Career and Technical Ed Curriculum
  Economics and Personal Finance

Students learn how to navigate the financial decisions they must face and to make informed decisions related to career exploration, budgeting, banking, credit, insurance, spending, taxes, saving, investing, buying/leasing a vehicle, living independently, and inheritance.  Development of financial literacy skills and an understanding of economic principles will provide the basis for responsible citizenship and career success.  In addition to developing personal finance skills, students in the 36-week course will also study basic occupational skills and concepts in preparation for entry-level employment in the field of finance.  The cooperative education (Business Cooperative Internship--679920) method is available for this course.  Students combine classroom instruction and supervised on-the-job training in an approved position with continuing supervision throughout the school year.

Last Updated: 08/16/12 02:25 PM
Standard 1

Benchmark 1.001
Demonstrate Positive Work Ethic
Indicator 1.001.001
Maintain punctual and consistent attendance
Indicator 1.001.002
Take direction willingly
Indicator 1.001.003
Exhibit motivation to accomplish the task at hand

Benchmark 1.002
Demonstrate Integrity
Indicator 1.002.001
Identify and abide by laws and workplace policies
Indicator 1.002.002
Exhibit honesty and reliability

Benchmark 1.003
Demonstrate Teamwork Skills
Indicator 1.003.001
Contribute to the success of the team
Indicator 1.003.002
Assist others
Indicator 1.003.003
Request help when needed

Benchmark 1.004
Demonstrate Self-Representation Skills
Indicator 1.004.001
Dress appropriately
Indicator 1.004.002
Use language and manners suitable for the workplace

Benchmark 1.005
Demonstrate Diversity Awareness
Indicator 1.005.001
Work in a respectful & friendly manner with all customers & coworkers

Benchmark 1.006
Demonstrate Conflict-Resolution Skills
Indicator 1.006.001
Negotiate diplomatic solutions to interpersonal & workplace conflicts

Benchmark 1.007
Demonstrate Creativity and Resourcefulness
Indicator 1.007.001
Contribute new ideas
Indicator 1.007.002
Work with initiative
Indicator 1.007.003
Deal skillfully and promptly with new situations and obstacles
Standard 2

Benchmark 2.008
Demonstrate Effective Speaking and Listening Skills
Indicator 2.008.001
Communicate effectively with customers and fellow coworkers
Indicator 2.008.002
Comprehend details and follow directions
Indicator 2.008.003
Repeat directions or requests to ensure understanding

Benchmark 2.009
Demonstrate Effective Reading and Writing Skills
Indicator 2.009.001
Read and correctly interpret workplace documents
Indicator 2.009.002
Write with clear and correct language, appropriate to audience

Benchmark 2.010
Demonstrate Critical-Thinking and Problem-Solving Skills
Indicator 2.010.001
Analyze and solve problems that arise in completing assigned tasks

Benchmark 2.011
Demonstrate Healthy Behaviors and Safety Skills
Indicator 2.011.001
Manage personal health
Indicator 2.011.002
Follow safety guidelines

Benchmark 2.012
Demonstrate an Understanding of Workplace Organizations, Systems, etc.
Indicator 2.012.001
Identify “big picture” issues
Indicator 2.012.002
Explain one’s role in fulfilling the mission of the workplace

Benchmark 2.013
Demonstrate Lifelong-Learning Skills
Indicator 2.013.001
Continually acquire new industry-related knowledge
Indicator 2.013.002
Improve professional skills to stay current in the field & to advance
Indicator 2.013.003
Seek education and experiences that enhance personal growth

Benchmark 2.014
Demonstrate Job Acquisition and Advancement Skills
Indicator 2.014.001
Prepare to apply for a job
Indicator 2.014.002
Seek promotion

Benchmark 2.015
Demonstrate Time, Task, and Resource-Management Skills
Indicator 2.015.001
Organize and implement a productive plan of work
Indicator 2.015.002
Manage resources

Benchmark 2.016
Demonstrate Job-Specific Mathematics Skills
Indicator 2.016.001
Use mathematical reasoning/processes to accomplish job-specific tasks

Benchmark 2.017
Demonstrate Customer-Service Skills
Indicator 2.017.001
Address the needs of all customers
Indicator 2.017.002
Provide helpful, courteous, and knowledgeable service
Standard 3

Benchmark 3.018
Demonstrate Proficiency with Technologies Common to an Occupation
Indicator 3.018.001
Select & use technological resources to accomplish work efficiently

Benchmark 3.019
Demonstrate Information Technology Skills
Indicator 3.019.001
Work with hardware, file-management techniques, and software/programs
Indicator 3.019.002
Work with equipment and software appropriate to occupation
Indicator 3.019.003
Seek additional technology that might improve work processes/products

