What grade levels do these standards cover?

Grade 9, Grade 10, Grade 11, and Grade 12

Where can I read the official document?

New York State Career & Financial Management Curricular Framework

K–12 Standards

Career & Financial Management Curricular Framework (2022): Grades 9, 10, 11, 12
Other New York CTE sets
Career Development and Occupational Studies (2021): Grades 9, 10, 11, 12

Career Management

1.
Career DevelopmentCM.1
1. a.
  Identify potential career pathways −16 career clusters as outlined in Common Career Technical Core (CCTC)CM.1.1.a
2. b.
  Assess individual skills, values, needs, personal attributes, and lifestyle choicesCM.1.1.b
3. a.
  Identify career areas of interestCM.1.2.a
4. b.
  Research national, state, and local labor market dataCM.1.2.b
5. c.
  Analyze job market data for specific career areasCM.1.2.c
6. d.
  Analyze the role that networking plays in career researchCM.1.2.d
7. e.
  Investigate opportunities to learn about specific careers through networkingCM.1.2.e
8. a.
  Identify resources to conduct career researchCM.1.3.a
9. b.
  Explore the different career clusters and particular careers in each clusterCM.1.3.b
10. c.
  Brainstorm how part-time jobs and volunteerism impact future career choicesCM.1.3.c
11. d.
  Explore Civil Service test opportunitiesCM.1.3.d
12. e.
  Analyze the role that networking plays in career researchCM.1.3.e
13. a.
  Research problem-solving models available to assist with career decision making; for example, the 5-step Problem Solving model (define the problem, list potential solutions, examine the pros and cons of each potential solution, make a decision and evaluate the decision)CM.1.4.a
14. b.
  Apply a problem-solving model to a career decisionCM.1.4.b
15. c.
  Evaluate the effectiveness of problem-solving strategies in career decision makingCM.1.4.c
16. a.
  Create SMART goals (Specific, Measurable, Attainable, Realistic, Time Bound)CM.1.5.a
17. b.
  Create short-, mid-and long-term SMART goals for career planning processCM.1.5.b
18. a.
  Conduct networking activities including informational interviews, shadowing opportunities, internships and voluntary opportunitiesCM.1.6.a
19. b.
  Participate in community service organizations and activitiesCM.1.6.b
20. c.
  Find possible mentorsCM.1.6.c
2.
Options Beyond High SchoolCM.2
1. a.
  Research post-secondary educational options, including trade schools, certificate programs, and two-and four-year collegesCM.2.1.a
2. b.
  Explore employment opportunities including apprenticeships, labor unions, and full-and part-time employmentCM.2.1.b
3. c.
  Explore government (competitive civil service) and military careersCM.2.1.c
4. a.
  Match their career goals, needs, and wants to the available optionsCM.2.2.a
5. b.
  Apply decision-making skills to develop a plan that includes short-and long-term career goalsCM.2.2.b
6. a.
  Investigate the cost of educational optionsCM.2.3.a
7. b.
  Explore and identify types of financial assistance: scholarships, loans, Free Application for Federal Student Aid (FAFSA)CM.2.3.b
8. c.
  Research scholarship and grant opportunitiesCM.2.3.c
3.
The Job Search ProcessCM.3
1. a.
  Explain the various sources of job opportunities (job websites, networking, internships, help wanted signs, work-based learning opportunities, public and private employment agencies, job fairs, and print media)CM.3.1.a
2. b.
  Describe the role each of the above sources plays in the job searchCM.3.1.b
3. c.
  Explain how work-based learning experiences in high school can spark career interest and foster professional networkingCM.3.1.c
4. a.
  Describe and compile the information required for job applicationsCM.3.2.a
5. b.
  Develop materials to respond to online job postingsCM.3.2.b
6. a.
  Distinguish between the content for resumes and cover lettersCM.3.3.a
7. b.
  Differentiate personal qualities/skills that are included in resumes and cover lettersCM.3.3.b
8. a.
  Identify the skills to create a good first impression, either on the internet or face to faceCM.3.4.a
9. b.
  Review telephone, digital, and face-to-face interview strategies to best showcase qualificationsCM.3.4.b
10. c.
  Describe what "dress for success" means for various types of positionsCM.3.4.c
