Core Curriculum Content Standards

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21st Century Life and Careers Standards Learning Progressions

9.2 Personal Financial Literacy All students will develop skills and strategies that promote personal and financial responsibility related to financial planning, savings, investment, and charitable giving in the global economy.
G. Risk Management and Insurance
By the end of Grade 4 By the end of Grade 8 By the end of Grade 12
Content: There are common financial risks and ways to manage risks.

9.2.4.G.1 Summarize common types of financial risks and basic risk management strategies.
Content: There are common financial risks and ways to manage risks.

9.2.8.G.1 Compare the impact of losses associated with different types of financial risk.
Content: There are common financial risks and ways to manage risks.

9.2.12.G.1 Analyze risks and benefits in various financial situations.
Content: Insurance is designed to protect the consumer against unintended losses.

9.2.4.G.2 Explain the importance of protection against financial loss and reasons for risk assessment.
Content: There are common financial risks and ways to manage risks.

9.2.8.G.2 Explain why it is important to develop plans for protecting current and future personal assets against loss.
Content: Insurance is designed to protect the consumer against unintended losses.

9.2.12.G.2 Differentiate between property and liability insurance protection.
Content: Insurance is designed to protect the consumer against unintended losses.

9.2.4.G.3 Describe how valuable items might be damaged or lost and ways to protect them.
Content: Insurance is designed to protect the consumer against unintended losses.

9.2.8.G.3 Explain the purpose and importance of health, disability, life, and consumer insurance protection.
Content: Insurance is designed to protect the consumer against unintended losses.

9.2.12.G.3 Compare the cost of various types of insurance (e.g., life, homeowners, motor vehicle) for the same product or service, given different liability limits and risk factors.
Content: Insurance is designed to protect the consumer against unintended losses.

9.2.8.G.4 Determine criteria for deciding the amount of insurance protection needed.
Content: Insurance is designed to protect the consumer against unintended losses.

9.2.12.G.4 Evaluate individual and family needs for insurance protection using opportunity-cost analysis.
Content: Insurance is designed to protect the consumer against unintended losses.

9.2.8.G.5 Analyze the need for and value of different types of insurance and the impact of deductibles.
Content: Insurance is designed to protect the consumer against unintended losses.

9.2.12.G.5 Compare insurance policy coverage limits and related premiums and deductibles to minimize costs.
Content: Insurance is designed to protect the consumer against unintended losses.

9.2.8.G.6 Evaluate the need for different types of extended warranties.
Content: Insurance is designed to protect the consumer against unintended losses.

9.2.12.G.6 Differentiate the costs and benefits of renter’s and homeowner’s insurance.
Content: Insurance is designed to protect the consumer against unintended losses.

9.2.12.G.7 Compare sources of health and disability coverage, including employee benefit plans, with options in another country.
Content: Insurance is designed to protect the consumer against unintended losses.

9.2.12.G.8 Compare and contrast options for long-term healthcare insurance for home care and external care.
Content: Insurance is designed to protect the consumer against unintended losses.

9.2.12.G.9 Explain how to self-insure and how to determine when self-insurance is appropriate.
Content: Insurance is designed to protect the consumer against unintended losses.

9.2.12.G.10 Determine when and why it may be appropriate for the government to provide insurance coverage, rather than private industry.