Benchmark 3.020
Demonstrate an Understanding of Internet Use and Security Issues
Indicator 3.020.001
Use the Internet efficiently and ethically for work
Indicator 3.020.002
Take measures to avoid Internet security risks

Benchmark 3.021
Demonstrate Telecommunications Skills
Indicator 3.021.001
Select and use telecommunications devices
Indicator 3.021.002
Select and use telecommunications services
Indicator 3.021.003
Select and use Web-based applications
Standard 4

Benchmark 4.022
Examine Planning at Individual Business and Overall Industry Levels
Indicator 4.022.001
Develop strategic plans-mission, vision, goals, objectives, etc.
Indicator 4.022.002
Work with planning tools
Indicator 4.022.003
Anticipate needs for staffing and purchases of equipment and supplies
Indicator 4.022.004
Develop plans for training and upgrading of staff
Indicator 4.022.005
Forecast market trends
Indicator 4.022.006
Develop business plans for entrepreneurial ventures

Benchmark 4.023
Explain Management Methods
Indicator 4.023.001
Use an organization chart to explain how a chain of command works
Indicator 4.023.002
Provide input for strategic plans & communicating the company's vision
Indicator 4.023.003
Lead employees in carrying out strategic plans and action plans
Indicator 4.023.004
Evaluate employee performance
Indicator 4.023.005
Anticipate technology and other major purchasing needs
Indicator 4.023.006
Ensure equity and access for employees
Indicator 4.023.007
Resolve conflicts
Indicator 4.023.008
Develop job descriptions and written policies/procedures
Indicator 4.023.009
Identify recruitment procedures, training opportunities, etc.
Indicator 4.023.010
Work with professional associations and community outreach efforts

Benchmark 4.024
Examine Finance: Decisions, Raising Capital, Expansion, etc.
Indicator 4.024.001
Develop budgets
Indicator 4.024.002
Prepare financial statements
Indicator 4.024.003
Analyze and manage financial transactions and records
Indicator 4.024.004
Implement payroll procedures
Indicator 4.024.005
Determine and pay taxes
Indicator 4.024.006
Identify indirect wage costs
Indicator 4.024.007
Make loans and grant credit to customers
Indicator 4.024.008
Develop graphs and charts related to company finances
Indicator 4.024.009
Identify & implement methods of sustaining profitability of a business
Indicator 4.024.010
Manage 401K plans
Indicator 4.024.011
Identify sources of capital

Benchmark 4.025
Describe Technical and Production Skills for Production Techniques
Indicator 4.025.001
Use troubleshooting and problem-solving techniques
Indicator 4.025.002
Analyze information to make decisions
Indicator 4.025.003
Identify and implement quality assurance techniques
Indicator 4.025.004
Employ communication skills (writing, listening, speaking, etc.)
Indicator 4.025.005
Participate in team efforts
Indicator 4.025.006
Implement projects and new techniques
Indicator 4.025.007
Demonstrate basic computer skills
Indicator 4.025.008
Employ time management techniques in completing tasks
Indicator 4.025.009
Demonstrate ethical behavior and work ethic

Benchmark 4.026
Examine Underlying Principles of Technology
Indicator 4.026.001
Identify principles of technology an employee should know

Benchmark 4.027
Examine Labor Issues: Worker Rights, Labor Unions, etc.
Indicator 4.027.001
Identify a variety of labor issues

Benchmark 4.028
Describe Community Issues
Indicator 4.028.001
Explain the impacts of community issues on business
Indicator 4.028.002
Identify methods used by business to become involved in the community

Benchmark 4.029
Examine Concepts of Health, Safety & Environmental Issues
Indicator 4.029.001
Describe concepts related to health issues
Indicator 4.029.002
Describe concepts related to safety issues
Indicator 4.029.003
Describe concepts related to environmental issues
Standard 5

Benchmark 5.030
Identify the Purposes and Goals of the Student Organization
Indicator 5.030.001
Identify the purposes of the student organization
Indicator 5.030.002
Identify the goals of the student organization

Benchmark 5.031
Explain the Benefits and Responsibilities of Organization Membership
Indicator 5.031.001
Explain membership benefits of student and civic organizations
Indicator 5.031.002
Explain membership responsibilities of student and civic organizations

Benchmark 5.032
Demonstrate Leadership Skills Through Participation in Activities
Indicator 5.032.001
Participate in activities: meetings, community-service, competitions

Benchmark 5.033
Identify Internet Safety Issues & Comply with Acceptable Use Standards
Indicator 5.033.001
Identify Internet safety issues
Indicator 5.033.002
Identify procedures for complying with acceptable use standards
Standard 6