11. d.
  Discuss ways information gleaned during a job interview can influence the decision to accept a positionCM.3.4.d
12. a.
  Discuss reasons job seekers should engage in follow-up communication with interviewersCM.3.5.a
13. b.
  Identify points to include in a follow-up letter or phone callCM.3.5.b
14. c.
  Evaluate sample interview follow-up communicationsCM.3.5.c
15. a.
  Define what a career portfolio is and what might be included in itCM.3.6.a
16. b.
  Investigate ways that components of portfolios vary across careersCM.3.6.b
17. c.
  Develop ways to edit portfolio contents to match requirements for advertised positionsCM.3.6.c
18. a.
  Describe criteria for evaluating job offersCM.3.7.a
19. b.
  Identify factors that determine whether to accept or decline a job offerCM.3.7.b
20. c.
  Discuss effective strategies for handling rejectionCM.3.7.c
4.
Workplace RegulationsCM.4
1. a.
  Gain knowledge or documentation required for employment, such as working papersCM.4.1.a
2. b.
  Differentiate working hours and wages based on age/industryCM.4.1.b
3. c.
  Identify prohibitive occupations for minors and special exemptions for students enrolled in CTE programsCM.4.1.c
4. d.
  Explain workplace terms, such as working hours, overtime, minimum wage, prevailing wage, per diem, workers' compensation insurance, unemployment insurance, Social Security, and disability insuranceCM.4.1.d
5. a.
  Compare and contrast employer and worker rights and responsibilitiesCM.4.2.a
6. b.
  Identify laws and agencies that protect against discrimination and support equal opportunities (EEOC)CM.4.2.b
7. c.
  Examine the role of Social Security and unemployment insuranceCM.4.2.c
8. a.
  Investigate workplace hazards, negative health effects, and methods for controlling themCM.4.3.a
9. b.
  Recognize the role of workers compensation insurance, disability insurance, and social security for on-the-job illness or injuryCM.4.3.b
10. c.
  Explain what OSHA (Occupational Safety and Health Administration) and the CDC (Centers for Disease Control and Prevention) are and how they protect employeesCM.4.3.c
11. a.
  Describe the history of unions and how unions protect employeesCM.4.4.a
12. b.
  Define the National Labor Relations Act of 1935, also known as the Wagner ActCM.4.4.b
13. c.
  Explain the process and result of union negotiationsCM.4.4.c
14. a.
  Determine how the Fair Labor Standards Act of 1938 affected wages and equal opportunitiesCM.4.5.a
15. b.
  Identify other laws that affect workforce hiringCM.4.5.b
16. a.
  Describe what a professional organization isCM.4.6.a
17. b.
  Identify various professional organizations with career pathwaysCM.4.6.b
18. c.
  Explain the benefits of belonging to a professional organizationCM.4.6.c
5.
Career Readiness Skills (Transferrable Skills)CM.5
1. a.
  Identify career readiness skills (e.g., critical thinking, problem solving, decision making, communication)CM.5.1.a
2. b.
  Explain how career readiness skills contribute to success in a variety of career and life settingsCM.5.1.b
3. c.
  Reflect on experiences that provide opportunities to gain and/or strengthen career readiness skillsCM.5.1.c
4. d.
  Explain why career readiness skills are also referred to as transferrable skillsCM.5.1.d
5. a.
  Define the term "self-advocacy" as it relates to success in a variety of career and life settingsCM.5.2.a
6. b.
  Identify and discuss strategies to overcome obstacles and challenges to success in a variety of career and life settingsCM.5.2.b
7. c.
  Explain how self-advocacy can assist in reaching short-, mid-, and long-term goalsCM.5.2.c
6.
Lifelong LearningCM.6
1. a.
  Explain how enrollment in skills development training, courses, degree programs, and/or workshops can enhance career growth, advancement, and/or lifelong learningCM.6.1.a
2. b.
  Investigate how to access and acquire various certificates, accreditations, and other career credentialsCM.6.1.b
3. c.
  Understand the value that ongoing education has on career growth, achievement, and/or lifelong learningCM.6.1.c
4. d.
  Explore how tuition reimbursement options in many organizations encourage their employees to continue their educationCM.6.1.d
5. a.
