# CTE Resource Center - Verso - Business Law Related NBEA Achievement Standards for Personal Finance

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Related NBEA Achievement Standards for Personal Finance

NBEA Achievement Standards for Personal Finance

NBEA (National Business Education Association) standards have been correlated to ensure that students and adults are afforded equal access to fundamental business knowledge and skills and, therefore, an equal opportunity for success in life" (National Standards for Business Education, NBEA, 2007).

Analyze choices available to consumers for protection against risk and financial loss.

 

Analyze the sources of assistance for debt management.

 

Compare and contrast the different types of checking accounts offered by various financial deposit institutions.

 

Describe consumers rights, responsibilities and remedies, giving examples of each.

 

Develop recommended insurance coverage for individuals/families for various risks and different income levels

 

Differentiate among types of electronic monetary transactions (e.g., debit cards, ATM, and automatic deposits/payments) offered by various financial institutions.

 

Explain how all types of insurance are based on the concept of risk sharing and statistical probability.

 

Explain why insurance needs change throughout the life cycle.

 

Identify the type of insurance associated with different types of risk (e.g., automobile, personal and professional liability, home and apartment, health, life, long-term care, disability).

 

Research rights and responsibilities of consumers according to credit legislation (e.g., truth-in-lending, fair credit reporting, equal credit opportunity, and fair debt collection).