BBB Serving the Fall Line Corridor Education Foundation, Inc. F.L.A.M.E. Impacting Standards
Upon review of the Georgia Department of Education's Finance Career Cluster Financial Literacy (course number 07.42600) course standards, BBB's F.L.A.M.E. will address, if not satisfy the following standards.
Course Standard 1
FIN-FL-1.4 - Model work readiness traits required for success in the workplace including integrity, honesty, accountability, punctuality, time management, and respect for diversity.
- Behaving Appropriately, Making Truthfulness a Habit, Establishing Credibility, Maintaining Honesty, Behaviors Employers Expect, Avoiding Gossip, Showing Responsibility, and Objectionable Behaviors
Course Standard 2
FIN-FL-2 - Identify various forms of income and analyze and evaluate factors that affect income as a part of the career decision-making process.
2.1 Describe the basic characteristics of the marketplace and the free enterprise system.
2.2 Explain trends in the workplace (e.g., flexible schedules, job rotation, job sharing, permanent part-time employment, contract work).
2.3 Identify sources of income.
2.4 Analyze how career choice, education, skills, and economic conditions affect income.
2.5 Explain the return on investment of the time and cost associated with the education, training, and skill development of a desired career choice.
2.6 Compute gross pay, payroll deductions and net pay.
2.8 Identify optional and required employee benefits and recognize the value in addition to net pay.
2.9 Apply fractions, percent, and ratios to solve problems related to income.
2.10 Explore the applications of ratios, proportions, and percent in financial situations.
2.12 Use data displays (graphs and charts) to recognize and interpret income.
Course Standard 4
FIN-FL-4 - Develop and evaluate a spending and savings plan while applying rational decision making to personal spending and saving choices.
4.1 Explain how limited personal financial resources affect the choices people make.
4.2 Identify the opportunity cost of financial decisions.
4.3 Discuss the importance of taking responsibility for personal financial decisions.
4.4 Apply a decision-making process to personal financial choices.
4.5 Explain how inflation affects spending and investing decisions.
4.6 Design a plan for earning, spending, saving, and investing.
4.7 Explain how to use money-management tools available from financial institutions.
4.8 Evaluate services provided by financial deposit institutions to transfer funds.
4.9 Explain the concept of net worth.
4.10 Apply fractions, percentages, and ratios to solve problems related to spending and savings.
4.11 Use basic functions to solve and model problems related to spending and savings while applying linear and quadratic functions, as well as applying the greatest integer and piecewise functions.
4.12 Use data displays (graphs and charts) to recognize and interpret spending and savings.
Course Standard 5
FIN-FL-5 - Analyze checking accounts and other banking services and explain how financial institutions channel funds from savers to investors.
5.1 List and explain types of checking accounts and banking services available to customers.
5.2 Identify various ways to deposit and withdraws funds from accounts and verify how to use each method safely (e.g., using a secure network when transmitting pictures of checks for deposit).
5.3 Prepare checks and deposit slips.
5.4 Record transactions in a checkbook register and reconcile bank statements.
5.6 Explain the difference between a debit card and a credit card.
5.7 Apply simple and compound interest formulas.
5.8 Apply fractions, percentages, and ratios to solve problems related to banking.
5.9 Demonstrate using basic functions to solve and model problems related to banking while applying linear and quadratic functions, as well as applying the greatest integer and piecewise functions.
5.10 Analyze the role of banks and other financial institutions.
5.11 Demonstrate using formulas to investigate investments in banking and retirement planning.
Course Standard 6
FIN-FL-6 - Analyze factors that affect the choice of credit, the cost of credit, and the legal aspects of using credit.
6.1 Compare the advantages and disadvantages of different payment methods and understand the implications of paying minimum balances.
6.6 Identify ways to avoid or correct credit problems.
6.8 Explain how and who uses your credit report.
6.9 Identify the credit-reporting agencies, obtain and review a sample credit report.
6.10 Apply fractions, percentages, and ratios to solve problems related to components of credit scores, while applying percent increase/decrease and ratios/proportions.
6.11 Use data displays (graphs and charts) to recognize and interpret components of credit scores.
Course Standard 7
FIN-FL-7 - Evaluate savings and investment options to meet short- and long-term goals.
