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Financial Literacy, 2nd Quarter

00.0 Start Here - Welcome to Financial Literacy

Course Description

The .5 credit General Financial Literacy Core is designed for junior and senior students and represents those standards of learning that are essential for all students. The implementation of the ideas, concepts, knowledge, and skills contained in the General Financial Literacy Core enable students to become wise and knowledgeable consumers, savers, investors, users of credit, money managers, citizens, and members of a global workforce and society.

CLASS RULES and INSTRUCTIONS

1. Please read all the "Start Here" instructions below to carefully review all class rules and procedures which apply to both 1st and 2nd quarter classes.

2. The first assignment you submit will be the "About Me" assignment.  To begin your first assignment, scroll down to the "About Me" assignment at the bottom of this page and use the instructions there to complete and submit your assignment. Assignments submitted via email will not be accepted.

3. How to complete all subsequent lessons AFTER the "about me" lesson: Lessons are in Module 3, on the left side of the list (out-dented left). Click the desired lesson and carefully follow all instructions. To submit the assignment, copy and paste the assignment instructions (everything between the two lines of asterisks) into a word processing document, answer the questions, and save your work so you will have your own copy of your assignment if anything gets lost.

4. How to SUBMIT assignments into the answer box: After saving a personal copy of your assignment, it is then submitted by clicking the corresponding indented assignment below the lesson name. It requires copying and pasting both the questions and your answers into the answer box. The copied information includes EVERYTHING between two lines of asterisks, including the assignment number and the questions. All answers must be bold (OR UPPER CASE if you are unable to make them bold). MAKE SURE YOU HIT RETURN AFTER EACH COMPLETED ANSWER. Then Save your work according to the instructions.

A correctly formatted assignment is shown below. Note each assignment includes the (1) assignment number, (2) the questions, and (3) the answers immediately following each question.

SAMPLE ASSIGNMENT WITH ANSWERS

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ASSIGNMENT 6.2 - (17K) Copy everything between the asterisks.)
1. Q: Can students use any word processor they want? > ANSWER: Yes - copy and paste from any word processor you prefer.
2. Q: Why should you read returned assignments?> ANSWER: To see your grades and any instructions.
3. Q: Must you write complete sentences?> ANSWER: No--but the answer and question together must form a complete thought like this question does.
4. Q: Do the answers have to be in bold> ANSWER: YES (OR in UPPER CASE if you can't get bold to work).
5. Q: (6.2): When the last question in an assignment says: Write your last and first names and today's date, what should you write?:>ANSWER: example: Susan Carr July 8, 2010 (with your own name) NOTE: Remember your answers must appear in bold or UPPER CASE in your assignments.

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5. How to SUBMIT QUIZZES:

On the front page of the class, use the indented assignment link that matches the lesson you are working on. Follow the instructions and take the quiz online by selecting the proper answers. Save the quiz and exit.

How to SUBMIT TESTS:

Procedures are identical to quizzes.

6. You must follow the EHS HONOR CODE: "As a student of the Electronic High School, I agree to turn in my assignments in a timely manner, do my own work, not share my work with others, and treat all students, teachers and staff with respect."

7.  You have TEN WEEKS to complete this class.

image from Wikimedia Commons,Open Clip Art Library, public domainimage from Wikimedia Commons,Open Clip Art Library, public domain

 

PREREQUISITES

You need to take Financial Literacy Quarter One before you take Financial Literacy Quarter Two.

HOW YOUR WORK IS GRADED:

The meaning of Assignment grades:
"10": Enough was correct to receive full credit.
"5": Too much was incorrect. You have partial credit. You MAY resubmit the assignment, but it is not required.
"0": The assignment did not meet minimum expectations. Resubmit the entire assignment with correct answers.
 

Your grade becomes final after the proctored test, and there is no opportunity to raise your grade after that. If high grades are important to you, remember--you can retake all tests and quizzes and resubmit assignments as many times as you like. The opportunity to resubmit work is lost after the proctored test is complete. Good luck.

IMPORTANT INFORMATION that improves success and raises your grade:
1) Submit work each week.
2) Retake any test if you score less than 60%.
3) Retake tests as often as you like to improve grades or study.
4) Read all returned assignments to find out if your assignments were accepted or if further work is necessary.
5) If a website doesn’t work, submit the assignment anyway, using other sites, asking people, etc. Inform me of the problem.
6) Remember that this class requires two quarters to complete to meet the state .5 credit requirement.
7) Per quarter, you have 7 weeks to complete the assignments, quizzes and unit tests. Then the 8th week, after I have graded everything you submitted the 7th week, you will need to submit the READY message. Take the final the 9th week and I will submit your grade the 10th week.  You will automatically be dropped from the course after TEN weeks.

FINAL PROCTORED EXAM

The proctored final test must be taken with an EHS-certified proctor, who will enter the test password. You must score at least 60% to pass. If you do not, please inform your teacher immediately. 

You may use both sides of a 4X5 note card on the proctored test.

First Quarter:  There are 50 Questions. Your final is weighted 25% of your grade.

Second Quarter:  There are 50 Questions, and the test includes questions from quarter one.  Your final is weighted 36% of your grade.

FINAL GRADE SCALE

(“C-” is the lowest grade given in this class)
"A" begins at 95% of total points.
"A-" Begins at 90% of total points.
"B+" begins at 85% of total points.
"B" begins at 80% of total points.
"B-" Begins at 75% of total points.
"C+" begins at 70% of total points.
"C" begins at 65% of total points and extends to 55% of total points.

00.00 ABOUT ME

teacher-scored 1 points possible 20 minutes

About Me Assignment: To complete and submit this assignment correctly copy the material between the asterisks into a blank word-processing document; then, answer the questions using complete sentences, appropriate punctuation and sentence structure. All answers must be in either bold type or UPPER CASE lettering. Save the document. Finally, select all, copy, then paste the entire document into the box that opens when you click to submit this assignment.

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1.What high school do you attend?

2.What grade are you in?

3.What is your EHS username? 

4.What is your email address? 

5.What is a good phone number to reach you? 

6.Why did you choose to take this class online? 

7.What do you think will be the most challenging for you in this class? 

8.What is one academic goal you have for this class? 

9.What is one personal goal you have for this class? 

10.How will this course be beneficial to you?. 

11.What do you think the teacher's role should be in an online class? 

12.What responsibilities do you have, as a student in this class? 

By submitting this assignment you agree to keep the EHS Honor Code, as follows:  

"As a student of the Electronic High School, I agree to turn in my assignments in a timely manner, do my own work, not share my work with others, and treat all students, teachers and staff with respect."

        I also understand that:

       I HAVE TEN WEEKS TO COMPLETE THIS QUARTER OF FINANCIAL LITERACY.

 

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Pacing: complete this by the end of Week 1 of your enrollment date for this class.


00.000 About Me Quiz

teacher-scored 10 points possible 20 minutes

About Me Quiz: To complete and submit this assignment correctly copy the material between the asterisks into a blank word-processing document; then, answer the questions using complete sentences, appropriate punctuation and sentence structure. All answers must be in either bold type or UPPER CASE lettering. Save the document. Finally, select all, copy, then paste the entire document into the box that opens when you click to submit this assignment.

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00.000 ABOUT ME QUIZ  (copy everything that lies between the asterisks) 16(E)

1. Q: Explain why asterisks are included in every assignment and why you should either bold type or capitalize your answers?

