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A Correlation of

Personal Financial Literacy

To the

Texas Essential Knowledge and Skill Financial Mathematics Standards

©2015

A Correlation of Personal Financial Literacy ©2014 to theTEKS Financial Mathematics Standards ©2015

INTRODUCTION

This document demonstrates how Prentice Hall’s Personal Financial Literacy meets the TEKS Financial Mathematics Standards, ©2015. Correlation page references are to the Student Edition and are cited at the page level. The Annotated Teacher’s Edition includes point-of-use questions, hints, guidelines, and answers and solutions to all in-text questions and problems.

Personal Financial Literacy takes the essential principles of personal finance, as defined by national standards, and makes them accessible and applicable to today's students. The clear presentation and flexibility make Personal Financial Literacy the ideal resource for any type of class structure. The design was planned to be engaging and accessible; the text captures student interest and drives mastery of the principles of personal finance.

The Pearson Advantage:

Provides Flexibility - Available in two formats: as a 15-chapter single-volume or in 4 separate modules. You choose the format and content that best fits your needs.

Individual Student Edition Modules Financial Responsibility and Decision Making Income and Careers Spending and Credit Savings and Investing

Real-World Situations The Personal Financial Literacy Workbook includes open response questions,

additional vocabulary review exercises, and personal finance worksheets. The 30-day Personal Finance Journal helps students record their daily spending

down to the smallest purchase.

Assessment - End-of-chapter features allow for multiple assessment opportunities while also providing students the chance to employ critical thinking, math, cross-disciplinary, ethical reasoning, and team-building skills.

Technology - MyFinLitLab™ is a fully integrated homework and tutorial system that offers textbook problems online, algorithmically generated values for more practice, partial credit, personalized study plans, and an online grade book. Students and teachers are granted access to MyFinLitLab™ with purchase of the single-volume textbook. The system is also available for purchase with any unit or as a stand-alone item.

Copyright ©2017 Pearson Education, Inc. or its affiliate(s). All rights reserved

TEKS Financial Mathematics Standards©2015

Personal Financial Literacy©2014

130.180. Financial Mathematics Adopted 2015. (a) General requirements. This course is recommended for students in Grades 10-12. Prerequisite: Algebra I. This course satisfies a high school mathematics graduation requirement. Students shall be awarded one credit for successful completion of this course.

2Key: SE = Student Editon; TE = Teacher’s Edition; MW-PFL = Math Workbook




Introduction(1) Career and technical education instruction provides content aligned with challenging academic standards and relevant technical knowledge and skills for students to further their education and succeed in current or emerging professions. (2) The Finance Career Cluster focuses on planning, services for financial and investment planning, banking, insurance, and business financial management. (3) Financial Mathematics is a course about personal money management. Students will apply critical-thinking skills to analyze personal financial decisions based on current and projected economic factors. (4) Financial Mathematics will integrate career and postsecondary education planning into financial decision making. (5) The mathematical process standards describe ways in which students are expected to engage in the content. The placement of the process standards at the beginning of the knowledge and skills listed for each grade and course is intentional. The process standards weave the other knowledge and skills together so that students may be successful problem solvers and use mathematics efficiently and effectively in daily life. The process standards are integrated at every grade level and course. When possible, students will apply mathematics to problems arising in everyday life, society, and the workplace. Students will use a problem-solving model that incorporates analyzing given information, formulating a plan or strategy, determining a solution, justifying the solution, and evaluating the problem-solving process and the reasonableness of the solution. Students will select appropriate tools such as real objects, manipulatives, paper and pencil, and technology and techniques such as mental math, estimation, and number sense to solve problems. Students will effectively communicate mathematical ideas, reasoning, and their implications using multiple representations such as symbols, diagrams, graphs, and language. Students will use mathematical relationships to generate solutions and make connections and predictions. Students will analyze mathematical relationships to connect and communicate mathematical ideas. Students will display, explain, or justify mathematical ideas and arguments using precise mathematical language in written or oral communication. (6) Students are encouraged to participate in extended learning experiences such as career and technical student organizations and other leadership or extracurricular organizations. (7) Statements that contain the word "including" reference content that must be mastered, while those containing the phrase "such as" are intended as possible illustrative examples.

Knowledge and skills (1) The student demonstrates professional standards/employability skills as required by business and industry. The student is expected to:





A) demonstrate an understanding of appropriate communication with customers, employers, and coworkers through verbal, nonverbal, or digital means;

SE/TE: Chapter 2: p. 33 Chapter Review: Teamwork; Chapter 3: p. 49 Chapter Review: Teamwork; Chapter 4: p. 65 Chapter Review: Teamwork; Chapter 5: pp. 77-78 Sources of Career Information, p. 90 Chapter Review: Teamwork; Chapter 6: p. 112 Chapter Review: Teamwork; Chapter 7: p. 131 Chapter Review: Teamwork; Chapter 8: p. 150 Chapter Review: Teamwork; Chapter 9: p. 170 Chapter Review: Teamwork; Chapter 10: p. 193 Chapter Review Teamwork; Chapter 11: p. 217 Chapter Review: Teamwork; Chapter 12: pp. 240-241 Chapter Review: Teamwork; Chapter 13: p. 260 Chapter Review: Teamwork; Chapter 14: p. 283 Chapter Review: Teamwork; Chapter 15: p. 302 Chapter Review: Teamwork

(B) demonstrate an understanding of the use of business etiquette;

For supporting content please see:SE/TE: Chapter 5: p. 78 Internships; p. 85 Figure 5.6; p. 89 Chapter Review: What Would You Do?

