pension, a variable pension, social security, and an annuity. The student is expected to identify an annuity and calculate and display graphically the future value of an annuity. (13) The student applies mathematical process standards to demonstrate an understanding of wills and trusts for the distribution of assets at death. The student is expected to identify how wills and trusts support the distribution of assets after death. (14) The student applies mathematical process standards to demonstrate an understanding of charitable giving. The student is expected to demonstrate an understanding of the value and benefits of charitable giving. (15) The student applies mathematical process standards to demonstrate an understanding of the budgeting process. The student is expected to: (A) create a comprehensive balanced personal budget, including fixed and variable expenses, college savings, emergency savings, and retirement savings; Unit 1, Ch. 1, 2, 3, 5, 9 (B) identify free resources to assist with maintaining a budget; and Unit 1, Ch. 1, 2, 3 (C) compare different standards of living in the United States, including poverty, minimum wage, living wage, and desired standards of living. Global Econ Digital Module (16) The student applies mathematical process standards to demonstrate an understanding of identity theft. The student is expected to: (A) define and explain types of identity theft; (B) create a plan for prevention of identity theft; and (C) identify suitable methods for reporting identity theft. (17) The student applies mathematical process standards to demonstrate an understanding for a postsecondary plan. The student is expected to: (A) understand educational, military, and current job opportunities; (B) research and align interests and skills with potential careers and postsecondary education to assure a life strategy that will produce employment the student enjoys with a desired standard of living; (C) calculate the total funding required to complete a desired postsecondary education program; The Lampo Group LLC 17

18 (D) identify different resources for acquiring funding for education after high school such as personal savings, employment, Free Application for Federal Student Aid (FAFSA), Texas Application for Federal Student Aid, Expected Family Contribution, Pell Grants, work-study programs, student loans, Individual Development Accounts, scholarships such as the Preliminary SAT/National Merit Scholarship Qualifying Test (PSAT/NMSQT ), and internships to reduce the projected cost of education; (E) identify benefits and potential savings for students investing in themselves such as taking Advanced Placement and dual credit classes; (F) graph and compare compensation earnings of potential careers and the cost of postsecondary education; and (G) calculate the Return on Investment from completing a desired postsecondary education program, taking into consideration anticipated earnings for a selected degree and the cost of attending a specific postsecondary program. Course Money Matters (1) The student demonstrates professional standards/employability skills as required by business and industry. The student is expected to: (D) demonstrate an understanding of ethical and legal issues in business Unit 4, Ch. 10 (2) The student uses career planning concepts, tools, and strategies to explore, obtain, and develop a financial plan. (3) The student demonstrates an understanding of postsecondary plan. The student is expected to: (A) understand educational, military, and current job opportunities (4) The student demonstrates an understanding of the fundamental principles of money. The student is expected to: (A) explain forms of financial exchange, including cash, credit cards, debit cards, and electronic funds transfer Unit 1, Ch. 3 (5) The student examines economic systems. Global Econ Digital Module (6) The student examines personal financial activities and the role of government The Lampo Group LLC 18

19 (7) The student discusses economic indicators impacting personal financial decision making. (8) The student analyzes the impact of international activities on personal financial decision making. (9) The student examines how personal financial decisions are used to achieve financial goals. The student is expected to: Unit 2, Ch. 6 Unit 4, Ch. 12 (C) examine tax liabilities, including as they relate to the completion of a W-4 (F) maintain financial records Unit 1, Ch. 3 (10) The student understands the purposes of financial service providers. The student is expected to: (G) calculate an automobile loan payment schedule (11) The student identifies various investment strategies. (12) The student identifies methods to manage personal risk. The student is expected to: (B) explore the reasons for obtaining personal insurance, including health, disability, life, cancer and long-term care insurance Course Dollars and Sense: ½ to 1 Credit (1) The student demonstrates management of individual and family resources such as finances, food, clothing, shelter, health care, recreation, transportation, time, and human capital. The student is expected to: (a) Analyze the economic rights and responsibilities of individuals as consumers; Unit 1, 2, 3, 4 (b) Apply management, planning skills, and processes to organize tasks and responsibilities; Unit 1, 2, 3, 4 (c) Develop and apply multiple strategies for individuals and families to makes choices to satisfy needs and wants; (d) Analyze the consequences of an economic decision made by an individual consumer such as the decisions to provide safe and nutritious foods, clothing, housing, health care, recreation, and transportation; and Unit 1, 6 Unit 3, Ch. 7 Unit 4, Ch. 10, 11 Unit 2, Ch The Lampo Group LLC 19

