Discuss the implications of illegal or unethical insurance practices as related to health, life, and disability insurance.
Fundamentals of Financial Management
Foundational Standards
Incorporate safety procedures in handling, operating, and maintaining tools and machinery; handling materials; utilizing personal protective equipment; maintaining a safe work area; and handling hazardous materials and forces.
Demonstrate effective workplace and employability skills, including communication, awareness of diversity, positive work ethic, problem-solving, time management, and teamwork.
Explore the range of careers available in the field and investigate their educational requirements, and demonstrate job-seeking skills including resume-writing and interviewing.
Advocate and practice safe, legal, responsible, and ethical use of information and technology tools specific to the industry pathway.
Participate in a Career and Technical Student Organization (CTSO) to increase knowledge and skills and to enhance leadership and teamwork.
Discuss and demonstrate ways to value diversity.
Financial Management
Analyze and interpret financial data pertaining to cost-benefit analysis of a business decision.
Examples: benefits and costs associated with operating a business in a certain town or region
Create charts, graphs, and tables using financial data.
Analyze budgets and financial data to determine future financial needs.
Determine and analyze cash flow and profit margin, and perform cost-benefit analysis.
Explain financial management as it relates to income, savings, and investment opportunities.
Describe how a financial business benefits from the organizing management function.
Examples: time management, employee understanding of job duties, employee morale
Explain how managers use financial information.
Examples: planning strategies, executing strategies, using feedback from execution of a strategy
Investments and Risk Management
Evaluate risk management options available to consumers and entrepreneurs for protection against financial loss.
Examples: portfolio diversification, asset allocation
Analyze the risks, interest rate returns, and liquidity of various types of savings and investments.
Research and develop diversification strategies to reduce long-term risk and improve return on investment.
Examples: employer matching programs
Communication
Organize and effectively communicate financial information in terms clients can readily understand.
Examples: formal and informal presentations, memoranda
Financial Management
Apply organizational skills to manage financial operations.
Examples: synchronizing schedules and calendars, prioritizing tasks to meet deadlines
Explain how agencies that regulate national and international financial markets protect investors.
Develop and maintain a plan for a financial business.
Explain how effective debt and credit management practices affect insurance costs, job opportunities, and interest rates.
Analyze traditional and non-traditional sources of credit for suitability to particular situations, listing advantages and disadvantages of each type.
Analyze the impact of international, federal, state, and local regulations on financial management decisions.
Describe effects of tax structure on business decisions.
Compare and contrast legal rights and responsibilities related to financial management for various types of businesses.
Explain the role of the United States Securities and Exchange Commission in regulating financial markets.
Tax Liability
Determine tax liability as it pertains to the finances of a business.