    A: 

2. Q: Explain how your assignments will be graded, and how a final grade is assigned, for this course. ( e.g. what percentage is needed for an A? how are points allocated for assignments?)

    A:

3. Q: Name two methods you can use to contact the teacher of this course.

    A:

4. Q: How long is the course?

    A:

5. Q: Can you submit your READY statement the day you have arranged to take the final exam? Why or why not?

    A: 

6. Q: Write your first and last name and today's date.

    A:

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Pacing: complete this by the end of Week 1 of your enrollment date for this class.


00.01 Meet Tiff and Cameron (Financial Literacy)

INTRODUCTION: WILL YOUR FINANCES BE LIKE TIFF'S AND CAMERON'S?
Read this introduction and view the video link below.

After graduating from high school, Tiff worked at a convenience store and studied public relations in college. Cameron entered a computer-training program at an Applied Technology Center and worked 30 hours a week at a computer repair shop.

Within two years, Tiff and Cameron met, dated, and married. Tiff “temporarily” quit college to work full-time at a convenience store. Cameron left the computer-training program to work at a plumbing company. He didn't enjoy it as much but pay was much higher though he gave up health insurance. Together, Tiff and Cameron earned a total of $30,000 per year. They rented an apartment, supported themselves, and tried to deposit “left over” money into home savings.

Within two years, Tiff had a baby and temporarily quit her job. She returned to work after arranging child-care for $1,500 per year.

Tiff and Cameron needed a second car, so they borrowed money and used “home” savings to lower the amount of their car loan. After using credit cards to purchase appliances, tools, stereo equipment and a vacation, they owed $3,000 on credit cards. Their fourth year of marriage brought a second child. The same year, a car accident put Cameron out of work for two months. Since they had no health insurance or emergency savings, Tiff and Cameron again used credit cards until Cameron went back to work. They then owed $7,000 on credit cards, $4,000 in medical bills, and $11,000 on their car loan.

Some monthly expenses included rent, car payments and insurance, utilities, childcare, Internet, cable TV, credit card payments, food, clothes, cell phone, car repairs and medical bills. They were only able to make the minimum credit card payments.

When the convenience store closed, Tiff obtained a job at a different convenience store that paid the same. Cameron's employer offered a retirement plan where the company agreed to match Cameron's contributions, but Tiff and Cameron did not participate since it reduced take-home pay too much to pay bills.

Tiff and Cameron didn't balance checkbooks regularly and sometimes paid $30 “bounced check’ fees. This lowered their credit rating and resulted in higher loan payments. Their credit rating became worse when someone filled out and submitted one of Cameron's discarded credit card applications.

Finances improved slightly when Cameron took a second job. However, extra gas, new work clothes, payroll taxes, and rising prices reduced income more than expected. Tiff and Cameron met some financial needs by selling personal items. They also received some money from parents.

In their mid-twenties, Tiff and Cameron realized life was different than they had planned. Both wanted better jobs, but more education was expensive and too time- consuming. They still lived in an apartment, had no down-payment for a house, no emergency funds, no health or life insurance, no retirement savings, and they owed more on their first car than it was worth. Debt created stress. They wished to have greater savings for emergencies, retirement, vacations, and family activities, but they needed all their money just to live from day to day.

Tiff's and Cameron's finances are like thousands of young people today, but hopefully not like yours will be. In this class you will examine five financial principles that will help you NOT be like Tiff and Cameron. The principles are:

FIRST QUARTER:
1) EARN - Raise your income capacity and earnings through education and experience.
2) SAVE - Pay yourself first through saving before spending on other things.
3) SPEND - Establish good spending habits with checking, credit cards, and loans.

SECOND QUARTER
4) PROTECT - Reduce financial risks through insurance and consumer awareness.
5) PLAN - Create overall plans for short-term and long-term financial success.

00.01 Meet Tiff and Cameron (Financial Literacy)

NOTE: This video can take from 3 to 12 minutes to load. I suggest you go ahead and try it, but feel free to open another screen and work on the next activity while it is loading. The video makes the class more interesting but does not contain critical information. Your computer needs to have QuickTime installed to view this video. To view it, click the link then click the play button.

00.01.01 Student Software Needs

 

Students need access to a robust internet connection and a modern web browser.

This class may also require the Apple QuickTime plug-in to view media.

For students using a school-issued Chromebook, ask your technical support folks to download the QuickTime plug-in and enable the plug-in for your Chromebook.

$0.00

04.00 Protecting (Financial Literacy)

PROTECTING - Reduce your financial risks through consumer awareness.

"QUICK! DOWNLOAD YOUR FREE COPY OF THE PAMPHLET "PROTECT AGAINST ON-LINE FRAUD!" (Remit $25 to cover shipping charges.)

The world is full of fraudulent messages like the "Free Download" offer above, that unfortunately takes away your money with nothing in return. The lessons in Unit 4 are about how you can reduce such financial risks and protect yourself.

NOTE: This video can take from 3 to 12 minutes to load. I suggest you go ahead and try it, but feel free to open another screen and work on the next activity while it is loading. The video makes the class more interesting but does not contain citical information. Your computer needs to have QuickTime installed to view this video. To view it,click the link, then click the play button.

04.01 Risk Management (Financial Literacy)

Describe how insurance and other risk-management strategies protect against financial loss and minimizes the consequences of being under-insured.

Got tornado or wind insurance?: NOAA image, public domainGot tornado or wind insurance?: NOAA image, public domain General instructions If you have not yet read the "Start Here" instructions on the main course webpage, please go back and read them now before continuing. Then return to this point and read the instructions below.

• Read the “BACKGROUND” information.

• Visit any URL(s) you see at the bottom of the assignment and follow their instructions.

• Submit the assignment or quiz.

1. For ASSIGNMENTS: Copy all information between the asterisks (including lesson number, revision date, and questions). Go to “Assignments, Quizzes, and Tests,” paste the questions into the answer box after clicking on 'Edit my submission," answer the questions with bold or upper case answers and save them according to the instructions.

2. For QUIZZES: Go to Assignments, Quizzes, and Tests” to take the quiz.

3. You have 7 weeks to complete the assignments, quizzes and unit tests. Then the 8th week, after I have graded everything you submitted the 7th week, you will need to submit the READY message. Take the final the 9th week and I will submit your grade the 10th week.

BACKGROUND “Risk management” includes many things. In this assignment, many of the examples relate to driving. Visit the "Insurance" URL#1 shown below to review only the section entitled, “Risk Management," on the Money Management page by following the arrows at the bottom of each page until you reach the “Detour” sign. You will learn about insurance in general and a little more in-depth about car insurance which is a required insurance in Utah. Also read the link entitled, “greater risk of having an accident,“ which is in one of the links in the same section. You may skip other links on the pages.

This lesson has no assignment, only a quiz. Please go back to the main course web page and then to “Assignments, Quizzes, and Tests” in section 3. Click 4.01 assignment quiz to take the quiz. 04.01 Risk Management links (Financial literacy) (See Link to "Insurance")

04.01 Risk Management links (Financial literacy)

04.01 Risk Management quiz (Financial Literacy)

computer-scored 10 points possible 15 minutes

 

Risk Management is described as: The identification, analysis, assessment, control, and avoidance, minimization, or elimination of unacceptable risks. An organization may use risk assumption, risk avoidance, risk retention, risk transfer, or any other strategy (or combination of strategies) in proper management of future events. This Quiz will cover many aspects of Risk Management. Read the material in the following url's and answer the quiz questions using this material. Take notes as you read so you can have a resource, not just for this quiz but for your final review and for the proctored final. All quizzes in this course will follow the same pattern as that established in this first quiz.

