Embedded Files
Theme 4 Overview
Theme 4 Overview
Theme Assessments
Theme Assessments
A variety of formative and summative assessments are available throughout the theme in multiple formats. Visit the Assessments tab to access them.
Project
Project
Theme Projects can be done during or immediately following the completion of the corresponding theme or as a capstone to the course. Please review all project content and the Pacing Guide to plan appropriately for your unique classroom situation.
People save to have money to use in the future. People invest to increase the value of their money. Because a savings account is generally insured by the financial institution, it carries less risk but has a lower rate of return. Stocks, bonds, and mutual funds are common investments which involve some risk, but investors are generally willing to accept more risk in exchange for higher returns.
Student Learning Objectives:
Student Learning Objectives:
Differentiate between saving and investing.
Describe types of investment vehicles.
Compare the relationship of risks and rewards.
Create a pyramid of investments, placing them in a range from low risk to high risk.
Identify the risk-return tradeoffs for saving and investing.
Implementation:
Implementation:
Teacher-led Session
Volunteer Video: Financial Advisor
Various types of risk should be considered when making retirement plans and investment decisions. Many types of investment plans, such as 401(k)s and IRAs, should be considered as well. It is never too early to think about financial planning. Planning should begin as soon as a person enters the workforce.
Student Learning Objectives:
Student Learning Objectives:
Identify the key elements of financial planning.
Explain the risks associated with long-term financial planning.
Examine investment needs in different financial situations and explore long-term financial investments.
Apply risk criteria when choosing and developing a financial plan.
Learn about mandatory and optional employee benefits offered by small businesses.
Implementation:
Implementation:
Teacher-led Session
Option for Volunteer-led discussion from a financial advisor
Volunteer Video: Investment/Financial Advisor
Students learn about mandatory and optional employee benefits offered by small businesses and explore both the advantages and disadvantages.
Student Learning Objectives:
Student Learning Objectives:
List four legally required benefits provided by employers.
List four optional benefits offered to employees.
Describe two ways providing great benefits can help a company.
Evaluate optional benefits for a small business scenario.
Implementation:
Implementation:
Teacher-led Session
Risk is exposure to something potentially dangerous or harmful. It is important to recognize risks and learn how to manage or mitigate them. People purchase insurance to reduce the risk of loss and receive compensation for losses or damage caused by events beyond their control.
Student Learning Objectives:
Student Learning Objectives:
Identify risks in life and how to protect against the consequences of risk.
Investigate categories of specific risks they may face.
Examine ways to mitigate those risks.
Calculate the probability of those risks occurring.
Implementation:
Implementation:
Teacher-led Session
Insurance coverage is provided in exchange for the payment of a premium. Five common types of insurance are homeowner’s (and renter’s) insurance, disability insurance, health insurance, life insurance, and automobile insurance. Some coverage, such as auto insurance, is required by law, while other coverage is optional. Consumers need to choose the right kind and amount of insurance during different stages in their lives.
Student Learning Objectives:
Student Learning Objectives:
Define basic insurance terms.
Examine five types of insurance and the purpose of each.
Evaluate the coverage for each of the five types.
Create a portfolio with the types of insurance they imagine themselves purchasing within the next 10 years.
Examine the types of risks faced by businesses, and strategies for managing risk.
Implementation:
Implementation:
Teacher-led Session
Volunteer Video: Insurance Salesperson
In this session, students will learn about the basics of insurance, the types of risks faced by businesses, and strategies for managing risk. They will apply what they learn to a small business scenario.
Acknowledgement:
Acknowledgement:
Junior Achievement gratefully acknowledges Project InVEST for their dedication to the development and implementation of the JA Financial Capability high school program. Content from Project InVEST was used throughout the insurance lessons to inspire and prepare young people to succeed in their financial future.
Student Learning Objectives:
Student Learning Objectives:
Define insurance and explain its purpose.
Explain the relationships between risk, loss, peril, and insurance.
Define risk management and explain five methods of managing risk.
Identify potential risks and management strategies for a small business.
Implementation:
Implementation:
Teacher-led Session
Content Statement
Content Statement
In Theme 4, the following Ohio Financial Literacy Content Statements are addressed:
In Theme 4, the following Ohio Financial Literacy Content Statements are addressed:
Statement 8: Financial experts provide guidance and advice on a wide variety of financial issues.
a. Explain the roles and responsibilities of a financial planner.
b. Identify qualifications to look for when searching for a financial planner.
Statement 10: Taxpayers may save money by understanding and using tax credits and deductions.
a. Identify and describe how tax credits and deductions influence total tax liability.
Statement 17: Investment strategies must take several factors into consideration including the time horizon of the investment, the degree of diversification, the investor’s risk tolerance, how the assets are selected and allocated, product costs, fees, tax implications and the time value of money.
c. Identify the more advantageous investment strategy for different individuals in given scenarios.
Statement 18: Justify reasons to use health, disability, long-term care and life insurance.
a. Explain the specific roles of agencies and the services they can offer to consumers.
Statement 24: A risk management plan can protect consumers from the potential loss of personal and/or business assets or income.
a. Businesses can carry insurance that will protect them against damage or loss of property, business interruption, product liability lawsuits, employee negligence, libel and slander
b. Describe the difference between a warranty and extended warranty on a given product
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