(C) demonstrate an understanding of appropriate customer service such as building customer relationships and resolving customer complaints; and

Personal Financial Literacy provides the essential principles of personal finance, therefore customer service falls outside the program curriculum.

(D) demonstrate an understanding of ethical and legal issues in business.

SE/TE: Chapter 1: p. 15 Chapter Review: What Would You Do?; Chapter 5: p. 89 Chapter Review: What Would You Do?; Chapter 6: p. 111 Chapter Review: What Would You Do?; Chapter 10: p. 192 Chapter Review: What Would You Do?; Chapter 11: p. 216 Chapter Review: What Would You Do?; Chapter 14: p. 281 Chapter Review: What Would You Do?; Chapter 15: p. 301 Chapter Review: What Would You Do?

(2) The student uses mathematical processes to acquire and demonstrate mathematical understanding. The student is expected to:





(A) apply mathematics to problems arising in everyday life, society, and the workplace;

This objective is addressed throughout. See, for example: SE/TE: Chapter 1: pp. 9-10 Emergencies/Rainy Day Fund; Chapter 2: p. 31 Chapter Review: What Are Your Finance Math Skills?; Chapter 3: p. 42 Math for Personal Finance; Chapter 4: p. 65 Chapter Review: What Would You Do?

MW-PFL: Chapter 1: Basic Financial Math: Concepts #1, #2, #3, #4, #5, #6, Open Responses #1, #2; Chapter 2: The Financial Plan: Calculating Opportunity Cost and Income: Concepts #1, #2, #3; Chapter 3: Financial Decision Making: Calculating Cash Flows: Concept #1; Chapter 6: Taxes and Financial Planning: Concept #2, Open Response #1

(B) use a problem-solving model that incorporates analyzing given information, formulating a plan or strategy, determining a solution, justifying the solution, and evaluating the problem-solving process and the reasonableness of the solution;

SE/TE: Chapter 3: pp. 40-46 Step-By-Step Decision Making Process, p. 49 Chapter Review: What Are the Connections?, p. 50 Chapter Review: Essential Question Activities





(C) select tools, including real objects, manipulatives, paper and pencil, and technology as appropriate, and techniques, including mental math, estimation, and number sense as appropriate, to solve problems;

This objective is addressed throughout. See, for example: SE/TE: Chapter 3: p. 42 Math for Personal Finance; Chapter 4: p. 65 Chapter Review: What Are the Connections?; Chapter 6: p. 96 Math for Personal Finance; Chapter 7: p. 131 Chapter Review: What Are the Connections?; Chapter 8: p. 139 Math for Personal Finance; Chapter 11: pp. 216-217 Chapter Review: What Are the Connections?; Chapter 12: p. 229 Math for Personal Finance, p. 240 Chapter Review: What Are the Connections?; Chapter 15: p. 294 Math for Personal Finance; Chapter 15: p. 301 Chapter Review: What Are the Connections?

MW-PFL: Chapter 2: The Financial Plan: Calculating Opportunity Cost and Income: Concept #3; Chapter 7: Insurance: Life & Health: Concept #2; Chapter 9: Credit Calculations: Concepts #1, #2, Open Responses #1, #2; Appendix: Mortgages

(D) communicate mathematical ideas, reasoning, and their implications using multiple representations, including symbols, diagrams, graphs, and language as appropriate;

SE/TE: Chapter 2: p. 32 Chapter Review: What Are the Connections?;, p. 33 Chapter Review: Teamwork; Chapter 3: p. 50 Chapter Review: Essential Question Activities; Chapter 4: p. 65 Chapter Review: What Are the Connections?; Chapter 7: p. 131 Chapter Review: What Are the Connections?; Chapter 11: pp. 216-217 Chapter Review: What Are the Connections?

MW-PFL: Chapter 12: Banking: Concept #3; Appendix: Supply and Demand





(E) create and use representations to organize, record, and communicate mathematical ideas;

SE/TE: Chapter 2: p. 32 Chapter Review: What Are the Connections?, p. 33 Chapter Review: Teamwork; Chapter 3: p. 50 Chapter Review: Essential Question Activities; Chapter 4: p. 65 Chapter Review: What Are the Connections?; Chapter 6: p. 112 Chapter Review: Essential Question Activities; Chapter 7: p. 131 Chapter Review: What Are the Connections?; Chapter 14: p. 283 Chapter Review: Teamwork

MW-PFL: Chapter 12: Banking: Concept #3; Appendix: Supply and Demand

(F) analyze mathematical relationships to connect and communicate mathematical ideas; and

MW-PFL: Appendix: Supply and Demand

(G) display, explain, and justify mathematical ideas and arguments using precise mathematical language in written or oral communication.