7.1 Explain the purpose of financial planning.
7.2 Explain the relationship between saving and investing.
7.3 Describe reasons for saving and investing.
7.5 Identify and describe various retirement accounts (e.g., Roth and Traditional IRAs, 401k, 403b).
7.12 Apply simple and compound interest formulas.
Course Standard 8
FIN-FL-8 - Analyze laws and options available to consumers for protection from deceptive or unfair business practices.
8.1 Identify and explain fraudulent and deceptive business practices.
8.2 Identify and describe wise consumer behavior by classifying benefits and costs of spending decisions, evaluating information about products and services, and using rational decision making model to select one option over another.
8.3 List and describe consumer legislation and sources of consumer protection.
8.5 Explain how consumers can get redress and other ways of finding remedies to consumer problems (e.g. third-party arbitration).
Course Standard 9
FIN-FL-9 - Evaluate how to help deter, detect, and defend against identity theft.
9.2 Describe common ways ID theft happens (e.g. dumpster diving, skimming, phishing, changing address, stealing, computer hacking).
9.3 Describe ways to deter identity theft by safeguarding information (e.g. shredding financial documents, protecting Social Security number, not giving out personal information, using secure networks for on-line banking, and not using obvious passwords).
9.4 Describe ways to detect suspicious activity by routinely monitoring accounts (e.g. reviewing credit reports, on-line balances, and monthly statements).
9.5 Describe ways to defend against ID theft as soon as theft is suspected (e.g., placing fraud alerts on credit reports, closing accounts, filing police reports, and reporting to the Federal Trade Commission).
Course Standard 10
FIN-FL-10 - Evaluate various consumer loan options and analyze factors that affect lending decisions.
10.1 Describe auto, student and home loans.
10.2 Explain interest rates and what affects interest rates.
10.3 Explain the components of the loan payment (principle, interest and time) and demonstrate reading an amortization table.
10.4 Explain loan payment terms and pre-payment penalties.
10.5 Identify the difference in loans for new versus used cars.
10.6 Explain how credit scores affect the rate and terms of the loan.
10.7 Explain private mortgage insurance and identify requirements by the lender.
10.8 Apply future and present value formulas.
10.9 Apply fractions, percentages, and ratios to solve problems related to investing.
10.10 Demonstrate using basic functions to solve and model problems related to investing while applying linear and quadratic functions, as well as applying greatest integer and piecewise functions.
10.11 Demonstrate an understanding of matrices to represent data and solve banking and retirement planning problems.
Course Standard 11
FIN-FL-11 - Explain the principles of risk management and insurance as a strategy to protect against financial loss.
11.2 Explain how risk is transferred through insurance.
11.3 Define insurability and explain why rates vary.
11.6 Identify and cite reasons for policy cancellation.
11.7 Evaluate different types of automobile insurance coverage, including riders and endorsements.
11.8 Describe coverage common to most homeowners and renters’ policies and explain how the amount of coverage needed is determined.
11.10 Identify and describe basic types of coverage and features offered by health insurance companies.
11.11 Define the responsibility of the insured for co-pay, deductible, and non-covered medical expenses
11.15 Explain the role of Social Security in providing disability benefits.
Course Standard 12
FIN-FL-12 - Explore how related student organizations are integral parts of career and technology education courses through leadership development, school and community service projects, entrepreneurship development, and competitive events.
12.2 Explore the impact and opportunities a student organization (FBLA) can develop to bring business and education together in a positive working relationship through innovative leadership and career development programs.
IMPACTING STANDARDS CONT.
Upon review of the National Education Technology Standards, BBB's F.L.A.M.E. will address, if not satisfy the following standards.
2. Communication and Collaboration
Students use digital media and environments to communicate and work collaboratively, including at a distance, to support individual learning and contribute to the learning of others.
a. Interact, collaborate, and publish with peers, experts, or others employing a variety of digital environments and media
3. Research and Information Fluency
Students apply digital tools to gather, evaluate, and use information. a. Plan strategies to guide inquiry
b. Locate, organize, analyze, evaluate, synthesize, and ethically use information from a variety of sources and media
c. Evaluate and select information sources and digital tools based on the appropriateness to specific tasks d. Process data and report results
4. Critical Thinking, Problem Solving, and Decision Making
Students use critical thinking skills to plan and conduct research, manage projects, solve problems, and make informed decisions using appropriate digital tools and resources.
a. Identify and define authentic problems and significant questions for investigation
b. Plan and manage activities to develop a solution or complete a project
c. Collect and analyze data to identify solutions and/or make informed decisions
d. Use multiple processes and diverse perspectives to explore alternative solutions