 

 

 

 

This quiz is multiple choice. Choose the most correct answer. You must score 80% to pass this quiz. You may take the quiz multiple times, but the first time you take it please take it without the help of notes or other materials, so you can properly quiz your understanding of the material. You may take notes from the quiz to help you prepare for the final exam.

 

 

Pacing: complete this by the end of Week 1 of your enrollment date for this class.


04.02 Types of Insurance (Financial Literacy)

Identify common types of insurance and how they protect against financial loss.

You may not risk being shot down by enemy fire, but you could still be accidentally injured.: DOD image, public domainYou may not risk being shot down by enemy fire, but you could still be accidentally injured.: DOD image, public domain BACKGROUND

There are many kinds of insurance. This assignment helps you learn the difference between several kinds of insurance.

Visit URL #1 to learn about insurance. You do not need to follow any of the sidebar links, only the arrows at the bottom of each page. Visit URL #2 to read the short page about disability insurance.

04.02 Types of Insurance (Financial literacy)

teacher-scored 10 points possible 20 minutes

****************************************(COPY EVERYTHING BETWEEN THE ASTERISKS.)

ASSIGNMENT 04.02 (13E)

1) Q: Visit this site http://www.about-disability-insurance.com/. According to this url, what is your most important asset and how does disability insurance protect it?   ANSWER: 

2) Q: The website says homeowners insurance covers the home and its belongings. What does renters insurance cover?> ANSWER:

3) Q: People can reduce risk by purchasing insurance, but there are other ways to reduce risk, like obeying the law, locking cars and houses, etc. List one other way YOU might reduce risk in addition to purchasing insurance? (answer not on web page)>ANSWER:

4) Q: The risk of losing your cell phone is greater than the risk of your house burning down. Why then, is it better to insure your home than your cell phone despite the increased likelihood of losing a phone? > ANSWER:

5) Q: What are the four common types of insurance listed in URL #1?

6) Q: (4.2): Write your first and last name and today's date.> ANSWER:

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Bolding Instructions: There are at least two ways to make answers bold: ONE: Paste questions AND answers into answer box then, before saving, notice commands INSIDE the answer box at the top. You will see “B” (for bold) next to I (for italics), U (for underline) etc. There is even a letter “T” on the second row that lets you change the color of the answer. You may use the “B” (bold), “U” (underline) or change the color of the answer you hi-light to receive full credit. OR SECOND: Paste questions into the submission box BEFORE inputting answers. Then push “Ctrl B” button (Control key + B) before you enter your answer. This places everything you type thereafter in bold. Also, upper case is accepted though not preferred.

Pacing: complete this by the end of Week 1 of your enrollment date for this class.


04.02 Types of Insurance links (Financial Literacy)

04.03 Insurance Terms and Conditions (Financial Literacy)

Identify common types of insurance, how they protect against financial loss, and understand related terminology.

Kpahor image, CC Attribution-Share Alike 3.0 UnportedKpahor image, CC Attribution-Share Alike 3.0 Unported BACKGROUND

There are many types of insurance with different terms and conditions applying to them. This assignment will help you understand a few common insurance terms that apply to many kinds of insurance, by looking at car insurance.

Visit URL #1 to read all information until the Detour sign (not sidebar links, however), and then visit URL #2.  

Then complete the Quiz 04.03.  

04.03 Insurance Terms and Conditions (Financial Lliteracy)

computer-scored 10 points possible 20 minutes

You will now complete a 10-question online quiz. You MUST score at least 8 to receive credit for the assignment but don't worry if you don't get at least 8 the first time since you can retake the quiz as many times as you need. Only your last quiz attempt counts. You may continue to increase your score if you want (7 or less = try again, 8 = B, 9 or 10 = A).

Pacing: complete this by the end of Week 1 of your enrollment date for this class.


04.03 Insurance Terms and Conditions links (Financial literacy)

04.04 Life Insurance Basics (Financial Literacy)

Identify common types of Life insurance and some of its terminology (e.g., term, and whole life). Describe how it protects against financial loss.

What insurance do you need once you are a parent?: Libby A. Baker image, CC Attribution-Share Alike 2.0 GenericWhat insurance do you need once you are a parent?: Libby A. Baker image, CC Attribution-Share Alike 2.0 Generic

BACKGROUND

Young people don't typically need life insurance since they seldom have dependents. Unless you have dependents, You probably don't need life insurance, even though someone may try to sell it to you. Nonetheless, the large majority of people,including you, WILL eventually need life insurance. This assignment helps you understand important concepts governing the need for life insurance.

Visit URL #1 to read information to help you answer the questions.

04.04 Life Insurance Basics (Financial Literacy)

teacher-scored 10 points possible 20 minutes

****************************************(COPY EVERYTHING BETWEEN THE ASTERISK.)

ASSIGNMENT 04.04 (13E)

1) Q: Whole Life Insurance is much more expensive to purchase than Term Insurance because it has a savings component; Term Life does not have a savings component.  The reserve, or cash value that builds in a Whole Life Insurance policy is the result of the insurance company taking a portion of the Whole LIfe Insurance premium and investing it on your behalf.  Would a Whole Life Insurance policy be considered an example of a long-term saving tool, or a short-term saving tool? Why? ANSWER:

2) Q: Who is more apt to need more life insurance, a 30-year-old in good health with three young children or a 68-year old person with heart problems but no dependants? Why? (The answer is not explicitly on the web site but the website will help.) > ANSWER (who & why):

3) Q: Life insurance sales people may say life insurance is much cheaper for someone your age (which is true). From the website, explain why you probably have no need for life insurance at all at your age: > ANSWER:

4) Q: If you choose to purchase Term Insurance instead of Whole Life Insurance what is an example of a long term savings tool that will give you similar results as Whole Insurance? (HINT: No other form of insurance has a savings component like Whole Life so the answer to this question is not going to be another form of life insurance...it will be another form of a long term saving tool/method.)> ANSWER

5)  Q:  From the URL, who can you list as your beneficiary (there are 3 answers)? > ANSWER:  

6) Q: (04.04): Write your first and last name and today's date.> ANSWER:

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Pacing: complete this by the end of Week 2 of your enrollment date for this class.


04.04 Life Insurance Basics links (Financial Literacy)

 

 

04.05 Auto Insurance Basics (Financial Literacy)

Identify things to consider in purchasing car insurance and understand related terminology.

Image from Wikimedia Commons, Rebekah Ho, CC Attribution-Share Alike 3.0 UnportedImage from Wikimedia Commons, Rebekah Ho, CC Attribution-Share Alike 3.0 Unported

BACKGROUND

For many young people, automobile insurance is one of the first insurance products they deal with. It can be a very expensive item.

This assignment helps you learn ways to purchase and use auto insurance wisely. Americans waste billions of dollars each year simply because they do not ask for insurance discounts such as driving less than the average number of miles per year, taking defensive driving classes, having certain safety or protective equipment installed in your car like anti-lock brakes or security systems, and many other discounts. Also, one of the best places to begin looking for insurance is to examine the policy you have been on in the past--like your parents' policy. Your parents' insurance company likely already has all your information and can give you a quote easily that you can compare with other quotes.