  Identify and use career resources to obtain information about professional development opportunities sponsored by professional organizationsCM.6.2.a
6. b.
  Explain how attending and/or presenting at local, regional, national, and international meetings, conferences, and workshops sponsored by professional organizations may lead to career growth, advancement, and/or lifelong learningCM.6.2.b
7. a.
  Determine why keeping up with technology, systems, and processes is critical for career growth, advancement, and/or lifelong learningCM.6.3.a
8. b.
  Research, identify, and explain reasons why it is important for an individual to consistently possess current knowledge and skillsCM.6.3.b
9. a.
  Define role model and mentor as they relate to career growth, advancement, and/or lifelong learningCM.6.4.a
10. b.
  Compare the benefits of being a role model or mentor with having a role model or mentor and how each can lead to career growth, advancement, and/or lifelong learningCM.6.4.b
11. c.
  Explain the concept of networking and the role it plays in career growth, advancement, and/or lifelong learningCM.6.4.c
7.
Leadership And EthicsCM.7
1. a.
  Define leadership as it applies to the broad topic of career managementCM.7.1.a
2. b.
  Investigate, list, and describe characteristics of effective leadersCM.7.1.b
3. c.
  Assess the impact leaders can have in the workplace, community, and the global marketplaceCM.7.1.c
4. a.
  Describe the purpose of leadership organizations and how they promote ethics in leadershipCM.7.2.a
5. b.
  Investigate leadership organizations in the school, workplace, and community which promote leadership skillsCM.7.2.b
6. a.
  Explain and demonstrate understanding of parliamentary procedure as it applies to conducting meetings, clubs, organizations, etc.CM.7.3.a
7. b.
  Discuss how using parliamentary procedure can positively affect an organization.CM.7.3.b
8. c.
  Discuss how using parliamentary procedure can negatively affect an organization.CM.7.3.c
9. a.
  Define personal and professional ethicsCM.7.4.a
10. b.
  Explain how personal and professional ethics can be demonstrated in life situationsCM.7.4.b
11. c.
  Explain how personal and professional ethics can be demonstrated in employment situationsCM.7.4.c
12. d.
  Analyze why it is important for leaders to act ethicallyCM.7.4.d
8.
Business And Technological InnovationsCM.8
1. a.
  Define oral, written, and unspoken (body language) communicationCM.8.1.a
2. b.
  Assess the different uses of today's communication technologyCM.8.1.b
3. c.
  Identify ways to demonstrate respect for intellectual property, personal privacy, and information securityCM.8.1.c
4. d.
  Develop skills to avoid identity theft and maintain identity securityCM.8.1.d
5. e.
  Discuss the role social media plays in personal and business communicationCM.8.1.e
6. a.
  Demonstrate how to produce letters, memos, and emails correctly for the workplaceCM.8.2.a
7. b.
  Explain how communications may differ based on different audiencesCM.8.2.b
8. c.
  Develop the technical and interpersonal skills to access and assess technology effectivelyCM.8.2.c
9. a.
  Describe what email etiquette isCM.8.3.a
10. b.
  Explain how social networking can be helpful or harmful in the workplaceCM.8.3.b
11. c.
  Define texting and instant messaging and how they are used effectively in the workplaceCM.8.3.c
12. d.
  Describe blogs, tweets, wikis, podcasts, and discussion boardsCM.8.3.d
13. a.
  Explain the ethics of social media and communications and how they benefit businessesCM.8.4.a
14. b.
  Define digital footprintCM.8.4.b
15. c.
  Describe the difference between a professional and an unprofessional digital footprintCM.8.4.c
16. d.
  Explain what their digital footprint says about themCM.8.4.d
17. e.
  Describe the importance of online privacy and professionalismCM.8.4.e
18. f.
  Explain why updating privacy settings is importantCM.8.4.f
19. g.
  Describe what prospective employers are entitled to investigateCM.8.4.g
20. a.
  Develop the technical and interpersonal skills to use technology effectivelyCM.8.5.a
21. b.
  Explore technology uses specific to different career clustersCM.8.5.b
22. c.
  Explain how information and technology have changed in the workplaceCM.8.5.c