Benchmark 6.034
Demonstrate Knowledge of Basic Economic Concepts and Structures
Indicator 6.034.001
Describe how consumers, businesses, etc. face scarcity of resources
Indicator 6.034.002
Explain that choices often have long-term unintended consequences
Indicator 6.034.003
Describe how decision-making requires comparing costs & benefits
Indicator 6.034.004
Identify factors of production
Indicator 6.034.005
Compare characteristics of market, command, tradition, mixed economies
Indicator 6.034.006
Identify Adam Smith; describe the characteristics of a market economy

Benchmark 6.035
Demonstrate Knowledge of the Role of Producers and Consumers
Indicator 6.035.001
Describe how consumers, producers, workers, etc. respond to incentives
Indicator 6.035.002
Explain how businesses respond to consumer sovereignty
Indicator 6.035.003
Identify the role of entrepreneurs
Indicator 6.035.004
Compare the costs/benefits of different forms of business organization
Indicator 6.035.005
Describe how costs and revenues affect profit and supply
Indicator 6.035.006
Describe how increased productivity affects costs of production, etc.
Indicator 6.035.007
Examine how investment in human capital, etc. can improve productivity
Indicator 6.035.008
Describe the effects of competition on producers, sellers & consumers
Indicator 6.035.009
Explain the effects of monopolies or collusion among sellers
Indicator 6.035.010
Illustrate the circular flow of economic activity

Benchmark 6.036
Demonstrate Knowledge of the Price System
Indicator 6.036.001
Examine the laws of supply and demand and the determinants of each
Indicator 6.036.002
Explain how the interaction of supply and demand determines price
Indicator 6.036.003
Describe the elasticity of supply and demand
Indicator 6.036.004
Examine the purposes and implications of price ceilings price floors
Indicator 6.036.005
Analyze how wages and prices are determined in different markets

Benchmark 6.037
Demonstrate Knowledge that Many Factors Affect Income
Indicator 6.037.001
Examine the market value of a worker’s skills and knowledge
Indicator 6.037.002
Identify the impact of human capital on production costs
Indicator 6.037.003
Explain relationship between person’s human capital & income potential
Indicator 6.037.004
Describe how changes in supply/demand for goods/services affect income

Benchmark 6.038
Demonstrate Knowledge of a Nation’s Economic Goals
Indicator 6.038.001
Describe economic indicators, such as GDP, CPI, and unemployment rate
Indicator 6.038.002
Describe causes and effects of unemployment, inflation, reduced growth
Indicator 6.038.003
Describe the fluctuations of the business cycle
Indicator 6.038.004
Describe strategies for achieving national economic goals

Benchmark 6.039
Demonstrate Knowledge of the Nation’s Financial System
Indicator 6.039.001
Define the role of money
Indicator 6.039.002
Explain the role of financial markets and financial institutions

Benchmark 6.040
Demonstrate Knowledge of the Influence of Monetary and Fiscal Policy
Indicator 6.040.001
Describe purpose, structure & function of the Federal Reserve System
Indicator 6.040.002
Describe government’s role in stabilizing the economy
Indicator 6.040.003
Describe sources of government revenue
Indicator 6.040.004
Explain balanced budget, deficit, and national debt

Benchmark 6.041
Demonstrate Knowledge of the Role of Government in a Market Economy
Indicator 6.041.001
Identify goods & services provided by government to benefit society
Indicator 6.041.002
Identify govt's role in protecting property rights/enforcing contracts
Indicator 6.041.003
Provide examples of government regulation of the market
Indicator 6.041.004
Explain that governments redistribute wealth
Indicator 6.041.005
Explain that taxes & fees fund all government-provided goods/services

Benchmark 6.042
Demonstrate Knowledge of the Global Economy
Indicator 6.042.001
Explain that when parties trade voluntarily, all benefit
Indicator 6.042.002
Distinguish between absolute and comparative advantage
Indicator 6.042.003
Distinguish between trade deficit and trade surplus
Indicator 6.042.004
Explain exchange rates & the impact of a strong dollar and weak dollar
Indicator 6.042.005
Describe the costs and benefits of trade barriers
Indicator 6.042.006
Describe the effects of international trade agreements and the WTO
Indicator 6.042.007
Explain growing economic interdependence
Standard 7

Benchmark 7.043
Examine Basic Economic Concepts
Indicator 7.043.001
Analyze the impact of scarcity on product prices/consumer spending
Indicator 7.043.002
Analyze the impact of choice on product prices/consumer spending
Indicator 7.043.003
Analyze the impact of opportunity cost on prices/consumer spending
Indicator 7.043.004
Analyze the impact of trade-offs on product prices/consumer spending
Indicator 7.043.005
Analyze the impact of costs on product prices/consumer spending
Indicator 7.043.006
Analyze the impact of benefits on product prices/consumer spending
Indicator 7.043.007
Analyze the impact of supply and demand on prices/consumer spending
Indicator 7.043.008
Analyze the impact of competition on product prices/consumer spending
Indicator 7.043.009
Analyze the impact of specialization on prices/consumer spending
Indicator 7.043.010
Analyze the impact of interdependence on prices/consumer spending