Visit each of the URLs 1-3 below to read the entire web page carefully and use it along with the information above to answer the questions in the online quiz:

This lesson has a quiz instead of an assignment. After you have reviewed these sites, please proceed to the “Assignments, Quizzes, and Tests” section. As usual, you must score at least 8 on the quiz. Repeat if necessary. Feel free to ask other adults or consult other websites using Google if you have trouble with any of the questions.

04.05 Auto Insurance Basics links (Financial Literacy)

04.05 Auto Insurance Basics quiz (Financial Literacy)

computer-scored 10 points possible 10 minutes

You must score 8 or higher on this quiz to continue. If your score is lower, simply re-take the quiz as many times as you need after reviewing the material.

Pacing: complete this by the end of Week 2 of your enrollment date for this class.


04.06 More Car Insurance (Financial Literacy)

Identify more things to consider in purchasing car insurance and understand related terminology.

This isn't the kind of car wash you need for your ride: Andrew Smith, CC-BY-SA-2.0, via Wikimedia CommonsThis isn't the kind of car wash you need for your ride: Andrew Smith, CC-BY-SA-2.0, via Wikimedia Commons BACKGROUND

Now that you know a few more things about insurance, we will consider insurance rates and insurance requirements for cars in Utah. The government does not require that you be insured against all risks. They DO require car insurance. Car insurance is also required by those who loan the money to buy car because they want to minimize their risks. They want to make sure they get their money back. Lets consider a few things about auto insurance.

Visit URL #1. Skip the “Compare Quotes Instantly” section and scroll down to “Utah Car Insurance Laws” to find out what car insurance is required in Utah. You may stop reading when you reach the section entitled “Where to get Utah auto insurance quotes.” Again, ignore the “sidebar” insurance advertisements and other price quote links. Then exit the web page and go to the next URL. Visit URL #2 to learn more about "no-fault" insurance and "minimum liabilty rates."  Visit URL #3 to learn how to lower car insurance rates. Read the suggestions for lowering a young driver's car insurance rates. 

04.06 More Car Insurance (Financial Literacy)

computer-scored 10 points possible 30 minutes

Take the Setting Priorities quiz. You must score 8 or higher on this quiz to continue. If your score is lower, simply re-take the quiz as many times as you need after reviewing the material.

Pacing: complete this by the end of Week 2 of your enrollment date for this class.


04.06 More Car Insurance links (Financial Literacy)

04.07 Consumer Protection (Financial Literacy)

Describe ways to avoid "Identity Theft" and fraud.

Anecdoteak image, CC Attribution-Share Alike 3.0 UnportedAnecdoteak image, CC Attribution-Share Alike 3.0 Unported

BACKGROUND

Risk management is not only about insurance. It includes acting safely to minimize risk AND knowing your rights that protect you from unfair practices. The following assignment helps you understand some of your rights related to credit and borrowing. These are handy things to know.

Visit URL #1 to read the section on consumer rights from the Federal Trade Commission. Then, exit the web page and move to the next activity.

ACTIVITY 2: Read the information below posted with the permission of the City of Eugene Police Department to answer the questions 3-4 at the bottom.

  1. Article I. Common Scams and Fraud
    • If it sounds too good to be true, it probably isn't true. Swindlers and con artists can be very well dressed, flattering, and persuasive. They will say or promise anything to get your money.
    • Always check identification of strangers.
    • Independently verify with their company or agency that they are legitimate.
    • Contact the company using your phone book, not some number they hand you.
    • Trust your skepticism, particularly if you are approached with one of the following propositions.

  2. “Free” Prize Offerings
    • You are offered a “free” prize, but to claim it, you must provide a “deposit” or credit card number, or buy something, or attend a high-pressure sales presentation. Generally the prize, if there is one, has little or no value.

  3. Bogus Travel Packages
    • “Free” or unbelievably cheap vacations may be an outright swindle, or include massive hidden costs (one-way airfare, etc.). The total cost may be twice what you were led to believe. Always book with a reputable company.

  4. Investment Swindles
    • A “get rich quick” scheme promises high returns with little or no risk. Typically it will feature some “inside” deal on some exotic commodity such as gemstones, rare coins, oil and gas leases, precious metals, or art. The only ones who will get rich quick here are the swindlers, on your money.

  5. Fake Charities
    • In this scam, con artists claiming to represent a reputable-sounding charity ask you for a donation, typically by phone. You should verify any charity that asks you for money. Ask them to send a brochure, and then wait until you to check them out through a watchdog group such as the American Institute of Philanthropy or the Better Business Bureau's Wise Giving Alliance. If they refuse or try to pressure you for an immediate donation, you're dealing with a scam.

  6. Home Improvement Scams
    • If you have costly work done on your home, stick to local, licensed contractors whom you can verify. Any one who comes to your door offering to perform work should be checked out very thoroughly. There are groups of traveling con artists who have made home-repair scams a traditional livelihood. For example, they offer to resurface your driveway, but you end up with a very expensive coat of used motor oil. Or they say you need to be checked for termites because your neighbor has them. They’ll report that you’ve got a bad infestation and charge you thousands of dollars--and then burglarize your home after you leave for the “fumigation”!

  7. Dating Service Scams
    • Scammers sell you bogus dating or membership services.

  8. Bank Related Scams
    • The classic “Bank Examiner” scam involves getting you to help catch a “bad” bank teller by pulling out your savings to see if he/she is honest. When you hand your money over to the con artist, you never see him or your money again.

  9. Postal Scams and Theft
    • Read the fine print! Chain letters, fake magazine subscriptions, unordered goods and other scams arrive in mailboxes every day. And use a secure mailbox. Checks, DEBIT cards, and credit cards may be stolen out of your mailbox or cars, to be cashed or used in identity theft.

  10. Vitamins, Health Products, Miracle Cures, Psychic or Long-Distance Healing
    • The sales pitch also may include a prize offer. Too often, these are worthless scams.

  11. Phone Fraud
    • Telephone con artists spend a lot of time polishing their lines to get you to part with your money. If you hear any of the following, consider it a warning sign:
      1. You must act now or the offer won’t be good.
      2. You’ve won a free a “free” gift, vacation or prize. But you must pay a deposit or “postage and handling” or other charges.
      3. You must send money, give a credit car or bank account number or have a check picked up by courier before you’ve had a chance to consider the offer carefully.
      4. You don’t need to check out the company with anyone including your family, lawyer, accountant, local BBB or consumer protection agency.
      5. You don’t need any written information about their company or their references.
      6. You can’t afford to miss this “high profit,” no-risk offer.

  12. Long Distance Charge Scams
    • Another type of phone fraud tricks you into running up hidden long-distance phone costs. You might see an advertisement for a “work at home” scheme or a too-good-to-be-true opportunity. A similar scam leaves a mysterious message on your answering machine saying that a relative was critically injured and that you should call the “hospital” at a particular phone number. When you call you are placed on hold, listening to canned music or messages while your bill rises. The most sophisticated versions re-route a 1-800 number to a toll number without your knowing it. To keep you on the line, an attendant will occasionally pick up the line, clarify whom you were calling for, and then put you back on hold.

  13. Deceased Relatives
    • Some con artists read the obituaries, then follow up with a call or visit to survivors. They reveal that the deceased had been paying for a thoughtful gift for the survivor -- and there's only another $50 or so due.

  14. Hearing Aid Scams
    • Hearing aids are too costly to buy without checking with your doctor. Never buy door-to-door. Make sure the quoted price includes everything, including the ear mold. Check for a comprehensive guarantee, and ask for written instructions for use and care. Hearing aid contracts can be cancelled within seven days.

