Title: Identify strategies for managing risk.
Course: Independent Living (22904-36)

Identification should include

- strategies, such as
  - avoiding risk
  - minimizing risk
  - assuming risk
  - transferring the risk (e.g., examples of different insurance policies)
- types of insurance
  - life (i.e., term)
  - auto
  - home/renters
  - medical
- costs and benefits of different insurance plans.

Teacher Resources:

- Empowering Futures, One Dollar at a Time, VCEE
- Teen Teach-In, Virginia Events Jump$tart! Financial Smarts for Students
- Financial Fitness, FCCLA

Process/Skill Questions:

Thinking

- What kinds of risk does a high school student face in a day?
- How can a student reduce risk without buying insurance?
- How is risk avoidable?
- What does it mean to be over-insured? Under-insured?

Communication

- How can one determine one’s 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 suggestions for diversifying investments?
- What investments are considered low-risk during uncertain economic times?