Benchmark 7.044
Examine the Effect of Supply and Demand on Wages and Prices
Indicator 7.044.001
Analyze the role of supply and demand on wage and price determination

Benchmark 7.045
Describe the Steps for Making a Purchase Decision
Indicator 7.045.001
Describe the steps for making a purchase decision
Indicator 7.045.002
Use mathematical skills in making purchase decisions
Indicator 7.045.003
Use a decision-making model to make a purchase decision

Benchmark 7.046
Describe Common Types of Contracts and the Implications of Each
Indicator 7.046.001
Identify common types of contracts
Indicator 7.046.002
Identify online contract types
Indicator 7.046.003
Understand the three-day rescission period
Indicator 7.046.004
Explain the circumstances requiring co-signatures for loans
Indicator 7.046.005
Understand the legal ramifications of adults sharing responsibilities

Benchmark 7.047
Demonstrate Comparison-Shopping Skills
Indicator 7.047.001
Obtain the best quality for the best price

Benchmark 7.048
Maintain a Filing System for Personal Financial Records
Indicator 7.048.001
Set up manual and electronic filing systems using different criteria
Indicator 7.048.002
Index, code, and file manual and electronic financial records
Indicator 7.048.003
Retrieve information from files

Benchmark 7.049
Examine Impact of Advertising & Marketing in the Global Marketplace
Indicator 7.049.001
Compare commonly used global advertising & marketing strategies
Indicator 7.049.002
Analyze the impacts of marketing strategies on consumer decisions

Benchmark 7.050
Access Reliable Financial Information from a Variety of Sources
Indicator 7.050.001
Gather financial data from print, electronic, and verbal sources

Benchmark 7.051
Explain Consumer Rights, Responsibilities, Remedies, and Vigilance
Indicator 7.051.001
Explain the basic rights of a consumer
Indicator 7.051.002
Identify the responsibilities of a consumer
Indicator 7.051.003
Identify possible remedies for a consumer

Benchmark 7.052
Examine Precautions for Protecting Identity and Other Information
Indicator 7.052.001
Investigate common types of identity theft and ways to avoid it

Benchmark 7.053
Interact Effectively with Salespersons and Merchants
Indicator 7.053.001
Evaluate sales incentives
Indicator 7.053.002
Compare the costs and benefits of purchasing, leasing & renting
Indicator 7.053.003
Apply comparison shopping techniques
Indicator 7.053.004
Negotiate prices and terms
Indicator 7.053.005
Describe the steps involved in settling a billing dispute

Benchmark 7.054
Differentiate Between Consumer Protection Regulations & Agencies
Indicator 7.054.001
Describe the purposes of consumer protection laws
Indicator 7.054.002
Provide examples of consumer protection laws
Indicator 7.054.003
Identify the gov't agencies responsible for enforcing protection laws
Indicator 7.054.004
Identify private groups that work for consumer protection
Standard 8

Benchmark 8.055
Compare the Costs and Benefits of Purchasing vs. Leasing a Vehicle
Indicator 8.055.001
Identify the basic steps for buying or leasing a new or used car
Indicator 8.055.002
Analyze the costs and benefits of buying or leasing a new or used car
Indicator 8.055.003
Use subjective & objective resources to research the top three choices

Benchmark 8.056
Compare Advantages and Disadvantages: Renting vs. Purchasing a Home
Indicator 8.056.001
Identify the advantages and disadvantages of renting a home
Indicator 8.056.002
Identify the advantages and disadvantages of purchasing a home
Indicator 8.056.003
Compare the advantages and disadvantages of renting vs. purchasing

Benchmark 8.057
Analyze the Process of Renting Housing
Indicator 8.057.001
Examine available residential rental properties
Indicator 8.057.002
Analyze the process of renting housing

Benchmark 8.058
Describe the Process of Purchasing a Home
Indicator 8.058.001
Identify key steps in the home purchase process

Benchmark 8.059
Calculate the Cost of Utilities, Services, Maintenance, etc.
Indicator 8.059.001
Calculate the cost of utility and related charges
Indicator 8.059.002
Calculate the cost of furniture and appliances
Indicator 8.059.003
Calculate the cost of other expenses