  15. High-Pressure Sales Tactics
    • Whenever you make a purchase in your home totaling $25 or more, the salesperson must give you a written contract and two Notice of Cancellation Forms. You have three days to change your mind and use those forms to cancel your contract.

  16. Recovery Scams
    • Victims of a swindle are often embarrassed and try to hide or cover up their losses. This leaves them vulnerable when approached by someone who claims they can get the money back--who swindle them again! Be careful not to lose more money in this common practice.

04.07 Consumer Protection (Financial Literacy)

teacher-scored 10 points possible 25 minutes

Assignment for lesson 04.07: This assignment is different from others because EHS requires one writing assignment in each quarter course. In this assignment you will write on one of the scams 2-16 (not #1) listed above by the City of Eugene Police Department. This is not an essay but each question must be a paragraph long and have a minimum of 3-5 sentences.

Grading Criteria:

1. Your submission must have 450-550 words (this includes the questions and your answers, ONLY; not any instructions) Note: Visit "wordcounter.net" if you don't have a word counter.

2. Paragraphs must be complete with correct spelling, grammar and punctuation. Each paragraph must have a main idea, and a minimum of one supporting idea, and one supporting detail, for each question you are answering (this does not include your answer to the request to name the scam you are going to be talking about - this can be a one word answer, if necessary). 

3. Quotations are not required; but any direct quotes should be cited if you use them.

4. Writing must be ORIGINAL, thoughtful, and accurate.

To begin: Copy the outline shown below between the lines of asterisks into a word processing document. Respond to each of the five parts. A spellchecker and word-counter may be used. When finished, copy the assignment into the answer box and submit like all previous assignments.

****************************************(COPY EVERYTHING BETWEEN THE ASTERISKS.)*********************************

ASSIGNMENT 04.07 (13E)

REMINDER: When this assignment is submitted, you must have 450-500 words between the lines of asterisks to receive a passing score. Simply respond to each question below as usual. 

Identify the scam you will write about. Response:

1) Explain why you chose this scam. Response:

2) Explain how the scam works. Response:

3) Explain what you will do to avoid the scam. Response:

4) Add your thoughts about the following statement: "If it sounds too good to be true, it probably isn't true." Response:

5) Using the "Consumer Rights" URL, find a fact that you find interesting and explain.  Response:

6) Answer the following:
a) How many words (total) are between the lines of asterisks (questions and answers)? REMEMBER (450-550 words required):
b) Has submission been spellchecked, and thoughtfully revised as necessary? Answer:
c) Write your first and last name and today's date. Answer:

****************************************

Pacing: complete this by the end of Week 3 of your enrollment date for this class.


04.07 Consumer Protection links (Financial Literacy)

04.08 Identity Theft (Financial Literacy)

Identify means of Identity Theft and describe ways to avoid "Identity Theft" and fraud (e.g., keep Social Security numbers secure; properly dispose of outdated documents, etc).

Adaiyaalam image, CC Attribution-Share Alike 3.0 UnportedAdaiyaalam image, CC Attribution-Share Alike 3.0 Unported BACKGROUND

About 400,000 people per year are victims of identify theft. Cameron was one. Identity theft occurs when one person gathers enough information about another to successfully impersonate them online, by mail, over the telephone, or in person. Examples include stealing another person's social security number, credit card number, and other personal information. This information is then used for the purpose of borrowing money, buying merchandise, or running up debts in the name of the other person. How can you protect against it? Complete the following activities to find out.

Activity: PART A a reading assignment; PART B uses the url attached to this module.

 

A. COMMON WAYS ID THEFT HAPPENS: Skilled identity thieves use a variety of methods to steal your identity, including the following

  1. Dumpster Diving. They rummage through trash looking for bills or other paper with your personal information on it.
  2. Skimming. They steal credit/debit card numbers by using a special storage device when processing your card.
  3. Phishing. They pretend to be financial institutions or companies and send Spam or pop-up messages to get you to reveal your personal information.
  4. Changing Your Address. They divert your billing statements to another location by completing a “change of address” form.
  5. “Old-Fashioned” Stealing. They steal wallets and purses; mail, including bank and credit card statements; pre-approved credit offers; and new checks or tax information. They steal personnel records from their employers, or bribe employees who have access.

B.

Visit URL #1. Click on the following topics on the main page and then click on the ARTICLE tab for each topic; read each article:

*     Checking Account Security

*     Credit Card Fraud

*     Identity Theft Protection

*     If Identity is Stolen

 

This lesson has no assignment, only a quiz. Please proceed to the “Assignments, Quizzes, and Tests” section.

04.08 Identity Theft Lesson Quiz (Financial Literacy)

computer-scored 10 points possible 10 minutes

You must score 8 or higher on this quiz to continue. If your score is lower, simply re-take the quiz as many times as you need after reviewing the material.

Pacing: complete this by the end of Week 3 of your enrollment date for this class.


04.08 Identity Theft links (Financial Literacy)

04.09 Protecting Yourself (Financial Literacy)

Describe ways to avoid financial scams and schemes designed to defraud consumers. Explain how government regulations can protect investors.

By Smedpull (Own work), public domain, via Wikimedia CommonsBy Smedpull (Own work), public domain, via Wikimedia Commons BACKGROUND

Credit Card Companies suggest several things you can do to protect yourself:

  • Guard your trash from theft by shredding documents and receipts. Thieves can build an alternate identity by using the mail you throw away.
  • Don't leave credit cards in glove compartments. Glove compartments account for thousands of credit card thefts.
  • Always check your monthly statements. Criminals will sometimes make a small purchase first, to see if it goes undetected, before making a big one.
  • Notify the post office immediately if you change your address. Mail going to your old address can end up in the wrong hands.

The Internet has also become a new and powerful tool for swindlers using old schemes and new schemes. If you get an e-mail proposing a deal “too good to be true," delete it. Learn more about protecting yourself by completing the following assignment.

ACTIVITY: Visit and read each of the URL's, found at the bottom of the assignment, to help you answer questions 1-5 below.

04.09 Protecting Yourself (Financial Literacy)

teacher-scored 10 points possible 20 minutes

**************************************** (COPY EVERYTHING BETWEEN THE ASTERISKS.)

 

ASSIGNMENT 04.09 (E13)
 

1) List three “warning” signs of telemarketing fraud>

      a) Answer:

     b) Answer:

     c) Answer:

2) Explain how a Ponzi scheme works? Why is this illegal? > Answer:

3) According to the FBI what is another name for "Market Manipulation?" Why do you think this is considered illegal? > Answer:

4) What is “Impersonation/Identify Fraud? > Answer:

     a)List 3 tips to avoid “Impersonation/Identify Fraud”

        1) Answer:

        2) Answer:

        3) Answer:

5) Describe an additional fraud on the site and explain it: Answer:

6) Q: (4.9): Write your first and last name and today's date. Answer:

****************************************

 

Pacing: complete this by the end of Week 3 of your enrollment date for this class.


04.09 Protecting Yourself links (Financial Literacy)

04.10 Contracts (Financial Literacy)

Explain the importance of understanding financial contracts.