Financial Management

1.
BudgetingFM.1
1. a.
  Identify reasons to create financial goalsFM.1.1.a
2. b.
  Identify characteristics that provide meaningful goal direction: SMART (Specific, Measurable, Attainable, Realistic, Timebound)FM.1.1.b
3. a.
  Explain the value of having a spending plan/budgetFM.1.2.a
4. b.
  Recognize the importance of regularly reviewing a budgetFM.1.2.b
5. c.
  Determine how savings and charitable giving fit into a budgetFM.1.2.c
6. a.
  Describe limited resourcesFM.1.3.a
7. b.
  Evaluate needs vs. wantsFM.1.3.b
8. c.
  Distinguish between fixed and variable expensesFM.1.3.c
9. d.
  Examine various examples of opportunity costs and how they impact a budgetFM.1.3.d
10. e.
  Examine liquidity of savings for emergenciesFM.1.3.e
11. f.
  Review variables impacting a budget (e.g., inflation, unemployment, relationship changes (marriage/divorce), extreme weather)FM.1.3.f
12. a.
  Explain the importance of developing an emergency fund before planning other monetary goalsFM.1.4.a
13. b.
  Reflect on the importance of revising/updating emergency funds as life changes occurFM.1.4.b
14. c.
  Explain the importance of a "pay yourself first" policyFM.1.4.c
15. a.
  Identify how small "want" purchases and buying on impulse can impact a budgetFM.1.5.a
16. b.
  Identify the 3 R's in purchase decision making: Reality, Responsibility and RestraintFM.1.5.b
17. c.
  Explain options to balance your budget when/if there is a surplus or deficitFM.1.5.c
18. d.
  Identify outside influences that make sticking to a budget challenging (advertising, social status)FM.1.5.d
19. e.
  Identify software programs/apps and other tools to assist in budgeting (MINT, banking app)FM.1.5.e
2.
Money ManagementFM.2
1. a.
  Review different mediums of exchange and barteringFM.2.1.a
2. b.
  Explain the history of moneyFM.2.1.b
3. c.
  Define US Department of Treasury and US MintFM.2.1.c
4. a.
  Describe the role of the Federal Reserve BankFM.2.2.a
5. b.
  Identify various banking options such as commercial banking, credit unions, etc.FM.2.2.b
6. c.
  Explain how financial institutions make money from consumer lendingFM.2.2.c
7. a.
  Describe how to open and manage both manual and electronic checking and savings accountsFM.2.3.a
8. b.
  Explain the different types of check endorsementsFM.2.3.b
9. c.
  Identify the proper use of a debit card and ATM cardFM.2.3.c
10. d.
  Identify the importance of maintaining good financial records (check register, electronic records and reconciliation statements)FM.2.3.d
11. a.
  Explain the features of different savings plansFM.2.4.a
12. b.
  Describe overdraft protectionFM.2.4.b
3.
Credit And LoansFM.3
1. a.
  Identify the businesses where credit is offered: banks, credit unions, investment firms, retailers, finance companies, tax preparers, pawn shops, government agencies, colleges, consumer finance companies, credit card companies, mortgage brokers, etc.FM.3.1.a
2. b.
  Describe the differences in the structure, options, and possible consequences of borrowing from the various sourcesFM.3.1.b
3. a.
  Identify and describe the various types of credit: credit card, student loan, car loan, personal loan, mortgages, business loanFM.3.2.a
4. b.
  Define secured loans (give forms and examples of collateral), unsecured loans, subsidized and unsubsidized loans, co-signed loans and joint credit vs. individual credit, balloon payments, and ARM (adjusted rate mortgage)FM.3.2.b
5. a.
  Review the types of loan applications and information required for approval: income; length at job; FICO (Fair Isaac Corp.) score; debt-to-loan ratio; collateral; down payment; co-signers or guarantorsFM.3.3.a
6. b.