Benchmark 8.060
Evaluate Discretionary Spending Decisions
Indicator 8.060.001
Evaluate discretionary spending decisions: utilities & related charges
Indicator 8.060.002
Evaluate discretionary spending decisions: furniture & appliances
Indicator 8.060.003
Evaluate discretionary spending decisions: other expenses
Standard 9

Benchmark 9.061
Describe the Types of Financial Institutions
Indicator 9.061.001
Describe the types of financial institutions

Benchmark 9.062
Examine How Financial Institutions Affect Personal Financial Planning
Indicator 9.062.001
Analyze the impact of the Federal Reserve System on financial planning
Indicator 9.062.002
Analyze the impact of banks on personal financial planning
Indicator 9.062.003
Analyze the impact of credit unions/brokerage services
Indicator 9.062.004
Analyze the impact of financial institutions on financial planning
Indicator 9.062.005
Explain the concept of the circular flow of money
Indicator 9.062.006
Understand the relationships between discount rate, open market, etc.

Benchmark 9.063
Evaluate Services and Related Costs Associated with Personal Banking
Indicator 9.063.001
Use a decision-making model to compare services

Benchmark 9.064
Differentiate Among Types & Regulations of Monetary Transactions
Indicator 9.064.001
Differentiate among the types & regulations of monetary transactions

Benchmark 9.065
Prepare Necessary Forms to Open/Maintain a Checking & Savings Account
Indicator 9.065.001
Complete signature cards and an application for opening accounts
Indicator 9.065.002
Present approved identification documents
Indicator 9.065.003
Write and maintain checks, stubs, check register; endorse checks
Indicator 9.065.004
Complete deposit and withdrawal documents

Benchmark 9.066
Reconcile Bank Statements
Indicator 9.066.001
Match checkbook registers with bank statement & online account data
Indicator 9.066.002
Follow proper procedures to locate and correct any differences

Benchmark 9.067
Compare Costs and Benefits of Online and Traditional Banking
Indicator 9.067.001
Compare the costs and benefits of online and traditional banking

Benchmark 9.068
Explain How Historical Events Have Influenced Financial Institutions
Indicator 9.068.001
Explain how certain historical events have influenced banking system

Benchmark 9.069
Compare the US Monetary System with the International Monetary System
Indicator 9.069.001
Compare the US monetary system with the international monetary system
Standard 10

Benchmark 10.070
Evaluate the Various Methods of Financing a Purchase
Indicator 10.070.001
Identify the various methods of financing a purchase
Indicator 10.070.002
Use a decision-making model to evaluate financing a purchase
Indicator 10.070.003
Define terms used to describe credit
Indicator 10.070.004
Examine the opportunity cost of credit
Indicator 10.070.005
Weigh the risks involved in no-payment/no-interest financing
Indicator 10.070.006
Explain the kinds of credit
Indicator 10.070.007
Describe the sources of credit
Indicator 10.070.008
Determine the best type and source of credit for simulated purchases

Benchmark 10.071
Analyze Credit Card Features and Their Impact on Financial Planning
Indicator 10.071.001
Analyze credit card features and their impact on financial planning
Indicator 10.071.002
Calculate costs: APR, annual fees, compound interest, penalty charges

Benchmark 10.072
Identify Qualifications Needed to Obtain Credit
Indicator 10.072.001
Define creditworthiness
Indicator 10.072.002
Identify the qualifications necessary for obtaining credit

Benchmark 10.073
Identify Basic Provisions of Credit and Loan Laws
Indicator 10.073.001
Describe basic laws to protect consumers from unfair credit practices
Indicator 10.073.002
Describe standards that specify how consumers are to be treated

Benchmark 10.074
Compare Terms and Conditions of Various Sources of Consumer Credit
Indicator 10.074.001
Define terms used in consumer credit
Indicator 10.074.002
Identify credit sources
Indicator 10.074.003
List the advantages and disadvantages of various credit sources

Benchmark 10.075
Identify Strategies for Effective Debt Management
Indicator 10.075.001
Identify strategies for effective debt management
Indicator 10.075.002
Identify sources of assistance for debt management

Benchmark 10.076
Explain the Need for a Good Credit Rating
Indicator 10.076.001
Describe the way credit is rated and the contents of a credit report
Indicator 10.076.002
Identify the information included in a person's credit record/history
Indicator 10.076.003
Review credit rating scores and describe their implications
Indicator 10.076.004
Describe ways to maintain a sound credit rating
Indicator 10.076.005
Explain how a credit rating affects credit & employment eligibility
Indicator 10.076.006
Explain how to access one's personal credit record & reasons to check
Indicator 10.076.007
Describe the steps to correct errors in one's credit report

Benchmark 10.077
Compare the Costs and Conditions of Secured and Unsecured Loans
Indicator 10.077.001
Compare the conditions and costs of various types of loans