Sumerian contract: selling of a field and a house, ca. 2600 BC; contracts have been around for a long time!: Marie-Lan Nguyen image, public domainSumerian contract: selling of a field and a house, ca. 2600 BC; contracts have been around for a long time!: Marie-Lan Nguyen image, public domain

BACKGROUND

People often commit themselves to things they never realized when they sign contracts without understanding them. The following assignment will help you protect yourself against bad contracts.

Visit URL #1 to carefully read the information about contracts, the “cooling off” period, and what your rights and obligations are when you enter into a contract. Remember that whenever you enter into a contract, you should read everything. Understand any related interest rates, penalties, and “grace periods” related to getting out of the contract. There should always be full disclosure of all the terms--IN WRITING. And don't forget to read the small print. Sometimes the small print becomes the most important part of a contract.

04.10 Contracts (Financial Literacy)

teacher-scored 10 points possible 20 minutes

****************************************(COPY EVERYTHING BETWEEN THE ASTERISKS.)

ASSIGNMENT 4.10 (E13)

1) Q: How are your rights greater if you buy an item in your home instead of at the seller's permanent place of business? > ANSWER:

2) Q: What is the amount of a sale you cannot cancel? > ANSWER:

3) Q: List one item from the list that is exempt from the cooling off rule. (several are listed) > ANSWER:

4) Q: Make up a personal rule you can follow to avoid being pressured into bad contracts: > ANSWER:

5) Q: Under the Cooling-off Rule, if you cancel a purchase, how many days does the seller have to return your money?  > ANSWER:

6) Q: (04.10): Write your first and last name and today's date.> ANSWER:

****************************************

 

 

 

Pacing: complete this by the end of Week 4 of your enrollment date for this class.


04.10 Contracts links (Financial Literacy)

04.11 Unit 4 Test (Financial Literacy)

SPECIAL INSTRUCTIONS: After all the unit 4 assignments are submitted, you may take Test 4.

The best way to review for unit tests is to re-read your assignments. You may retake the unit 4 test if you are not pleased with your grade. After completing Test 4, proceed directly to “Unit 5: Planning.”

04.11 Unit 4 test (Financial Literacy)

both teacher- and computer-scored 100 points possible 45 minutes

Take the test on unit 4.

Pacing: complete this by the end of Week 4 of your enrollment date for this class.


05.00 Planning (Financial Literacy)

Marine Institute image, CC Attribution 3.0 UnportedMarine Institute image, CC Attribution 3.0 Unported
PLANNING - Create timely plans for short-term and long-term financial success.

"MY COMPUTER SAYS I SHOULD WORK 20 MORE YEARS TO HAVE SUFFICIENT RETIREMENT FUNDS. THEN AT AGE 98, I CAN DO AS I PLEASE!"

Few would honestly think the statement above reflects good advice, but some things are so far away, it doesn't seem urgent to plan right now. However, as time passes, so do our options for changing the future. The lessons in Unit 5 are about how you can plan now for a better future.

NOTE: This video can take from 3 to 12 minutes to load. I suggest you go ahead and try it, but feel free to open another screen and work on the next activity while it is loading. The video makes the class more interesting but does not contain cRitical information. Your computer needs to have QuickTime installed to view this video. To view it, click the link then click the play button.

05.01 Setting Priorities (Financial Literacy)

Determine what measures must be taken to manage your finances efficiently and effectively by reading and taking a Quiz.

 

Astronauts train with camera: NASA photo, public domainAstronauts train with camera: NASA photo, public domain 

COMPLETE THE TWO FOLLOWING READING ASSIGNMENTS BEFORE YOU TAKE THE 5.01 QUIZ:

PART A:

Setting priorities is the starting point of personal financial planning, budgeting, and decision-making. The purpose of assignment 5.1 is to help you identify your financial priorities. This assignment is a little more complicated than some lessons so make sure you follow instructions carefully.  

"A person’s beliefs about money are major forces that guide his or her spending decisions. As consumers, we usually spend our money on the things that are important to us, reflecting our values. A value is something that is very important to a person. A person may value security, being popular, freedom, family, or friends. Values are not usually good or bad, but important to the individual they belong to. Our values are formed by our life experiences, so as life progresses, our values change. Whatever a person values will influence how they spend their money.A financial plan serves as a roadmap in guiding a person through their financial life. It includes items such as a budget, saving plan, retirement plan, and goals. It is critical to begin thinking of all financial aspects, even retirement, NOW!! It is never too early to start being smart with money. With time on your side, you have something most adults do not have.

How do I make a financial plan?

Determine the current financial situation.
Develop financial goals.
Identify all options.
Evaluate alternatives.
Create and use a financial plan of action.
Review and revise the plan.

Financial goals are essential in creating a financial plan. Goals help people visualize where they want to be in the future and identify the steps that must be take to get there. By definition, a goal is a written statement of something a person wants or needs to accomplish. Goals should be Specific, Measurable, Attainable, Realistic, and Time-bound (SMART). By addressing each of the areas of a SMART goal, you can carve out a path that will guide you to financial success. A goal is more than a wish. It has to address all of the obstacles that may defeat them.

Financial behavior is influenced by our society, our culture, emotions, financial resources, peer pressure, scarcity, wants, and needs. Advertising, marketing, and the media can also greatly influence our financial behavior. Have you ever noticed that the milk is in the back of the store so shoppers have to browse other aisles to get to it? Have you noticed that the bread and milk are miles away? Have you noticed that parents of small children have to stand waiting surrounded by candy in the check out lane? Have you noticed that stores start playing Christmas music in August? These are all strategies used to influence financial behavior.

When a person wants something that is the new trend it can sometimes become hard to find, such as a Cabbage Patch Kid in the 80s. This forces the price to go up. As the price goes up, consumers are forced to weigh the want with their needs. Is this want worth giving up my needs? A want is something that simply increases the quality of living. A need is a basic of life, like food, water, and shelter. Scarcity is an economic principle stating that because of limited resources, an economic system cannot possibly produce all the goods and services that people want; therefore, choices must be made about how the limited resources will be used.

PART B:

Use the url provided with this module and follow these steps to complete the reading:

a. Click on the url

b. Under Lesson 1 (on the right hand side of the page) click on Monney Essentials Lesson.

c. Click on Setting Priorities.

d. Click on Spending.

e. Click on Making a Budget.

f. READ

THIS MODULE HAS NO ACTIVITY. WHEN YOU HAVE COMPLETED THE READING ASSIGNMENT PROCEED TO THE 5.01 QUIZ

 

05.01 Setting Priorities (Financial Literacy)

computer-scored 10 points possible 25 minutes

Take the Setting Priorities quiz. You must score 8 or higher on this quiz to continue. If your score is lower, simply re-take the quiz as many times as you need after reviewing the material.

Pacing: complete this by the end of Week 5 of your enrollment date for this class.


05.01 Setting Priorities links (Financial Literacy)

05.02 Personal Financial Goals (Financial Literacy)

Design a plan to reach a specific financial goal and relate financial resources needed for specific retirement activities and education.

Planning your finances includes preparation for a "rainy day": By Lisa Cyr (originally posted to Flickr), CC-BY-2.0, via Wikimedia CommonsPlanning your finances includes preparation for a "rainy day": By Lisa Cyr (originally posted to Flickr), CC-BY-2.0, via Wikimedia Commons BACKGROUND

A good personal financial plan contains specific, achievable goals with a plan to reach them. This activity helps you examine the nature of good goals. It also asks you to estimate your ability to pay for education or training after high school. Parts of the assignment will be easier if you work with a parent or other adult. Complete parts one and two below.