SE/TE: Chapter 2: p. 32-33 Chapter Review: What Are the Connections?; Chapter 6: p. 112 Chapter Review: What Are the Connections?, Essential Question Activities

(3) The student applies mathematical process standards to demonstrate an understanding of employment earnings. The student is expected to:

(A) identify sources of income, including wages and salaries, interest, rent, dividends, and capital gains;

SE/TE: Chapter 2: pp. 24-25 Step 2: Establishing Your Income; Chapter 3: pp. 42-43 Step 2: Evaluate Your Current Financial Position; Chapter 6: pp. 105-106 Gross Income or Total Income; Chapter 14: p. 278 Real Estate

MW-PFL: Chapter 2: The Financial Plan: Calculating Opportunity Cost and Income: Concept #2; Chapter 6: Taxes and Financial Planning: Concept #2; Chapter 14: Investing: Open Response #2

(B) compare common employee benefits such as health insurance, sick leave, and retirement plans;

SE/TE: Chapter 7: pp. 118-119 Sources of Health Insurance, pp. 126-127 Getting Insurance; Chapter 13: pp. 255-256 Employer-Sponsored Retirement Plans





(C) differentiate among and calculate gross, net, and taxable income;

SE/TE: Chapter 6: p. 96 Paragraph 1, pp. 105-106 Gross Income or Total Income, p. 106 Math for Personal Finance, p. 109 Chapter Review: What Do You Know? #1, p. 110 #6

MW-PFL: Chapter 6: Taxes and Financial Planning: Concept #2, #4, Open Response #1; Chapter 13: Savings: Concept #4

(D) analyze and interpret payroll deductions, including federal taxes, state taxes, and city taxes, using current tax rates;

SE/TE: Chapter 6: pp. 97-98 Payroll Taxes, pp. 98-99 The Internal Revenue Service, pp. 102-104 Understanding Payroll Taxes, p. 112 Chapter Review: What Are the Connections?

MW-PFL: Chapter 6: Taxes and Financial Planning: Concept #3, #4

(E) examine and evaluate the reasons for federal income taxation, Social Security taxation, and Medicare taxation, including earnings limitations as applicable;

SE/TE: Chapter 6: pp. 98-99 The Internal Revenue Service, pp. 102-103 Social Security and Medicare, p. 109 Chapter Review: Key Terms and Concepts #1, #2

(F) calculate net pay; SE/TE: Chapter 6: p. 96 Paragraph 1, p. 109 Chapter Review: What Do You Know? #1

MW-PFL: Chapter 6: Taxes and Financial Planning: Open Response #1

(G) compare and contrast between independent contractor earnings and employee earnings, including tax requirements, tax forms (W-2, W-4, 1099, and Form 941), and benefit requirements;

SE/TE: Chapter 6: pp. 97-98 Payroll Taxes, pp. 105-106 Gross Income or Total Income

(H) calculate the various earnings as affected by the laws related to minimum wage, overtime, income from tips, exempt and non-exempt status, and contract and employee status;

SE/TE: Chapter 6: pp. 97-98 Payroll Taxes, p. 107 Deductions and Exemptions

MW-PFL: Chapter 6: Taxes and Financial Planning: Concept #2

(I) calculate the impact of paying with after-tax dollars versus pre-tax dollars for items such as medicine, services, and investments;

MW-PFL: Chapter 14: Investing: Concept #2, Open Response #1





(J) analyze and interpret total compensation, including payroll, Federal Insurance Contribution Act (FICA) tax, employer cost of benefits, employers' matching costs for FICA and Medicare, and employer match in savings plans, to explain how compensation is more than what is reflected in a paycheck

SE/TE: Chapter 6: pp. 102-103 Understanding Payroll Taxes, p. 111 Chapter Review: #6; Chapter 7: p. 119 Figure 7.1, pp. 126-127 Getting Insurance; Chapter 8: pp. 140-141 Social Security; Chapter 13: pp. 255-256 Employer-Sponsored Retirement Plans


(K) compare total compensation as a self-employed or independent contractor with total compensation as an employee; and

SE/TE: Chapter 6: pp. 97-98 Payroll Taxes, pp. 105-106 Gross Income or Total Income

(L) analyze how economic and other conditions can affect income and career opportunities and the need for lifelong training and education.

SE/TE: Chapter 5: pp. 72-77 Determining a Career Path, pp. 79-81 Getting the Skills You Need, p. 90 Chapter Review: Teamwork; Chapter 8: p. 148 Chapter Review: What Do You Know? #9b

(4) The student applies mathematical process standards to demonstrate an understanding of the various federal taxes. The student is expected to:(A) calculate federal income taxes owed or refunded, including the completion of a 1040EZ and 1040, using current rates;

SE/TE: Chapter 6: pp. 100-101 Figure 6.2, pp. 104-108 Filing Taxes, p. 111 Chapter Review: What Are Your Finance Math Skills? #4

(B) calculate capital gains tax using current rates;

SE/TE: Chapter 6: p. 105 Gross Income or Total Income, p. 111 Chapter Review: What Are Your Finance Math Skills? #5

(C) calculate self-employment or independent contractor taxes using current rates;

SE/TE: Chapter 6: pp. 97-98 Payroll Taxes

(D) define and locate sources for current rates for estate and inheritance taxes;

