Common Planner
K–12 Standards

Banking and Finance

Other Missouri Business, Marketing, & Information Technology sets

Federal Reserve System1

  • 1

    Define terminology related to cash control and banking activities. 1.1

  • 2

    Identify banking’s role in the economy. (e.g., Familiarization with The Great Depression, the National Bank Act, and the Federal  Reserve Act of 1913 and their roles in the economy). 1.2

  • 3

    Identify the various types of financial institutions. 1.3

  • 4

    Describe the Federal Reserve System and its control of interest rates and money supply. 1.4

  • 5

    Illustrate the development of US banking over time. 1.5

  • 6

    Describe the Federal Deposit Insurance Corporation.1.6

Financial Institutions2

  • 1

    Describe the ethical behaviors  of the bank employee including essential privacy requirements and responsibilities. 2.1

  • 2

    various services that banks and credit unions provide. 2.2

  • 3

    Identify the function of the bank in the community and the money multiplier effect of banks. 2.3

  • 4

    Understand the bank as a business organization versus credit unions, versus finance and loan companies. 2.4

  • 5

    Outline the deposit function and money control 2.5

  • 6

    Summarize the type and ownership of accounts and apply to differing situational needs2.6

  • 7

    Outline the procedures needed to function as a bank. 2.7

  • 8

    Explain how customers make deposits(ex., types of deposit items and how to process these). 2.8

Banking Transactions3

  • 1

    Define terminology related to banking transactions.3.1

  • 2

    Explain the process to open and access accounts (age and independent status)3.2

  • 3

    Classify the types of deposit items used in a bank and the purposes of each.  3.3

  • 4

    Demonstrate the types of deposits, withdrawals, and other demand items (check cashing) and how to process them. 3.4

  • 5

    Demonstrate proper cash handling and accompanying recordkeeping criteria and specifications. 3.5

Checking and Debit4

  • 1

    Define terminology related to checking and debit.. 4.1

  • 2

    Identify encoding and proofing of payable items and vulnerabilities. 4.2

  • 3

    Identify Item capture and sorting. 4.3

  • 4

    Compare and contrast  the history of clearing alternatives 4.4

  • 5

    Explain the receipt timing and process by the paying bank. 4.5

  • 6

    Summarize document examination, counterfeit currency and other fraudulent payable items. 4.6

  • 7

    Read and describe statements for customers, including hidden costs associated with services. 4.7

  • 8

    Explain the dishonored items process and fee policies used by banking. 4.8

  • 9

    Understand fee avoidance measures. 4.9

  • 10

    Compare and contrast negotiable instruments4.10

Credit5

  • 1

    Explain the process of  credit lending through banking. 5.1

  • 2

    Explain the risks and responsibilities associated with using credit. 5.2

  • 3

    Identify the opportunity costs of credit decisions. 5.3

  • 4

    Identify methods of establishing and maintaining a good credit rating. 5.4

  • 5

    Evaluate the various ways of using credit and the costs of usage.5.5

Saving and Investing6

  • 1

    Illustrate the power of compounding interest.6.1

  • 2

    Describe the characteristics of Stock Funds, Government and Corporate Bond Funds, and others. 6.2

  • 3

    Explain the difference between managed Funds (mutual funds) versus Indexed Funds 6.3

  • 4

    Explain stock investment basics and the ways to invest in the Stock Market for wealth and retirement. 6.4

  • 5

    Define investment terms6.5

  • 6

    Describe past investment scams6.6

Taxes7

  • 1

    Describe how the size of the Federal Government affects the level of taxation. 7.1

  • 2

    Identify components of the Federal budget. 7.2

  • 3

    Demonstrate ability to navigate to IRS.gov and use the information on taxation. 7.3

  • 4

    Prepare a simple tax return.7.4

Insurance8

  • 1

    Develop a working knowledge of the reasons for insurance and the consequences of inadequate or lack of insurance. 8.1

  • 2

    Evaluate alternatives to the risks of liability, property loss, death,or  illness with its associated medical costs, disability, and financial loss.  8.2

  • 3

    Understand the difference between pure risk and speculative risk. 8.3

  • 4

    Understand the Affordable Health Care Act 8.4

The Lending Process9

  • 1

    Describe the lending function. 9.1

  • 2

    Classify the parties to negotiable instruments and their liabilities. 9.2

  • 3

    Explain  legal restrictions and lending policy parameters. 9.3

  • 4

    Read and understand the credit report as the leading indicator of credit worthiness. 9.4

  • 5

    Identify components of various types of loans  (e.g., real estate, consumer, secured and unsecured). 9.5

  • 6

    Describe holder in due cause.9.6

Marketing and Advertising10

  • 1

    Explain the components of a marketing strategy  10.1

  • 2

    Explain and demonstrate market research, competitive sales strategies, customer service, methods of execution, public relations initiatives, media, pricing, and customer  support.10.1

  • 3

    Explain banking cross selling efforts. 10.1

  • 4

    Explain the development of a desirable image and protect that image. 10.1

  • 5

    Demonstrate the process of planning events and the strategies to ensure success and to encourage repeat customer traffic. 10.1

  • 6

    Explain advertising as distinct from the marketing plan and the ways that advertising affects the customer perception and patronage.10.1

Frequently asked questions

What grade levels do these standards cover?
Grade 9, Grade 10, Grade 11, and Grade 12
Where can I read the official document?
2022Banking and Finance

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