Benchmark 10.078
Compare the Types of Bankruptcy and the Implications of Each
Indicator 10.078.001
Research the major causes of personal bankruptcy
Indicator 10.078.002
Evaluate voluntary & involuntary bankruptcy; their effects on future
Indicator 10.078.003
Explain the advantages and disadvantages of bankruptcy
Indicator 10.078.004
Assess the need for legal advice in bankruptcy cases
Indicator 10.078.005
Identify bankruptcy laws and their implications for personal finance

Benchmark 10.079
Calculate Payment Schedules for a Loan
Indicator 10.079.001
Use the simple interest formula to calculate payment schedules
Indicator 10.079.002
Explain the variables that affect the amount of interest charged

Benchmark 10.080
Complete a Sample Credit Application
Indicator 10.080.001
Explain the types of data required and the reasons they are required
Indicator 10.080.002
Supply requested information regarding income, employment, etc.
Indicator 10.080.003
Present data legibly and accurately
Indicator 10.080.004
Explain issues surrounding an application for credit
Standard 11

Benchmark 11.081
Evaluate Insurance as a Risk Management Strategy
Indicator 11.081.001
Define the term risk management
Indicator 11.081.002
Explain the ways insurance can reduce financial risk
Indicator 11.081.003
Analyze the pros & cons of insurance as a risk management strategy

Benchmark 11.082
Distinguish Among the Types, Costs, and Benefits of Insurance Coverage
Indicator 11.082.001
Distinguish among the types of automobile insurance
Indicator 11.082.002
Distinguish among the major types of life insurance coverage
Indicator 11.082.003
Distinguish among the types of property insurance coverage
Indicator 11.082.004
Distinguish among the types of health insurance coverage
Indicator 11.082.005
Distinguishing among the types of professional liability insurance

Benchmark 11.083
Explain the Roles of Insurance in Financial Planning
Indicator 11.083.001
Identify the roles of insurance in financial planning
Standard 12

Benchmark 12.084
Examine How Personal Choices Impact Earnings
Indicator 12.084.001
Analyze research about how education, etc. affect personal earnings

Benchmark 12.085
Differentiate Among Sources of Income
Indicator 12.085.001
Differentiate among sources of income
Indicator 12.085.002
Differentiate earned vs. unearned income

Benchmark 12.086
Calculate Net Pay
Indicator 12.086.001
Calculate net pay

Benchmark 12.087
Investigate Employee Benefits and Incentives
Indicator 12.087.001
Investigate employee benefits and incentives

Benchmark 12.088
Complete a Standard W-4 Form
Indicator 12.088.001
Complete an actual W-4 form to determine options
Indicator 12.088.002
Record data legibly & accurately, according to the form's instructions
Indicator 12.088.003
Explain the purpose of a W-4 form and its impact on tax deductions
Standard 13

Benchmark 13.089
Describe the Types and Purposes of Local, State, and Federal Taxes
Indicator 13.089.001
Describe local taxes: types, how levied, way the resources are used
Indicator 13.089.002
Describe state taxes: types, how levied, way the resources are used
Indicator 13.089.003
Describe federal taxes: types, how levied, way the resources are used

Benchmark 13.090
Explore How Tax Structures Affect Various Groups Differently
Indicator 13.090.001
Identify the different types of tax structures
Indicator 13.090.002
Compare how tax structures affect consumers/producers/business owners

Benchmark 13.091
Compute Local Taxes on Products and Services
Indicator 13.091.001
Calculate sales tax on products such as groceries, clothing, etc.

Benchmark 13.092
Examine Potential Tax Deductions and Credits on a Tax Return
Indicator 13.092.001
Explain the difference between a tax deduction and a tax credit
Indicator 13.092.002
Identify potential tax deductions and credits on a tax return

Benchmark 13.093
Explain the Content and Purpose of a Standard W-2 Form
Indicator 13.093.001
Review and explain each part of the Wage and Tax Statement (W-2)
Indicator 13.093.002
Identify the items transferred to income tax forms from the W-2

Benchmark 13.094
Explain Similarities & Differences: State vs Federal Inheritance Taxes
Indicator 13.094.001
Distinguish between an inheritance tax and an estate tax
Indicator 13.094.002
Compare and contrast taxes to consider when planning an estate

Benchmark 13.095
Define the Terminology Associated With Inheritance
Indicator 13.095.001
Define the terminology associated with inheritance

Benchmark 13.096
Compare Investment Options for a Monetary Inheritance
Indicator 13.096.001
Compare investment options for a monetary inheritance

Benchmark 13.097
Examine Types and Purposes of Estate Planning
Indicator 13.097.001
Identify the types of estate planning
Indicator 13.097.002
Describe the purposes of estate planning
Indicator 13.097.003
Explain the ramifications of failing to keep a will current, etc.