SE/TE: Chapter 15: p. 297 Estate Taxes, Finance Online

(E) analyze gift and estate taxes using current rates;

SE/TE: Chapter 15: p. 297 Estate Taxes, Finance Online

(F) calculate tax on interest income and use regression methods available through technology to analyze data and interpret the results by tax bracket;

SE/TE: Chapter 6: pp. 105-106 Gross Income or Total Income, p. 110 What Are Your Finance Math Skills? #3

MW-PFL: Chapter 6: Taxes and Financial Planning: Concepts #2, #4





(G) calculate personal exemptions; SE/TE: Chapter 6: p. 107 Deductions and Exemptions, p. 110 Chapter Review: What Do You Know? #8, p. 111 Chapter Review: What Are Your Finance Math Skills? #8

(H) calculate itemized deductions and compare to standard deductions;

SE/TE: Chapter 6: p. 107 Deductions and Exemptions, p. 110 Chapter Review: What Do You Know? #8, p. 111 Chapter Review: What Are Your Finance Math Skills? #8

MW-PFL: Chapter 6: Taxes and Financial Planning: Concept #4; Chapter 13: Savings: Concept #4

(I) calculate deductible charitable contributions;

SE/TE: Chapter 6: p. 107 Deductions and Exemptions, p. 110 Chapter Review: What Do You Know? #8, p. 111 Chapter Review: What Are Your Finance Math Skills? #8

(J) understand filing status as it applies to X, Y, and Z tax schedules;

For supporting content please see:SE/TE: Chapter 6: p. 103 Figure 6.3, p. 105 Filing Status, p. 110 Chapter Review: What Do You Know? #5


(K) compare marginal tax rates to effective income tax rates and the misuse of these terms in advertising;

For supporting content please see:MW-PFL: Chapter 13: Savings: Concept #4, Open Response #2

(L) describe the relationships among education tax credit, student loan interest, dependency and filing status, and income tax liability; and

SE/TE: Chapter 6: p. 105 Filing Status, p. 115 Chapter Review: Test Prep Questions #11; Chapter 10: pp. 185-186 Financing Your Education

(M) research and locate options for tax return preparation such as software programs and tax preparation providers.

SE/TE: Chapter 6: p. 99 Finance Online, p. 108 Taxes and Your Financial Plan, p. 110 Chapter Review: What Do You Know? #10b, p. 114 Chapter Review: Test Prep Questions #9

(5) The student applies mathematical process standards to demonstrate an understanding of the various financial institutions and accounts. The student is expected to:





(A) demonstrate an understanding of various forms of financial exchange, including cash, checks, credit cards, debit cards, and electronic funds transfers;

SE/TE: Chapter 11: pp. 200-204 How Credit Cards Work; Chapter 12: pp. 227-228 How Checking Accounts Work, p. 228 Debit Cards, p. 231 Cashier’s Checks, Money Orders, and Traveler’s Checks, pp. 231-232 Arrangements for Credit Payment, p. 237 Chapter Review: Key Terms and Concepts #3, p. 238 Chapter Review: What Do You Know? #5

MW-PFL: Chapter 12: Banking: Concept #1, #2, #3, Open Response #1, #2

(B) identify and explain the advantages and disadvantages of interest-bearing accounts such as savings accounts, checking accounts, certificates of deposits, and money market accounts;

SE/TE: Chapter 12: pp. 227-231 Banking Basics: Checking Accounts; Chapter 13: pp. 249-251 Types of Bank Accounts

(C) calculate the time value of money, with or without technology, using exponential and rational functions that include graphs, tables, and algebraic methods related to simple and compound interest;

SE/TE: Chapter 15: pp. 290-293 Time Value of Money, p. 294 Math for Personal Finance, p. 299 Chapter Review: What Do You Know? #1, p. 300 Chapter Review: What Are Your Finance Math Skills?

MW-PFL: Chapter 15: Time Value of Money: Concepts #1, #2, #3, #4, #5, #6, Open Responses #1, #2

(D) analyze various representations of exponential functions with respect to compound interest situations and use the rule of 72 to determine the number of years it will take for savings to double in value;

SE/TE: Chapter 15: p. 292 Math for Personal Finance, p. 293 Rule of 72, Math for Personal Finance, Finance Online, p. 299 Chapter Review: Key Terms and Concepts #3, p. 300 Chapter Review: What Are Your Finance Math Skills?, p. 303 Chapter Review: Test Prep Questions #5

MW-PFL: Chapter 13: Savings: Concepts #1, #2, #3

(E) analyze a bank statement for accuracy; SE/TE: Chapter 12: pp. 229-230 Balancing Your Account, p. 238 Chapter Review: What Do You Know? #4, p. 240 What Are the Connections?, p. 241 Essential Question Activities

MW-PFL: Chapter 12: Banking: Concept #3, Open Response #1





(F) compare financial services offered in the community; and

SE/TE: Chapter 1: pp. 11-12 Judging the Advice of Financial Planners/Advisors and Financial Information, p. 14 Chapter Review: What Do You Know? #8; Chapter 12: pp. 226-227 Banks and Financial Institutions, p. 227 Finance Online, pp. 231-232 Other Banking Services, p. 237 Chapter Review: Key Terms and Concepts, #2, p. 238 Chapter Review: What Do You Know? #1

(G) identify the sources of funds such as savings, earnings, or debt to be used to purchase consumable and non-consumable goods.