Visit URL #1 and follow the arrow at the bottom of each page (though you are not expected to complete the other topics links in the margin or to follow the links within the text). Then proceed to the next URL. Visit URL #2, pick a state and then click on a college to find the tuition cost.  Visit URL #3 and read the article.

05.02 Personal Financial Goals (Financial Literacy)

teacher-scored 10 points possible 30 minutes

****************************************(COPY EVERYTHING BETWEEN THE ASTERISKS.)

ASSIGNMENT 05.02 (E13) 
1) A. Create two long-term financial goals that meet all the "SMART" formula criteria. State the GOAL, how much it will COST, and the DATE by which you hope to accomplish this goal. To establish consistency we will set long-term goals as a financial goal equal to or greater than $3,001. e.g. go to Europe; it will cost me $6,000; I want to accomplish this goal by 2020.

        a) > ANSWER: (goal, money, date)

        b) > ANSWER: (goal, money, date)
 

   B. Now, for each of the above long term goals create two short-term financial goals that meet all the "SMART" formula criteria, and will help you reach the long term goal. With EACH answer state THREE things: the GOAL, the amount of MONEY needed, and this time, the beginning DATE. To establish consistency we will set short-term goals as a financial goal equal to or less than $3,000. e.g. if your long-term goal is to take a trip to Europe then you must come up with two short-term goals that will help you reach that goal...one might be: i. get my passport, $60, start saving from my next pay-check on January 6. ii. book my flight, $2,000, begin saving for this on February 21st

      a) LONG TERM GOAL (from above)

         i. ANSWER: (goal, money, date)

        ii. ANSWER: (goal, money, date)

 

    b) LONG TERM GOAL (from above)

       i. ANSWER: (goal, money, date)

      ii. ANSWER: (goal, money, date)

2) Q: Share your goals with your parents/guardian/grandparent. What input did they give you? or what was their response? do you agree with them? why, or why not? 

     ANSWER:

3) Q: Using URL #2, what is the school you chose and what is the tuition cost? > ANSWER:

4) Q: Using URL #3, list three costs of college BESIDES TUITION:      

     a) > ANSWER:      

     b) > ANSWER:      

     c) > ANSWER:

5) Q: Explain why experts sometimes say educational loans can be money well spent even though you may graduate with debt? > ANSWER:

6) Q: (05.02): Write your first and last name and today's date.> ANSWER:

****************************************

Pacing: complete this by the end of Week 5 of your enrollment date for this class.


05.02 Personal Financial Goals Links (Financial Literacy)

05.03 Net Worth Statements (Financial Literacy)

Explain the components of a financial plan (e.g., goals, net worth statement, budget, income and expense record, an insurance plan, a saving and investing plan).

Net Worth - what exactly is your financial footprint?: By Svilen.milev (Own work), CC-BY-SA-3.0, via Wikimedia CommonsNet Worth - what exactly is your financial footprint?: By Svilen.milev (Own work), CC-BY-SA-3.0, via Wikimedia Commons
BACKGROUND

Personal financial planning begins with identifying your financial condition (how much you own vs. how much you owe). You do this by calculating your “net worth.” Having negative “net worth,” means that if you died, you would still owe money even after selling everything and converting it into cash. Positive “net worth” means there would be money left over.

  • A net worth statement helps you with long-term planning and it helps you chart your progress and set goals.
  • A net worth statement helps a person evaluate and assess how they are progressing toward the achievement of long-term financial goals.

It is different than a budget, which helps you spend money wisely on short-term basis (like daily, weekly, and monthly). You will now complete an activity that helps you create your own net worth statement. Knowing what the following two terms mean will help you.

Assets include:

  • Home VALUE,
  • Other real estate,
  • Automobiles,
  • Other vehicles,
  • Jewelry,
  • Household items that could be sold,
  • Checking and savings,
  • Retirement accounts,
  • Savings bonds,
  • Bonds,
  • Mutual funds,
  • Stocks,
  • Cash value of life insurance,
  • Cash,
  • Other assets of value. (For someone your age, the assets may be rather small since you probably don't own a home, real estate, or other items of great value.)

Liabilities include:

  • Home mortgage LOAN (amount owed),
  • Other mortgage principal (owed),
  • Auto loans,
  • Student loans,
  • Other loans,
  • Credit card debt

Visit URL #1 to read the introductory sentence. Then fill in the boxes to tell your assets and liabilities. You may find that most of the boxes should remain “0” for someone your age. Or, feel free to do an imaginary net worth statement by pretending you are 20 years older. Then click “calculate” and scroll down to view the results.

05.03 Net Worth Statements (Financial Literacy)

teacher-scored 10 points possible 20 minutes

****************************************(COPY EVERYTHING BETWEEN THE ASTERISKS.)

ASSIGNMENT 05.03 (E13)

1) Q: Explain the long-term versus short-term relationship between a financial plan and a budget: > ANSWER:

2) Q: From the website, look under “Debts” (which usually fall under the category of Liabilities) to list one example of a large liability you see in YOUR future even if it is not currently a liability for you: > ANSWER:

3) Q: List one example of a large asset you see in your future. > ANSWER:

4) Q: In your own thinking, why can your “net worth” statement which gives a long-term picture of your finances, help you adjust your short-term monthly budget?: > ANSWER:

5) Q: In your own mind and from the background information in the first URL, list at least one important reason for doing personal, long term, financial planning?> ANSWER:

6) Q: (05.03): Write your first and last name and today's date.> ANSWER:

****************************************

Pacing: complete this by the end of Week 6 of your enrollment date for this class.


05.03 Net worth statements links (Financial Literacy)

05.05 Estate Planning (Financial Literacy)

Describe how insurance and other risk-management strategies protect against financial loss. Explain the importance of estate planning (wills, trusts).

Last will and testament: By Tennessee Williams (Key West County Clerk's Office), Public domain, via Wikimedia CommonsLast will and testament: By Tennessee Williams (Key West County Clerk's Office), Public domain, via Wikimedia Commons BACKGROUND

A basic estate plan ensures that your family and financial goals are met after you die. ​

05.05 Estate Planning (Financial Literacy)

teacher-scored 10 points possible 45 minutes

 

******************************************************************************************************************************************
ASSIGNMENT 05.05 (E15)
(Copy Items between the asterisks)

1) Q: Use the url's to define the following vocabulary words:

 ANSWERS:  

                  a. estate planning - 

                  b. Will -

                  c. Living Trust -

                  d. Living Will - 

                  e. Power of Attorney - 

2) Q: Using the url's provided below write a paragraph answering the following question: "Why is it important for everyone over the age of 18, regardless of income, to have a Will?" Your paragraph must have a main idea (topic sentence), at least two supporting ideas, and two supporting details (so it must be a minimum of five sentences). 

ANSWER:

3) Q: Using the url's provided below answer the following question: " What role does a Durable Power of Attorney have in a Living Will and when does the DPOA cease to have any power? Explain what circumstance(s) might prolong the power for a period of time, after it should have terminated...be aware that there is more than one circumstance. DO NOT USE ANY OTHER URL's, OTHER THAN THOSE PROVIDED BY THE LESSON. If you have questions about where/how to find the information ask the teacher.

ANSWER:

4) Q: Explain how a Living Will is different from a 'Last Will and Testament" Your explanation should be in terms of what they do and when they are used.

ANSWER:

5) Q: Why should you explain your estate plan to your family members, while you are alive, and not leave it up to others to take care of after your death?