Benchmark 13.098
Complete a State Income Tax Form, Including Electronic Formats
Indicator 13.098.001
Complete an electronic state income tax form
Indicator 13.098.002
Complete a printed state income tax form
Indicator 13.098.003
Research information & services regarding state tax preparation

Benchmark 13.099
Complete Short and Itemized Federal Income Tax Forms
Indicator 13.099.001
Enter data and calculate taxes on the short federal income tax form
Indicator 13.099.002
Enter data and calculate taxes on the itemized federal income tax form
Indicator 13.099.003
Research information & services regarding federal tax preparation
Standard 14

Benchmark 14.100
Identify Short-Term and Long-Term Personal Financial Goals
Indicator 14.100.001
Define and recognize examples of short-term financial goals
Indicator 14.100.002
Define and recognize examples of long-term financial goals
Indicator 14.100.003
Prepare a statement of short/long-term goals & ways to accomplish them

Benchmark 14.101
Identify Anticipated and Unanticipated Income and Expenses
Indicator 14.101.001
Identify sources of anticipated income and expenses
Indicator 14.101.002
Identify sources of unanticipated income and expenses
Indicator 14.101.003
Prepare a statement of personal current and anticipated expenses

Benchmark 14.102
Examine Components and Purposes of a Personal Net Worth Statement
Indicator 14.102.001
Define a net worth statement and its components
Indicator 14.102.002
Discuss the purposes of a net worth statement
Indicator 14.102.003
Identify assets
Indicator 14.102.004
Identify liabilities
Indicator 14.102.005
Define personal inventory
Indicator 14.102.006
Discuss the purpose of a personal inventory
Indicator 14.102.007
Identify the components of a personal inventory
Indicator 14.102.008
Identify the need for safe storage of the inventory records

Benchmark 14.103
Develop a Personal Budget
Indicator 14.103.001
Prepare a statement of personal short- and long-term goals
Indicator 14.103.002
Develop a plan for managing one’s money over a short-term period
Indicator 14.103.003
Develop a long-term plan for managing money

Benchmark 14.104
Investigate the Effects of Govt Actions on Personal Financial Planning
Indicator 14.104.001
Describe the major roles of government
Indicator 14.104.002
Analyze the impact of the govt's roles on business expansion, etc.
Indicator 14.104.004
Evaluate the effects of supply and demand and other economic concepts

Benchmark 14.105
Explain How Economics Influences a Personal Financial Plan
Indicator 14.105.001
Explain the impact of leading economic indicators on a financial plan
Standard 15

Benchmark 15.106
Compare the Impact of Simple Interest vs. Compound Interest on Savings
Indicator 15.106.001
Calculate simple interest and compound interest for a given amount
Indicator 15.106.002
Explain the role of compound interest in building wealth

Benchmark 15.107
Compare and Contrast Investment and Savings Options
Indicator 15.107.001
Explain the concept of present value/future value
Indicator 15.107.002
Identify the characteristics and risks vs. return of savings options
Indicator 15.107.003
Identify the characteristics & risks vs. returns of investment options
Indicator 15.107.004
Compare and contrast investment and savings options

Benchmark 15.108
Explain Costs and Income Sources for Investments
Indicator 15.108.001
Identify costs for investments
Indicator 15.108.002
Identify incomes sources for investments

Benchmark 15.109
Examine the Fundamental Workings of the Social Security System
Indicator 15.109.001
Explain the purpose of Social Security, types of benefits, etc.
Indicator 15.109.002
Examine Social Security’s impact on retirement planning

Benchmark 15.110
Contrast Alternative Retirement Plans
Indicator 15.110.001
Explain the advantages and disadvantages of retirement plan options

Benchmark 15.111
Explore How the Stock Market Works
Indicator 15.111.001
Plan, invest, and evaluate investment choices using a simulation
Indicator 15.111.002
Understand how and why stocks and bonds are issued
Indicator 15.111.003
Explain why investors buy stocks
Indicator 15.111.004
Evaluate how social, physical & economic factors impact stock prices
Standard 16

Benchmark 16.112
Identify Sources of Financial Capital
Indicator 16.112.001
Identify sources of financial capital
Indicator 16.112.002
Identify sources of increasing financial capital

Benchmark 16.113
Analyze the Financial Position of a Business
Indicator 16.113.001
Estimate the expenses of a given business
Indicator 16.113.002
Identify the break-even point of a given business
Indicator 16.113.003
Set the profit projections of a given business
Indicator 16.113.004
Describe how financial statements reflect financial position
Indicator 16.113.005
Explain the concepts of cash flow and profit/loss

