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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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G. Risk Management and Insurance
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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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There are common financial risks and ways to manage risks.
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9.2.4.G.1
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Summarize common types of financial risks and basic risk management strategies.
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Insurance is designed to protect the consumer against unintended losses.
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9.2.4.G.2
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Explain the importance of protection against financial loss and reasons for risk assessment.
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9.2.4.G.3
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Describe how valuable items might be damaged or lost and ways to protect them.
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8
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There are common financial risks and ways to manage risks.
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9.2.8.G.1
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Compare the impact of losses associated with different types of financial risk.
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9.2.8.G.2
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Explain why it is important to develop plans for protecting current and future personal assets against loss.
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Insurance is designed to protect the consumer against unintended losses.
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9.2.8.G.3
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Explain the purpose and importance of health, disability, life, and consumer insurance protection.
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9.2.8.G.4
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Determine criteria for deciding the amount of insurance protection needed.
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9.2.8.G.5
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Analyze the need for and value of different types of insurance and the impact of deductibles.
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9.2.8.G.6
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Evaluate the need for different types of extended warranties.
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12
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There are common financial risks and ways to manage risks.
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9.2.12.G.1
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Analyze risks and benefits in various financial situations.
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Insurance is designed to protect the consumer against unintended losses.
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9.2.12.G.2
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Differentiate between property and liability insurance protection.
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9.2.12.G.3
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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.
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9.2.12.G.4
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Evaluate individual and family needs for insurance protection using opportunity-cost analysis.
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9.2.12.G.5
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Compare insurance policy coverage limits and related premiums and deductibles to minimize costs.
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9.2.12.G.6
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Differentiate the costs and benefits of renter’s and homeowner’s insurance.
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9.2.12.G.7
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Compare sources of health and disability coverage, including employee benefit plans, with options in another country.
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9.2.12.G.8
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Compare and contrast options for long-term healthcare insurance for home care and external care.
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9.2.12.G.9
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Explain how to self-insure and how to determine when self-insurance is appropriate.
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9.2.12.G.10
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Determine when and why it may be appropriate for the government to provide insurance coverage, rather than private industry.
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