Identification should include
- reasons for purchasing or not purchasing insurance
- avoiding risk
- minimizing risk
- assuming risk
- transferring the risk (e.g., examples of different insurance policies)
- types of insurance
- weighing costs and benefits of different insurance plans.
Process/Skill Questions:
Thinking
- How is financial risk avoidable?
- What are the different types of insurance offered?
- What does it mean to be over-insured? Under-insured?
Communication
- How can you determine your true financial risk when dealing with lending institutions?
- What protects consumers from making poor borrowing decisions?
- How do banks use risk assurance to attract customers?
Leadership
- How do insurance companies profit?
- Why do leaders, entrepreneurs, and business owners take risks?
Management
- What is the relationship between investment and risk?
- What are your suggestions for diversifying your investments?
- What are investments that are considered low-risk during uncertain economic times?
Teacher Resources: