Common Planner
K–12 Standards

Insurance and Risk Management: Grades 10, 11, 12

Other Arkansas CTE sets

Insurance Fundamentals

  • 1.1

    Define and analyze risk

    1. 1.

      Analyze and assess risk1.1.1

  • 1.2

    Describe how insurance works

    1. 1.

      Identify the who, what, when, where, and why of insurance1.2.1

  • 1.3

    Describe rights and responsibilities of insurance

    1. 1.

      Describe insurance regulations and company/agent responsibilities1.3.1

    2. 2.

      Discuss the insured's obligations and how to assert his or her rights1.3.2

    3. 3.

      Explain the fundamental principle behind credit and insurance scores.1.3.3

Automobile Insurance

  • 2.1

    Describe factors that affect automobile insurance policies and rates

    1. 1.

      Investigate the general types of automobile coverage (liability, medical expenses, physical damage, and uninsured/underinsured motorist)2.1.1

    2. 2.

      Differentiate between liability coverages (bodily injury and property damage)2.1.2

    3. 3.

      Differentiate between physical damage coverages (comprehensive and collision)2.1.3

    4. 4.

      Define medical expenses (personal injury protection)2.1.4

    5. 5.

      Differentiate between uninsured and underinsured coverages2.1.5

    6. 6.

      Investigate the factors that affect insurance policy rates (i.e. Age, gender, driving record, credit score, etc.)2.1.6

  • 2.2

    Describe components of an automobile insurance policy

    1. 1.

      Summarize the parts of an automobile insurance policy (application, declarations page, policy, and cancellations)2.2.1

    2. 2.

      Evaluate coverage of automobile insurance, including riders and endorsements (GAP insurance and riders)2.2.2

  • 2.3

    Describe reporting accidents and claim procedures

    1. 1.

      Assess your role in an accident (you are involved, you are a witness, etc.)2.3.1

    2. 2.

      Explain what to do in case of an accident2.3.2

    3. 3.

      Identify the steps involved in filing a claim2.3.3

Worker's Compensation and Unemployment Insurance

  • 3.1

    Describe worker's compensation

    1. 1.

      List workplace risks3.1.1

    2. 2.

      Examine the employer's responsibility in relation to workers' compensation3.1.2

    3. 3.

      Investigate state and federal agencies to further reinforce worker's safety standards (i.e. OSHA)3.1.3

    4. 4.

      Demonstrate the process to file a worker's compensation claim3.1.4

    5. 5.

      Critique evidence of worker's compensation fraud3.1.5

  • 3.2

    Describe unemployment insurance

    1. 1.

      Examine the employer's responsibilities and the employee's eligibility in relation to unemployment insurance3.2.1

    2. 2.

      Demonstrate the process to file an unemployment claim3.2.2

    3. 3.

      Calculate unemployment benefits3.2.3

    4. 4.

      Calculate the unemployment rates3.2.4

Homeowner's and Renter's Insurance

  • 4.1

    Describe homeowner's and renter's insurance

    1. 1.

      Describe the general purpose of homeowner's insurance4.1.1

    2. 2.

      Describe the general purpose of renter's insurance4.1.2

    3. 3.

      Analyze how to reduce risk of loss in the home4.1.3

  • 4.2

    Describe basic coverage of homeowner's and renter's insurance policies

    1. 1.

      Describe basic homeowner's insurance policies4.2.1

    2. 2.

      Describe basic renter's insurance policies4.2.2

    3. 3.

      Differentiate between guaranteed replacement cost coverage versus actual cash value4.2.3

    4. 4.

      Examine the property insurance application process, coverage needs, and the claims process4.2.4

Health and Disability Insurance

  • 5.1

    Describe health insurance

    1. 1.

      Explain the general purpose of health insurance and the problems in healthcare5.1.1

    2. 2.

      Define Pre-existing conditions5.1.2

    3. 3.

      Compare and evaluate different categories (Public and Private/Employer-Sponsored) and types (HMO, PSO, High-Deductible, Catastrophic, etc.) of health insurance plans5.1.3

    4. 4.

      Relate how COBRA, HIPAA, Medicare, and Medicaid affect insurance5.1.4

  • 5.2

    Describe disability and long-term care insurance

    1. 1.

      Assess the purpose and benefits of disability insurance; analyze coverage needs, costs, and benefits5.2.1

    2. 2.

      Assess the purpose and benefits of long-term care insurance; analyze coverage needs, costs and benefits5.2.2

Life Insurance and Retirement Planning

  • 6.1

    Describe life insurance

    1. 1.

      Define and explain the purpose of life insurance6.1.1

    2. 2.

      Compare and evaluate the various policy types6.1.2

    3. 3.

      Explain how to apply for a policy6.1.3

    4. 4.

      Identify beneficiary and discuss filing a death claim6.1.4

  • 6.2

    Describe retirement planning

    1. 1.

      Explain the importance of a retirement plan6.2.1

    2. 2.

      Compare and Contrast the employer sponsored and individual retirement plans available6.2.2

    3. 3.

      Describe how Social Security may supplement other income6.2.3

Insurance Careers, Ethics, and Rights and Responsibilities

  • 7.1

    Describe careers in insurance

    1. 1.

      Investigate careers in the insurance industry7.1.1

  • 7.2

    State ethics in insurance

    1. 1.

      Explore ethics in insurance7.2.1

Frequently asked questions

What grade levels do these standards cover?
Grade 10, Grade 11, and Grade 12
When were these standards adopted?
2013
Where can I read the official document?
Insurance and Risk Management

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