# CTE Resource Center - Verso - Independent Living Task 871652960

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Identify procedures for opening and managing an account in a financial institution.

Definition

Identification should include
  • keeping accurate records
  • reconciling a checkbook register with an account statement
  • paying fees (e.g., overdrafts, account maintenance fees, ATM fees).

Process/Skill Questions

Thinking
  • What are the advantages of using financial institutions instead of dealing in cash?
  • What types of financial institutions are available in your local area?
  • What information must you provide in order to open an account at a bank or credit union? What fees are associated with the account?
  • What are the benefits and risks of using online banking services?
  • What are the benefits and risks of using ATM cards, debit cards, and credit cards?
Communication
  • How do local financial institutions compare in the services they offer to customers?
  • What are your responsibilities in managing your financial accounts?
  • What are the responsibilities of your financial institution in managing your accounts?
Leadership
  • How does the use of financial institutions help you achieve your goals?
  • What leadership skills are necessary for effective financial management?
  • Why do people use stockbrokers if they can invest on their own, online?
Management
  • What steps would you take to manage a checking account?
  • What are the similarities between managing a debit card and writing checks? What are the differences?
  • How would you manage your family finances?
  • What are the consequences of not effectively managing your accounts?

Related Standards of Learning

English

8.6

The student will read, comprehend, and analyze a variety of nonfiction texts.
  1. Identify an author’s organizational pattern using textual clues, such as transitional words and phrases.
  2. Apply knowledge of text features and organizational patterns to analyze selections.
  3. Skim materials to develop an overview or locate information.
  4. Make inferences and draw conclusions based on explicit and implied information using evidence from text as support.
  5. Analyze the author’s qualifications, viewpoint, word choice, and impact.
  6. Analyze details for relevance and accuracy.
  7. Differentiate between fact and opinion.
  8. Identify the main idea.
  9. Summarize the text identifying supporting details.
  10. Identify cause and effect relationships.
  11. Evaluate, organize, and synthesize information for use in written and other formats.
  12. Analyze ideas within and between selections providing textual evidence.
  13. Use reading strategies to monitor comprehension throughout the reading process.

9.5

The student will read and analyze a variety of nonfiction texts.
  1. Apply knowledge of text features and organizational patterns to understand, analyze, and gain meaning from texts.
  2. Make inferences and draw conclusions based on explicit and implied information using evidence from text as support.
  3. Analyze the author’s qualifications, viewpoint, and impact.
  4. Recognize an author’s intended purpose for writing and identify the main idea.
  5. Summarize, paraphrase, and synthesize ideas, while maintaining meaning and a logical sequence of events, within and between texts.
  6. Identify characteristics of expository, technical, and persuasive texts.
  7. Identify a position/argument to be confirmed, disproved, or modified.
  8. Evaluate clarity and accuracy of information.
  9. Analyze, organize, and synthesize information in order to solve problems, answer questions, complete a task, or create a product.
  10. Differentiate between fact and opinion and evaluate their impact.
  11. Analyze ideas within and between selections providing textual evidence.
  12. Use the reading strategies to monitor comprehension throughout the reading process.

10.5

The student will read, interpret, analyze, and evaluate nonfiction texts.
  1. Analyze text features and organizational patterns to evaluate the meaning of texts.
  2. Recognize an author’s intended audience and purpose for writing.
  3. Skim materials to develop an overview and locate information.
  4. Compare and contrast informational texts for intent and content.
  5. Interpret and use data and information in maps, charts, graphs, timelines, tables, and diagrams.
  6. Draw conclusions and make inferences on explicit and implied information using textual support as evidence.
  7. Analyze and synthesize information in order to solve problems, answer questions, and generate new knowledge.
  8. Analyze ideas within and between selections providing textual evidence.
  9. Summarize, paraphrase, and synthesize ideas, while maintaining meaning and a logical sequence of events, within and between texts.
  10. Use reading strategies throughout the reading process to monitor comprehension.

11.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts including employment documents and technical writing.
  1. Apply information from texts to clarify understanding of concepts.
  2. Read and correctly interpret an application for employment, workplace documents, or an application for college admission.
  3. Analyze technical writing for clarity.
  4. Paraphrase and synthesize ideas within and between texts.
  5. Draw conclusions and make inferences on explicit and implied information using textual support.
  6. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  7. Analyze false premises, claims, counterclaims, and other evidence in persuasive writing.
  8. Recognize and analyze use of ambiguity, contradiction, paradox, irony, sarcasm, overstatement, and understatement in text.
  9. Generate and respond logically to literal, inferential, evaluative, synthesizing, and critical thinking questions about the text(s).

12.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts.
  1. Use critical thinking to generate and respond logically to literal, inferential, and evaluative questions about the text(s).
  2. Identify and synthesize resources to make decisions, complete tasks, and solve specific problems.
  3. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  4. Recognize and analyze use of ambiguity, contradiction, paradox, irony, overstatement, and understatement in text.
  5. Analyze false premises claims, counterclaims, and other evidence in persuasive writing.

Other Related Standards

FCCLA National Programs

Families First: Meet the Challenge

 

Financial Fitness: Earning

 

Financial Fitness: Protecting

 

Financial Fitness: Saving

 

Financial Fitness: Spending

 

Power of One: A Better You

 

FCCLA: STAR Events (2019)

National Programs in Action

 

Professional Presentation

 

National Standards for Family and Consumer Sciences Education

2.3.2

Analyze how policies become laws relating to consumer rights.

2.4.3

Assess the use of technology and its effect on quality of life.

2.5.3

Analyze economic effects of laws and regulations that pertain to consumers and providers of services.

2.6.1

Evaluate the need for personal and family financial planning.

2.6.4

Evaluate personal and legal documents related to effective management of individual and family finances.

3.3.1

Explain the effects of the economy on personal income, individual and family security, and consumer decisions.

3.3.3

Analyze the effect of consumer credit on short- and long-term financial planning.

3.3.4

Compare investment and savings alternatives.

3.3.5

Examine the effects of risk management strategies on long-term financial planning.