20 (e) Analyze the impact of media and technological advances of family and consumer decisions. Unit 2, Ch. 6 (2) The student demonstrates management of financial resources to meet the goals of individuals and families across the life span. The student is expected to: (a) Evaluate the need for personal and family financial planning, including budgeting, expense records, and maintaining economic self-sufficiency; (b) Compare types of loans available to consumers and distinguish criteria for becoming a lowrisk borrower; (c) Connect mathematics to the understanding of interest, including avoiding and eliminating credit card debt; (d) Collect evidence and data related to implementing a savings program, the time value of money, and retirement planning; Unit 1, 5 Unit 1, Ch. 2 Unit 1, Ch. 2 (e) Explore how to be a prudent investor in the stock market and other investment options; (f) Investigate the benefits of charitable giving; Unit 4, Ch. 12 (g) Compare types of bank accounts available to consumers and the benefits of maintaining a bank account; (h) Demonstrate the ability to balance a check book; Unit 1, Ch. 3 (i) Investigate bankruptcy laws, including ways to avoid bankruptcy; (j) Apply management principles to decisions about insurance for individuals and families; Unit 1, Ch. 3 (k) Evaluate personal and legal documents related to managing individual and family finances such as birth certificates, medical records, social security cards, financial records, and property records; and (l) Demonstrate the ability to use calculators, spreadsheets, computers, and software in data analysis relating to finance. Unit 1, Ch. 3 Unit 3 Ch. 9 Global Econ Digital Module (3) The student demonstrates effective consumer skills related to housing needs. The student is expected to: (a) Explain consumer rights and responsibilities associated with renting or buying a home;, 9 Unit 4, Ch The Lampo Group LLC 20

21 (b) Analyze legal and financial aspects of purchasing and leasing housing; and, 9 Unit 4, Ch. 10 (c) Propose money-management skills necessary to make the transition from renting to home ownership. (4) The student analyzes the relationship of the environment to family and consumer resources. The student is expected to: (a) Analyze individual and family responsibilities in relation to environmental trends and issues; Unit 2, Ch. 6 (b) Summarize environmental trends and issues affecting families and future generations; (c) Demonstrate behaviors that conserve, reuse, and recycle resources to maintain the environment; and (d) Explain government regulations for conserving natural resources. N/A N/A N/A (5) The student analyzes relationships between the economic system and consumer actions. The students is expected to: (a) Analyze economic effects of laws and regulations that pertain to consumers and providers of services; and (b) Identify types of taxes at the local, state, and national levels and the economic importance of each. Unit 2, Ch. 6 (6) The student integrates knowledge, skills, and practices required for careers in consumer services. The student is expected to: (a) Explain the roles and functions of individuals engaged in consumer services careers; (b) Analyze opportunities for employment and entrepreneurial endeavors; (c) Summarize education and training requirements for consumer services careers; and (d) Investigate professional organizations for consumer services. N/A N/A N/A N/A The Lampo Group LLC 21

