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?