SE/TE: Chapter 4: pp. 54-57 Creating a Budget, p. 56 Figure 4.2, p. 62 Figure 4.5, p. 65 Chapter Review: What Are the Connections?; Chapter 10: pp. 176-179 Personal Loans, pp. 180-181 Mortgage Loans, pp. 186-189 Financing Your Car, pp. 192-193 Chapter Review: What Are the Connections?

(6) The student applies mathematical process standards to demonstrate an understanding of the various types of credit. The student is expected to:(A) determine the advantages and disadvantages of credit cards such as cashback rewards, balance transfer, foreign currency, interest rates charged, late payment fees, credit score, and bonus incentives;

SE/TE: Chapter 9: p. 157 Advantages of Using Credit, pp. 157-158 Disadvantages of Using Credit, pp. 161-163 Credit Score; Chapter 11: pp. 200-204 How Credit Cards Work, pp. 204-207 Credit Card Features, pp. 208-210 Tips on Using Credit Cards, p. 214 Chapter Review: What Do You Know? #1, p. 218 Chapter Review: Essential Question Activities #2

(B) calculate the cost of using credit cards, including various financial fees;

SE/TE: Chapter 11: pp. 202-203 Figure 11.2, pp. 205-206 Incentives to Use the Card, pp. 206-207 Financing or Interest Charges, pp. 208-210 Tips on Using Credit Cards, pp. 216-217 What Are the Connections?

MW-PFL: Chapter 11: Credit Cards: Concepts #1 #2, Open Response #1

(C) analyze and compare graphically, with or without technology, the differences in the cost of borrowing such as using a bank loan, a credit union loan, a student loan, and an easy-access loan such as a pay-day loan and an auto title loan;

SE/TE: Chapter 10: pp. 176-179 Personal Loans, p. 180 Mortgage Loans, pp. 181-182 Home Equity Loans, pp. 185-186 Financing Your Education, pp. 186-189 Financing Your Car; Chapter 11: pp. 210-213 Other Risky Credit Arrangements, p. 215 Chapter Review: What Do You Know? #8, #9





(D) analyze the risks for each type of loan; SE/TE: Chapter 10: pp. 180-181 Mortgage Loans, pp. 181-182 Home Equity Loans; Chapter 11: 210-213 Other Risky Credit Arrangements

(E) evaluate the process for a bank loan or a credit union loan;

SE/TE: Chapter 10: pp. 177-178 The Personal Loan Process

(F) collect and organize data, make and interpret scatterplots, interpret the results, and make critical judgments about loan balances when equal monthly payments are made;

For supporting content please see:SE/TE: Chapter 9: p. 156 Math for Personal Finance; Chapter 10: p. 178 Finance Online, p. 179 Math for Personal Finance, p. 186 Math for Personal Finance, p. 191 Chapter Review: What Are Your Finance Math Skills? #1

MW-PFL: Chapter 10: Personal Loans: Houses and Cars: Concept #1; Appendix: Mortgages

(G) analyze credit scores and explain the meanings of the scores;

SE/TE: Chapter 9: p. 160 Finance Online, pp. 161-163 Credit Score, p. 163 Figure 9.5, p. 168 Chapter Review: What Do You Know? #7, pp. 170-171 Chapter Review: Essential Question Activities

(H) explain ways a negative credit report can affect a consumer's financial options; and

SE/TE: Chapter 9: p. 161 Credit Reports, p. 166 Monitor Your Credit Report, p. 169 Chapter Review: What Would You Do?

(I) analyze a personal credit report. SE/TE: Chapter 9: p. 161 Finance Online, p. 162 Figure 9.3, p. 166 Monitor Your Credit Report, p. 168 Chapter Review: What Do You Know? #6

(7) The student applies mathematical process standards to demonstrate an understanding of the cost of housing by comparing home purchases and renting. The student is expected to:(A) analyze data of mortgage payments with various additional principal payments involving exponential functions using tables, graphs, or algebraic methods;

SE/TE: Chapter 10: pp. 180-181 Mortgage Loans, p. 192 Chapter Review: What Are Your Finance Math Skills? #6, #7






(B) create an amortization table using technology to collect and organize data to make decisions and critical judgments about varying the down payment, period of loan, special principal payment, and interest rate for a home loan;

For supporting content please see:SE/TE: Chapter 10: pp. 180-181 Mortgage Loans, p. 192 Chapter Review: What Are Your Finance Math Skills? #6, #7

MW-PFL: Appendix: Mortgages

(C) compare options for saving for a down payment on a home;

SE/TE: Chapter 10: p. 182 Buying Versus Renting a Home; Chapter 13: p. 252 APY and Comparing Savings Options


(D) determine costs associated with home ownership, including property taxes; mortgage insurance; homeowner's insurance, including property damage, liability, and flood and earthquake insurances; and closing costs;

SE/TE: Chapter 10: pp. 179-184 Financing a Home, p. 184 Figure 10.4, p. 191 Chapter Review: What Do You Know? #6, #7


(E) analyze and interpret mortgage tax deductions;

SE/TE: Chapter 6: p. 107 Deductions and Exemptions, p. 110 Chapter Review: What Do You Know? #9


(F) determine other costs associated with home ownership, including cost of maintenance, repairs, utilities, and association fees;

SE/TE: Chapter 10: p. 181 Other Costs of Buying a Home, p. 191 Chapter Review: What Do You Know? #6


(G) determine the appropriate savings needed to maintain home payments in the event of a financial emergency;

SE/TE: Chapter 1: pp. 9-10 Emergencies/Rainy Day Fund; Chapter 8: pp. 142-144 Business Cycles; Chapter 14: pp. 268-269 Why Invest?

