Standard 4 : Describe the advantages and disadvantages of financial and investment plans, including insurances.



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General Information

Number: MA.912.FL.4
Title: Describe the advantages and disadvantages of financial and investment plans, including insurances.
Type: Standard
Subject: Mathematics (B.E.S.T.)
Grade: 912
Strand: Financial Literacy

Related Benchmarks

This cluster includes the following benchmarks
Code Description
MA.912.FL.4.1: Calculate and compare various options, deductibles and fees for various types of insurance policies using spreadsheets and other technology.
Clarifications:
Clarification 1: Insurances include medical, car, homeowners, life and rental car. 

Clarification 2: Instruction includes types of insurance for a business and for an individual.

MA.912.FL.4.2: Compare the advantages and disadvantages for adding on a one-time warranty to a purchase using spreadsheets and other technology.
Clarifications:
Clarification 1: Warranties include protection plans from stores, car warranty and home protection plans.

Clarification 2: Instruction includes types of warranties for a business and for an individual. 

Clarification 3: Instruction includes taking into consideration the risk of utilizing or not utilizing a one-time warranty on one or multiple purchases.

MA.912.FL.4.3: Compare the advantages and disadvantages of various retirement savings plans using spreadsheets and other technology.
Clarifications:
Clarification 1: Instruction includes weighing options based on salary and retirement plans from different potential employers. 

Clarification 2: Instruction includes understanding the need to build one’s own retirement plan when starting a business.

MA.912.FL.4.4: Collect, organize and interpret data to determine an effective retirement savings plan to meet personal financial goals using spreadsheets and other technology.
Clarifications:
Clarification 1: Instruction includes students researching the latest information on different retirement options. 

Clarification 2: Instruction includes the understanding of the relationship between salaries and retirement plans. 

Clarification 3: Instruction includes retirement plans from the perspective of a business and of an individual. 

Clarification 4: Instruction includes the comparison of different types of retirement plans, including IRAs, pensions and annuities.

MA.912.FL.4.5: Compare different ways that portfolios can be diversified in investments.
Clarifications:
Clarification 1: Instruction includes diversifying a portfolio with different types of stock and diversifying a portfolio by including both stocks and bonds.
MA.912.FL.4.6: Simulate the purchase of a stock portfolio with a set amount of money, and evaluate its worth over time considering gains, losses and selling, taking into account any associated fees.


Related Access Points

This cluster includes the following access points.

Access Points

Access Point Number Access Point Title
MA.912.FL.4.AP.1: Compare various options, deductibles and fees for various types of individual insurance policies, such as medical, car and/or homeowners’ insurance.
MA.912.FL.4.AP.2: Compare the risk of utilizing or not utilizing a one-time warranty.
MA.912.FL.4.AP.3: List the advantages and disadvantages of having a retirement savings plan.
MA.912.FL.4.AP.4: Select a retirement savings plan to meet a given personal financial goal.
MA.912.FL.4.AP.5: List an advantage of diversifying investments.
MA.912.FL.4.AP.6: Simulate the buying and selling of a single stock and identify its worth over time.


Related Resources

Vetted resources educators can use to teach the concepts and skills in this topic.

Lesson Plan

Name Description
Select a Healthcare Plan:

Students are asked to determine a procedure for ranking healthcare plans based on their assumptions and the cost of each plan given as a function. Then, they are asked to revise their ranking based on a new set of data.