22 Banking and Financial Services General requirements. This course is recommended for students in Grades Recommended prerequisite: Principles of Business, Marketing, and Finance. Students shall be awarded one-half credit for successful completion of this course. 1) The student demonstrates professional standards/employability skills as required by business and industry. The student is expected to: (A) demonstrate effective oral and written communication skills; Unit 1, 2, 3, 4 (B) perform numerical and arithmetic applications; Unit 1, 2, 3, 4 (C) demonstrate an understanding of integrity and strong work ethic; (D) demonstrate attention to detail in completed assignments; and Unit 1, 2, 3, 4 (E) demonstrate effective problem solving. Unit 1, 2, 3, 4 (2) The student evaluates the role of banking in the modern economy. The student is expected to: (A) outline the evolution of money and banking in the U.S. economy; Unit 1, Ch. 1, 3 (B) explain the operation of the Federal Reserve Bank and its role in the economy; (C) outline and analyze the history and the impact of the use of the gold or silver standard in monetary policy; (D) compare and contrast the types of financial institutions such as commercial banks, savings and loan associations, credit unions, investment banks, financial services companies, and mortgage companies; Unit 1, Ch. 1, 3 (E) discuss the role of the World Bank Group in international financial assistance; and (F) explain the nature of government agencies that provide financing to businesses such as the Export-Import Bank of the United States and the Small Business Administration. (3) The student acquires knowledge of banking processes and services. The student is expected to: (A) describe the nature of banking processes; Unit 1, Ch The Lampo Group LLC 22

23 (B) describe the types of banking services; Unit 1, Ch. 3 (C) discuss retail bank products and services; Unit 1, Ch. 3 (D) explain business bank products and services; (E) describe basic teller performance standards; (F) discuss the nature of loan products; and (G) discuss trust services available to customers. (4) The student describes the roles and responsibilities in banking services, including educational requirements. The student is expected to: (A) explain the role and responsibilities of administrative careers in banking services; and (B) describe the role and responsibilities of executive and managerial careers in banking services. (5) The student determines client needs and wants and responds through planned, personalized communication to influence purchase decisions and enhance future business opportunities in banking services. The student is expected to: (A) describe the importance of selling in the banking industry, including cross-selling and relationship selling; (B) explain the process of opening a new account; and Unit 1, Ch. 3 (C) describe loan terms for a client. (6) The student simulates the day-to-day activities within a banking organization in order to ensure secure operations. The student is expected to: (A) describe bank loss prevention measures such as procedures for the secure handling of cash and checks; detecting and reporting counterfeit currency; developing business continuity plans; and preventing crimes to which a bank could fall victim such as fraud, robbery, and phishing; (B) discuss the role of the Federal Reserve System in banking operations and cash-handling procedures; C) simulate daily cash processing activities such as processing damaged and mutilated currency and coin, ordering and depositing currency, depositing checks, handling differences in cash received and deposited, and transporting cash; The Lampo Group LLC 23

24 (D) analyze the underwriting of loan applications to determine credit worthiness of customers, including credit analysis, and factors affecting loan pricing and structuring; and (E) discuss the nature of problem loan management. (7) The student describes laws and regulations used to manage business operations and transactions in the banking services industry. The student is expected to: (A) explain the elements of a compliance program; (B) discuss functional areas of a compliance audit; (C) analyze a compliance plan; (D) discuss federal regulations of lending and operations functions in banking services, including the ethical and social aspects of those regulations; (E) discuss e-compliance issues in banking services; and (F) discuss the responsibilities of regulatory agencies that oversee the banking industry. (8) The student investigates ways to create and maintain positive, ongoing relationships with banking customers in order to enhance the organization's image. The student is expected to: (A) explain ways to cultivate positive relationships with customers to enhance company image; (B) discuss the importance of meeting and exceeding customer expectations; and (C) describe the relationships that institutions providing banking services have with their communities. 9) The student maintains, monitors, controls, and plans the use of financial resources to enhance banking performance. The student is expected to: (A) describe the manner in which banks generate profit and explain measures they take to ensure profitability; and B) use financial formulas commonly used in banking to aid in the growth and stability of banking services, including key ratios and banking calculations such as interest and annual percentage rate, capital adequacy, asset quality, management administration, earnings, liquidity, and sensitivity to market risk The Lampo Group LLC 24