(H) demonstrate an understanding of the consequences to individuals in times of recession and falling home prices such as during the mortgage crisis of 2007-2008 and identify how the financial and personal impact could have been reduced;

SE/TE: Chapter 8: pp. 142-144 Business Cycles, p. 150 Chapter Review: Essential Question Activities

(I) compare the cost of homeownership versus renting, identifying benefits and drawbacks to both homeownership and renting such as the mortgage-related income tax deductions;

SE/TE: Chapter 6: p. 107 Deductions and Exemptions, p. 110 Chapter Review: What Do You Know? #9; Chapter 10: pp. 182-183 Buying Versus Renting a Home





(J) use the multiple listing service to identify and compare housing properties;


(K) analyze and explain a typical apartment lease such as terms, deposit, occupancy, parking, and cancellation contract policy; and

SE/TE: Chapter 10: p. 183 Bulleted Paragraph

(L) compare options for coverage for renter's insurance.

SE/TE: Chapter 10: pp. 183-184 The Importance of Homeowner’s and Renter’s Insurance, p. 184 Figure 10.4

(8) The student applies mathematical process standards to demonstrate an understanding of the difference between a vehicle purchase and a vehicle lease and costs associated with each. The student is expected to:(A) create an amortization table using technology to collect and organize data to make decisions and critical judgments about varying the down payment, period of loan, special principal payment, and interest rates for a vehicle loan;

For supporting content please see:SE/TE: Chapter 10: pp. 186-188 Financing Your Car, p. 191 Chapter Review: What Are Your Finance Math Skills? #1, pp. 192-193 Chapter Review: What Are the Connections?

MW-PFL: Chapter 10: Personal Loans: Houses and Cars: Concept #1, #2, Open Response #2

(B) determine the costs associated with owning and leasing a vehicle, including insurance, maintenance, repairs, and fuel;

SE/TE: Chapter 10: pp. 187-189 Leasing Versus Buying a Car, p. 188 Figure 10.5, p. 189 The Importance of Car Insurance, pp. 192-193 Chapter Review: What Are the Connections?

(C) compare the total cost of buying and owning a vehicle to leasing a vehicle;

SE/TE: Chapter 10: pp. 187-188 Leasing Versus Buying a Car, p. 191 Chapter Review: What Do You Know? #9, p. 197 Chapter Review: Test Prep Questions #18

(D) compare the total cost of purchase and maintenance of several possible vehicles;

SE/TE: Chapter 1: p. 10 Math for Personal Finance; Chapter 10: pp. 192-193 Chapter Review: What Are the Connections?

(E) identify and understand the costs and benefits of maintenance contracts and vehicle warranties;

SE/TE: Chapter 10: pp. 186-189 Financing Your Car, pp. 192-193 Chapter Review: What Are the Connections?

(F) calculate the funding needed to maintain vehicle payments in the event of a financial emergency; and

For supporting content please see:SE/TE: Chapter 1: pp. 9-10 Emergencies/Rainy Day Fund; Chapter 8: pp. 142-144 Business Cycles; Chapter 14: pp. 268-269 Why Invest?





(G) research various options for a driver's education course and the benefits of the course and the impact of a moving violation on insurance rates.

For supporting content please see:SE/TE: Chapter 14: p. 189, The Importance of Car Insurance

(9) The student applies mathematical process standards to demonstrate an understanding of investment options. The student is expected to:(A) identify the factors involved in the various methods of buying and selling stocks and mutual funds, including load and no-load funds, by evaluating the stock dividend yield, price-earnings ratio, return on investment, earnings per share, and net asset value;

SE/TE: Chapter 14: pp. 269-274 Investing in Stocks, pp. 276-277 Mutual Funds, pp. 280-281 Chapter Review: What Are Your Finance Math Skills?; Chapter 15: p. 295 Risk and Return Trade-Off

(B) calculate the cost of buying and selling bonds and analyze the investment return from bond yield and bond interest payment;

SE/TE: Chapter 14: pp. 274-276 Investing in Bonds, p. 280 Chapter Review: What Do You Know? #8, What Are Your Finance Math Skills? #3, p. 281 Chapter Review: What Are Your Finance Math Skills? #5, #8

MW-PFL: Chapter 14: Investing: Concept #4, Open Response #2

(C) compare differences among investments, including stocks, bonds, mutual funds, Exchange Traded Funds, and real estate; and

SE/TE: Chapter 14: pp. 269-274 Investing in Stocks, pp. 274-276 Investing in Bonds, pp. 276-277 Mutual Funds, pp. 277-278 Other Ways of Investing, pp. 279-280 Chapter Review: What Do You Know?

