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Content Area
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21st-Century Life and Careers
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Standard
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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.
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Strand
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C. Credit and Debt Management
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| By the end of grade |
Content Statement |
CPI# |
Cumulative Progress Indicator (CPI) |
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4
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Credit management includes making informed choices about sources of credit and requires an understanding of the cost of credit.
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9.2.4.C.1
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Explain why people borrow money and the relationship between credit and debt.
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9.2.4.C.2
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Identify common sources of credit (e.g., banks, credit card companies) and types of credit (e.g., loans, credit cards, mortgages).
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9.2.4.C.3
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Compare and contrast credit cards and debit cards and the advantages and disadvantages of using each.
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9.2.4.C.4
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Determine the relationships among income, expenses, and interest.
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Credit worthiness is dependent on making informed credit decisions and managing debt responsibly.
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9.2.4.C.5
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Determine personal responsibility related to borrowing and lending.
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9.2.4.C.6
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Summarize ways to avoid credit problems.
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8
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Credit management includes making informed choices about sources of credit and requires an understanding of the cost of credit.
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9.2.8.C.1
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Compare and contrast the financial products and services offered by different types of financial institutions.
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9.2.8.C.2
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Compare and contrast debt and credit management strategies.
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9.2.8.C.3
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Demonstrate an understanding of the terminology associated with different types of credit (e.g., credit cards, installment loans, mortgages) and compare the interest rates associated with each.
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9.2.8.C.4
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Calculate the cost of borrowing various amounts of money using different types of credit (e.g., credit cards, installment loans, mortgages).
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Credit worthiness is dependent on making informed credit decisions and managing debt responsibly.
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9.2.8.C.5
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Determine ways to leverage debt beneficially.
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9.2.8.C.6
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Determine potential consequences of using “easy access” credit (e.g., using a line of credit vs. obtaining a loan for a specific purpose).
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9.2.8.C.7
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Explain the meaning and possible consequences of “predatory lending practices.”
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9.2.8.C.8
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Explain the purpose of a credit score and credit record, and summarize borrowers’ credit report rights.
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9.2.8.C.9
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Summarize the causes and consequences of personal bankruptcy.
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9.2.8.C.10
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Determine when there is a need to seek credit counseling and appropriate times to utilize it.
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12
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Credit management includes making informed choices about sources of credit and requires an understanding of the cost of credit.
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9.2.12.C.1
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Compare and contrast the financial benefits of different products and services offered by a variety of financial institutions.
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9.2.12.C.2
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Compare and compute interest and compound interest and develop an amortization table using business tools.
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9.2.12.C.3
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Compute and assess the accumulating effect of interest paid over time when using a variety of sources of credit.
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9.2.12.C.4
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Compare and contrast the advantages and disadvantages of various types of mortgages.
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Credit worthiness is dependent on making informed credit decisions and managing debt responsibly.
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9.2.12.C.5
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Analyze the information contained in a credit report and explain the importance of disputing inaccurate entries.
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9.2.12.C.6
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Explain how predictive modeling determines “credit scores.”
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9.2.12.C.7
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Explain the rights and responsibilities of buyers and sellers under consumer protection laws, and discuss common unfair or deceptive business practices.
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9.2.12.C.8
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Evaluate the implications of personal and corporate bankruptcy for self and others.
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