# CTE Resource Center - Verso - Army JROTC IV Task 723682571

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Explain the importance of financial planning.

Definition

Explanation should include
  • identifying the advantages of using credit
  • identifying the various costs related to credit
  • comparing common sources for building credit
  • examining the factors to consider to establish credit
  • identifying general types of insurance
    • health
    • property
    • life
    • disability
    • liability
  • identifying the costs associated with insurance coverage
  • describing how insurance works.

Process/Skill Questions

  • Why is it important to establish credit?
  • What are some factors one should consider when establishing credit?
  • Why is it important to use credit wisely?
  • Why is it important to have insurance coverage?
  • What types of strategies can be utilized to mitigate financial risk?

Related Standards of Learning

English

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.