(D) compare the risk and return for a diversified and non-diversified investment portfolio in a student-created portfolio.

SE/TE: Chapter 15: pp. 294-295 Managing Your Investments, p. 300 Chapter Review: What Do You Know? #8, p. 304 Chapter Review: Test Prep Questions #8

MW-PFL: Chapter 14: Investing: Open Response #1

(10) The student applies mathematical process standards to demonstrate an understanding of various types of insurance, including life, health, disability, and income insurances, and special protection. The student is expected to:(A) analyze the costs and benefits of term and permanent (whole) life insurance such as the cost of premiums, dividends, accumulation of cash value, tax treatment of death benefits, and protection from creditors of death benefits and cash values;

SE/TE: Chapter 7: pp. 124-125 Life Insurance, p. 125 Math for Personal Finance, pp. 126-127 Getting Insurance, p. 129 Chapter Review: What Do You Know? #6, #7

MW-PFL: Chapter 7: Insurance: Life & Health: Concept #2, Open Response #2





(B) estimate the amount of life insurance needed using a needs approach or an earnings multiple approach;

SE/TE: Chapter 7: p. 125 Types of Life Insurance, Finance Online, p. 129 Chapter Review: What Do You Know? #6, Chapter Review: What Are Your Finance Math Skills? #3, p. 130 Chapter Review: What Are Your Finance Math Skills? #8, p. 134 Chapter Review: Test Prep Questions, #13

MW-PFL: Chapter 7: Insurance: Life & Health: Concept #2

(C) estimate the cost of healthcare coverage, including the cost of health insurance premiums, co-payments, deductibles, and out-of-pocket expenses;

SE/TE: Chapter 7: pp. 119-120 Health Care Costs, pp. 121-123 Health Insurance Features and Terms, p. 123 Math for Personal Finance, p. 129 Chapter Review: What Do You Know? #4, Chapter Review: What Are Your Finance Math Skills? #1, #2, p. 130 Chapter Review: What Are Your Finance Math Skills? #4, #5, p. 131 Chapter Review: What Are the Connections?

MW-PFL: Chapter 7: Insurance: Life & Health: Concepts #1, #3

(D) explain the need for disability income insurance and research the cost;

SE/TE: Chapter 7: p. 126-127 Getting Insurance, p. 129 Chapter Review: What Do You Know? #8

(E) compare the benefits to the costs of special protection coverages such as cancer, pet, vacation, burial, international travel, and purchase protection;

For supporting content please see:SE/TE: Chapter 7: 118, The Importance of Health Insurance

(F) demonstrate an understanding of the actuarial process used to set premiums;

Personal Financial Literacy provides the essential principles of personal finance, and insurance premiums are explained, however the actuarial process falls outside the program curriculum.

(G) demonstrate an understanding of insurance company and agent selection and professional designations within the insurance profession.

SE/TE: Chapter 7: p. 125 Finance Online, pp. 126-127 Getting Insurance

(11) The student applies mathematical process standards to demonstrate an understanding of retirement plans. The student is expected to:





(A) compare tax advantage retirement plans, including Individual Retirement Accounts (IRAs), Roth IRAs, 401(k) plans, and 403(b) plans, and determine an appropriate investment for retirement;

SE/TE: Chapter 13: pp. 252-256 Retirement Savings Options, p. 258 Chapter Review: What Do You Know? #7, #8, #9

(B) calculate and graph the exponential function showing the benefits of starting early to invest with continuous contributions;

SE/TE: Chapter 13: p. 251 Math for Personal Finance, p. 253 Figure 13.2, p. 254 Finance Online, p. 255 Math for Personal Finance, p. 258 Chapter Review: What Are Your Finance Math Skills? #3

MW-PFL: Chapter 13: Savings: Concept #1

(C) calculate tax treatment penalty for early withdrawal; and

SE/TE: Chapter 13: pp. 253-254 Individual Retirement Accounts (IRAs), p. 259 Chapter Review: What Are Your Finance Math Skills? #5

(D) calculate, using technology, the amount that must be saved annually to achieve financial independence by a desired age.

For supporting content please see:SE/TE: Chapter 3: p. 40 Figure 3.2; Chapter 13: p. 254 Finance Online; Chapter 15: pp. 290-293 Time Value of Money, p. 296 Retirement Planning and Time Value Concepts

MW-PFL: Chapter 13: Savings: Concept #3, #4, Open Response #2

(12) The student applies mathematical process standards to demonstrate an understanding of a fixed pension, a variable pension, social security, and an annuity. The student is expected to identify an annuity and calculate and display graphically the future value of an annuity.

