Week 4 Standards and Objectives
Standard 2: Students will understand sources of income and the relationship between income and career preparation.
Objective 2: Identify and understand required income withholdings.
- (a) List the reasons for taxation and uses of tax revenues.
- (b) Describe the purposes of Social Security and Medicare.
- (c) Calculate net income from an employee payroll record.
- (d) Demonstrate how to complete personal state and federal income tax forms.
Standard 3: Students will understand principles of money management.
Objective 5: Discuss the purposes for insurance and risk management.
- (a) Identify common types of insurance (e.g., automobile, health, homeowners, renter's life, long term disability) and their terminology (e.g., term, whole life, deductible, premium, grace period).
- (b) Describe how insurance and other risk-management strategies protect against financial loss.
- (c) Discuss insurance needs at various life stages.
- (d) Identify the importance of estate planning (wills, trusts).
- (e) Discuss the consequences of being under-insured.
Last modified: Thursday, 14 June 2012, 4:20 PM