ANSWER:

6) Write your first and last name and today's date.> ANSWER:

*****************************************************************************************************************

 

Pacing: complete this by the end of Week 7 of your enrollment date for this class.


05.05 Estate Planning links (Financial Literacy)

05.06 Unit 5 Test (Financial Literacy)

Review your assignments from Unit 5 to prepare for the Unit 5 Test.

05.06 Unit 5 test (Financial Literacy)

computer-scored 100 points possible 45 minutes

Take the unit 5 test.

Pacing: complete this by the end of Week 7 of your enrollment date for this class.


05.07 Review What You've Learned (Financial Literacy)

You've have learned the concepts from Unit 1 (Earning), Unit 2 (Saving), and Unit 3 (Spending). Now you've completed Unit 4(Protecting) and Unit 5 (Planning) in 2nd Quarter. You're now ready to review all of the concepts taught in Financial Literacy to help prepare you for the proctored final test.  There is a study guide that accompanies the review QUIZ that can be requested from the teacher.  Using the Study Guide and taking the Quiz will help you prepare for the proctored final.

05.07 Review What You've Learned (Financial Literacy)

computer-scored 100 points possible 45 minutes

ASSIGNMENT 05.07 - REVISION DATE: 01/01/12

Complete the assignment 05.07 review quiz now with a score of at least 80 out of 100. You may take the quiz as many times as you wish to review for the test, and/or raise your grade! If you score at least 80 on this review, you should be able to score at least the required minimum of 150 out of 200 on the final proctored exam since this review and the proctored test are very similar.

You should then move on to topic 4 in the topic outline to arrange for the proctor test and send me a note from the “Ready” link. Before submitting the "Ready" email from topic 4, please make sure all assignments have atleast the minimum score.

Do not arrange the proctored test until you have submitted the ready assignment and received a response from me. Good luck as you continue.

Pacing: complete this by the end of Week 8 of your enrollment date for this class.


05.08 Ready (Financial Literacy)

teacher-scored 1 points possible 10 minutes

Please write a short paragraph to your teacher detailing how you have met the class requirements and are now Ready to arrange for a certified proctor so you can take the proctored final test.

Pacing: complete this by the end of Week 9 of your enrollment date for this class.


05.09 Second Quarter Final (Financial Literacy)

computer-scored 250 points possible 90 minutes

This proctored final test must be taken under the supervision of an EHS-certified proctor, who will enter the test password. You must score at least 60% to pass this test. If you do not, please inform your teacher immediately.

You may use both sides of a 4X5 note card on the proctored test.

Pacing: complete this by the end of Week 9 of your enrollment date for this class.


5.04 RETIREMENT PLANNING

5.04 Retirement Planning

teacher-scored 10 points possible 90 minutes

Do you know that fewer than half of all Americans have calculated how much money they will need to save for retirement? that in 2012, 30% of private industry workers who had access to a defined contribution plan, such as a 401K, did not participate? and, that the average American spends 20 years in retirement? Putting money away for retirement should be something we are taught to do as soon as we start working, but unfortunately, it is one of the last things we learn to do; and as a result many Americans cannot retire early enough to enjoy their 'golden' years, some never can afford to retire, or many retire on significantly less money than they were anticipating. Retirement for many means cutting back and going without at a time when their health needs may increase and when they should be able to enjoy the 'fruits of their labor'. This Overview assignment will allow you to examine some of the issues surrounding retirement so you can understand, more completely, the complexity of the subject.

Below is a list of vocabulary peculiar to the topic of retirement. You do not need to define these words, it is simply a list of vocabulary you will need to be familiar with. Look over the list and take the time to look up any of the words you do not know the meaning of. It will make your study of the following material much easier if you know the meaning of terms before you begin to read about them:

401(K),  IRA,  Certificate of Deposit,  Money Market Fund,  Inflation,  Long-term investments,  Short-term investments,  Social Security, Stocks, Compound Interest,  Principal,  Pension,  Dividend,  Deflation,  Benefit,  Retiree,  Retirement,  403(b),  Roth IRA,  dividend reinvestment plan

 

*****************************************************************************************************************ASSIGNMENT 5.04

1. Develop a Retirement Plan that includes at least four of the following long term savings tools:

* Social Security * Real Estate * Savings Accounts * Mutual Funds * 401K * IRA * Pension * Stock Portfolio * Life Insurance

In your plan include the age you plan to retire, when you will begin saving for retirement, what tools you will use to save, and your yearly contributions to the plan (this will come from the retirement calculator).  Include in the plan your provisions for housing (will you have a mortgage, or will you pay off your home before you retire? will you downsize?); explain how you will handle any debt (credit card, loans, etc.) during your pre-retirement years and explain how you will limit debt after retirement; will you reinvest dividends? or will you begin to 'cash' them in? If you decide not to reinvest your dividends explain why. Will your spouse also be contributing to your retirement plan? You must use the retirement calculator provided for this lesson to help you make your determinations and guide your plan. The figures that go into the calculator are guesstimates, based on what career you choose, your age at the time you begin to plan for retirement, and your age at retirement. You can get assistance from parents with this apsect of the assignment, or research the career you are thinking of pursuing. Here are some examples of career choices: if you choose to go into education and teach, your income, if you begin saving for retirment at age 42 and you have your Masters Degree, will be about $60,000 a year; an anesthesiologist at age 42 will probably be making about $325,000. Your figures do not need to be exact, but they do need to be purposeful, meaning realistic, and created with the intent of giving you some meaningful data from the calculator. You must indicate, in your answer, what information came from the retirement calculator. Your plan must be a minimum of 200 words in length and MUST contain the data from the retirement calculator.  You can contact me at any point, to ask for assistance. 

ANSWER:

 

2.  90% of all American Retirees receive some kind of Social Security benefit. Explain why they should not be soley dependent on Social Security for their retirement needs. Use the PowerPoint and url's provided above to help you with your answer, and be sure to include the percentage of income that can be expected to be covered by Social Security.

ANSWER:

 

3.What is a Defined Contribution and give an example? 

ANSWER:

 

4.

a. Explain the difference between an IRA and a Roth IRA. 

ANSWER:

b. What is the main reason people invest in a Roth IRA?

ANSWER:

 

5. If you were giving someone advice about their retirement plan why would you suggest that they should reinvest their dividends? 

ANSWER:

 

6. Write your full name and today's date.

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Pacing: complete this by the end of Week 7 of your enrollment date for this class.


EXIT INTERVIEW

teacher-scored 10 points possible 25 minutes

 

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EXIT INTERVIEW

Answer each question:

 

1.

Q. At the beginning of the class, in the ABOUT ME Assignment, you identified what you thought would be your greatest    challenge taking this class. Now that you are preparing to finish, how successful do you think you have been in overcoming      that challenge? What/who helped you the most?

A.

 

2.

Q. Do you think you will achieve the academic goal, you made for yourself in the ABOUT ME assignment? Why, or why not?

A.

 

3.

Q. Did you meet the personal goal, made in the ABOUT ME  Assignment, for this class? Explain your answer.

A.

 

4.

Q. How did you fulfill the responsibilities, you described as being those of a student in this class in the ABOUT ME Assignment?

A.

 

5.

Q. What is one thing you will take away from this class that you believe will be useful to you in your adult life?

A..

 

6

Q. Write your name and today's date here.

A.

 

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Pacing: complete this by the end of Week 8 of your enrollment date for this class.