SE/TE: Chapter 8: pp. 140-141 Social Security; Chapter 13: pp. 255-256 Employer-Sponsored Retirement Plans, p. 256 Annuities, p. 257 Chapter Review: Key Terms and Concepts, #2, p. 258 Chapter Review: What Do You Know? #10; Chapter 15: p. 291 Figure 15.1, pp. 292-293 The Concept of an Annuity, p. 300 Chapter Review: What Do You Know? #5

MW-PFL: Chapter 15: Time Value of Money: Concept #4, #5, Open Response #2





(13) The student applies mathematical process standards to demonstrate an understanding of wills and trusts for the distribution of assets at death. The student is expected to identify how wills and trusts support the distribution of assets after death

SE/TE: Chapter 15: pp. 296-297 Estate Planning, p. 300 Chapter Review: What Do You Know? #9, p. 301 Chapter Review: What Would You Do?

(14) The student applies mathematical process standards to demonstrate an understanding of charitable giving. The student is expected to demonstrate an understanding of the value and benefits of charitable giving.

SE/TE: Chapter 1: p. 11 Charitable Giving; Chapter 6: p. 107 Deductions and Exemptions, p. 111 Chapter Review: What Are Your Finance Math Skills? #8

(15) The student applies mathematical process standards to demonstrate an understanding of the budgeting process. The student is expected to:(A) create a comprehensive balanced personal budget, including fixed and variable expenses, college savings, emergency savings, and retirement savings;

SE/TE: Chapter 4: pp. 54-57 Creating a Budget, pp. 58-61 Creating a Personal Balance Sheet, p. 65 Chapter Review: What Are the Connections?

MW-PFL: Chapter 5: Calculating a Budget and Educational Investment: Concept #1, #2, Open Response #1, #2

(B) identify free resources to assist with maintaining a budget; and

SE/TE: Chapter 4: pp. 54-57 Creating a Budget, p. 62 Budgeting and Your Financial Plan, p. 65 Chapter Review: What Are the Connections?

(C) compare different standards of living in the United States, including poverty, minimum wage, living wage, and desired standards of living.

For supporting content please see:SE/TE: Chapter 1: p. 7 The Need for Personal Financial Planning

(16) The student applies mathematical process standards to demonstrate an understanding of identity theft. The student is expected to:(A) define and explain types of identity theft;

SE/TE: Chapter 9: pp. 164-166 Threats to Your Credit: Identity Theft, p. 168 Chapter Review: What Do You Know? #8, #9, p. 170 Chapter Review: Teamwork

(B) create a plan for prevention of identity theft; and

SE/TE: Chapter 9: pp. 165-166 Protecting Against and Reacting to Identity Theft, p. 165 Figure 9.6, p. 166 Figure 9.7, p. 168 Chapter Review: What Do You Know? #9b, p. 170 Chapter Review: Teamwork





(C) identify suitable methods for reporting identity theft

SE/TE: Chapter 9: pp. 165-166 Protecting Against and Reacting to Identity Theft, p. 166 Figure 9.7

(17) The student applies mathematical process standards to demonstrate an understanding for a postsecondary plan. The student is expected to:(A) understand educational, military, and current job opportunities;

SE/TE: Chapter 5: p. 72 Finance Online, p. 73 Figure 5.1, p. 74-75 Job Availability, p. 76 Finance Online, pp. 79-81 Getting the Skills You Need

(B) research and align interests and skills with potential careers and postsecondary education to assure a life strategy that will produce employment the student enjoys with a desired standard of living;

SE/TE: Chapter 5: pp. 72-73 Determining a Career Path, p. 74 Education and Skill Requirements, p. 87 Chapter Review: What Do You Know? #1

(C) calculate the total funding required to complete a desired postsecondary education program;

SE/TE: Chapter 5: p. 74, Math for Personal Finance; p. 81 Math for Personal Finance, p. 88-89 Chapter Review: What Are Your Finance Math Skills? #1, #3, #5, #6, #8; Chapter 10: pp. 185-186 Financing Your Education, p. 192 Chapter Review: What Are Your Finance Math Skills? #3, #8

MW-PFL: Chapter 5: Calculating a Budget and Educational Investment: Concept #2, Open Response #2

(D) identify different resources for acquiring funding for education after high school such as personal savings, employment, Free Application for Federal Student Aid (FAFSA), Texas Application for Federal Student Aid, Expected Family Contribution, Pell Grants, work-study programs, student loans, Individual Development Accounts, scholarships such as the Preliminary SAT/National Merit Scholarship Qualifying Test (PSAT/NMSQT®), and internships to reduce the projected cost of education;

SE/TE: Chapter 10: pp. 185-186 Financing Your Education, p. 185 Finance Online, p. 191 Chapter Review: What Do You Know? #8

(E) identify benefits and potential savings for students investing in themselves such as taking Advanced Placement and dual credit classes;

For supporting content please see: SE/TE: Chapter 1: p. 89 Education; Chapter 5: 74, Education and Skill Requirements





(F) graph and compare compensation earnings of potential careers and the cost of postsecondary education; and

SE/TE: Chapter 5: pp. 75-77 Compensation, p. 81 Expanding Your Education, Math for Personal Finance, pp. 88-89 Chapter Review: What Are Your Finance Math Skills? #3, #5

(G) calculate the Return on Investment from completing a desired postsecondary education program, taking into consideration anticipated earnings for a selected degree and the cost of attending a specific postsecondary program.

SE/TE: Chapter 5: p. 81 Math for Personal Finance, pp. 88-89 Chapter Review: What Are Your Finance Math Skills? #3, #5


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