Standards for Managing Risk
National Standards in Financial Literacy
Name: Managing Risk
- Students will understand that: People are exposed to personal risks that can result in lost income, assets, health, life, or identity. They can choose to manage those risks by accepting, reducing, or transferring them to others. When people transfer risk by buying insurance, they pay money now in return for the insurer covering some or all financial losses that may occur in the future. Common types of insurance include health insurance, life insurance, and homeowner’s or renter’s insurance. The cost of insurance is related to the size of the potential loss, the likelihood that the loss event will happen, and the risk characteristics of the asset or person being insured. Identity theft is a growing concern for consumers and business. Stolen personal information can result in financial losses and fraudulent credit charges. The risk of identity theft can be minimized by carefully guarding personal financial information.
Common Core State Standards
Name: Anchor Standards for Language
Name: Anchor Standards for Writing
Standard: College and Career Readiness Anchor Standards for Reading
Area: College and Career Readiness Anchor Standards for Reading
- Read and comprehend complex literary and informational texts independently and proficiently.
Standard: History/Social Studies -- Grade 9-10
Area: History/Social Studies -- Grade 9-10
- Determine the meaning of words and phrases as they are used in a text, including vocabulary describing political, social, or economic aspects of history/social science.