Benchmark 16.114
Investigate Govt Regulations Affecting Financial Aspects of a Business
Indicator 16.114.001
Investigate the major govt agencies that regulate business finances
Indicator 16.114.002
Explain the importance of retention of records

Benchmark 16.115
Analyze the Impact of the Global Economy on American Business
Indicator 16.115.001
Analyze the impact of import/export issues on American business
Indicator 16.115.002
Analyze the impact of the balance of trade on American business
Indicator 16.115.003
Analyze the impact of exchange rates on American business
Indicator 16.115.004
Analyze the impact of tariffs, quotas & embargoes on American business
Indicator 16.115.005
Analyze the impact of free trade agreements on American business
Indicator 16.115.006
Analyze the impact of economic unions & trading blocks on US business
Standard 17

Benchmark 17.116
Complete Daily Business Forms
Indicator 17.116.001
Complete daily business forms

Benchmark 17.117
Record Cash Receipts
Indicator 17.117.001
Prepare a receipt when cash is received from a customer
Indicator 17.117.002
Record cash receipts using either manual or electronic methods

Benchmark 17.118
Record Receipts and Payments in Journals and Ledgers
Indicator 17.118.001
Identify cash receipts
Indicator 17.118.002
Identify disbursements
Indicator 17.118.003
Calculate net cash flow
Indicator 17.118.004
Prepare a cash flow statement
Indicator 17.118.005
Record receipts and payments in journals and post to ledgers

Benchmark 17.119
Prepare a Proof of Cash
Indicator 17.119.001
Determine that the amount of cash on hand agrees with the records

Benchmark 17.120
Maintain a Petty Cash System
Indicator 17.120.001
Maintain a petty cash system

Benchmark 17.121
Prepare Payroll Journals
Indicator 17.121.001
Prepare payroll journals

Benchmark 17.122
Analyze Spreadsheet Data
Indicator 17.122.001
Create, interpret, and present spreadsheet data
Standard 18

Benchmark 18.123
Analyze the Effects of Ethics on Business and Financial Management
Indicator 18.123.001
Compare and contrast ethical and unethical behavior
Indicator 18.123.002
Outline the effects of ethical decision-making on the business’s image
Indicator 18.123.003
Analyze the effects of ethical choices related to a variety of issues

Benchmark 18.124
Explain the Need for Confidentiality in the Workplace
Indicator 18.124.001
Explain the need for confidentiality in the workplace

Benchmark 18.125
Identify Short and Long-Term Options for Financial Planning
Indicator 18.125.001
Identify short-term options for financial planning & working capital
Indicator 18.125.002
Identify long-term options for financial planning & working capital

Benchmark 18.126
Prepare a Business Plan
Indicator 18.126.001
Prepare a business plan

Benchmark 18.127
Describe the Effects of Group Dynamics on Decision Making & Consensus
Indicator 18.127.001
Describe the effects of group dynamics on decision making & consensus
Standard 19

Benchmark 19.128
Explain Why Investing in Human Capital Benefits the Employer
Indicator 19.128.001
Assess opportunity costs/economic risks from human capital investment

Benchmark 19.129
Identify Characteristics of a Successful Entrepreneur
Indicator 19.129.001
List the characteristics of a successful entrepreneur

Benchmark 19.130
Explain How the Economy Benefits From Entrepreneurship
Indicator 19.130.001
Explain ways that an entrepreneur benefits the economy

Benchmark 19.131
Investigate Career Opportunities
Indicator 19.131.001
Research a variety of career options

Benchmark 19.132
Identify Interests, Aptitudes & Attitudes Related to Workplace Success
Indicator 19.132.001
Use a personality model to conduct a self-inventory of interests, etc.
Indicator 19.132.002
Match personality traits to those sought by employers

Benchmark 19.133
Prepare a Professional Portfolio
Indicator 19.133.001
Prepare a professional portfolio

Benchmark 19.134
Research a Company in Preparation for a Job Interview
Indicator 19.134.001
Locate Web resources on a company and gather information to prepare

Benchmark 19.135
Participate in Mock Interviews to Refine Interviewing Techniques
Indicator 19.135.001
Participate in mock interviews to refine interviewing techniques

Benchmark 19.136
Prepare Employment-Related Correspondence
Indicator 19.136.001
Prepare employment-related correspondence

Essential - Standard, benchmark, or indicator from the VDOE Standards of Learning document. In the absence of VDOE standards for a given course, content subject to testing such as AP and IB can be labeled Essential.
Expected - Standard, benchmark, or indicator added by the FCPS Program of Studies to provide a context, a bridge, or an enhancement to the Essential SBIs.
Extended - Standard, benchmark, or indicator added by the FCPS Program of Studies generally used to differentiate instruction for advanced learners (Honors/GT)