  Explain five C's of credit that determine credit worthiness of potential borrowers: Character (integrity); Capacity (sufficient money to pay for obligations); Collateral (assets to secure the debt); Capital (net worth); Conditions (of the borrower and the overall economy)FM.3.3.b
7. c.
  Explore the FAFSA (Free Application for Federal Student Aid) process for borrowing money for post-secondary educationFM.3.3.c
8. a.
  Define default/foreclosure/repossession, overspending, bankruptcy, and poor credit decisionsFM.3.4.a
9. b.
  Discuss the pitfalls of failing to compare and evaluate interest rates, length of the loan, and total cost of the loan over the payment periodFM.3.4.b
10. c.
  Identify instances when issuers can close accounts and slash credit limits without advance warningFM.3.4.c
11. a.
  Describe the difference between a debit card and credit cardFM.3.5.a
12. b.
  Explain the advantages vs. disadvantages of using a credit cardFM.3.5.b
13. c.
  Explain how balance transfers affect creditFM.3.5.c
14. d.
  Discuss the true cost of purchases when making only the minimum payment on a credit card statementFM.3.5.d
15. a.
  Identify various options associated with credit cards (prepaid cards, store credit cards, bank credit cards).FM.3.6.a
16. b.
  Define terms associated with credit cards (cash advances, credit limit, minimum amount due, grace period, late fee, finance charge)FM.3.6.b
17. c.
  Identify components associated with cash advancesFM.3.6.c
18. d.
  Develop the ability to read, understand, and interpret credit card bills/statementsFM.3.6.d
19. e.
  Recognize consumer protections provided by federal legislation<ul><li>Issuers must give card account holders "a reasonable amount of time" to make payments on monthly bills</li><li>Credit card bills must arrive at least 21 days before the end of the grace period</li><li>Fees charged must be reasonable and proportional</li><li>Over-limit fees must be addressed</li><li>Interest rates on new transactions (not pre-existing balances) can increase only after the first year</li><li>Significant changes require 45 days of advance notice</li><li>Holders must be at least 21 years old unless they have adult co-sign</li><li>Credit card companies must stay at least 1,000 feet from college campuses if they are offering gifts to entice students to apply</li><li>Card issuers cannot raise the APR (annual percentage rate) automatically when the cardholder fails to make a payment on another card</li><li>Issuers need to clearly disclose all information and rates</li></ul>FM.3.6.e
20. a.
  Develop skills necessary to avoid identity theft and maintain identity securityFM.3.7.a
21. b.
  Identify and promote good practices for privacy, security, and online safetyFM.3.7.b
22. c.
  Identify strategies to avoid identity theftFM.3.7.c
23. d.
  Identify different kinds of consumer fraudFM.3.7.d
24. e.
  Determine what steps to take if victimized by consumer fraudFM.3.7.e
4.
InterestFM.4
1. a.
  Describe what Annual Percentage Rate (APR) is, how it is used, and its importanceFM.4.1.a
2. b.
  Define terms and concepts associated with simple/compound interest, APR, late fees, initial fees, non-payment fees, and other information associated with the cost of creditFM.4.1.b
3. c.
  Identify various sources of credit and how large purchases (vehicles, homes, furniture) are usually financedFM.4.1.c
4. d.
  Describe how the Truth in Lending Act protects consumersFM.4.1.d
5. e.
  Define fixed vs. variable interest ratesFM.4.1.e
6. f.
  Describe the Rule of 72FM.4.1.f
7. a.
  Review the Five C's of credit that determine credit worthiness of potential borrowers: Character (integrity); Capacity (sufficient money to pay for obligations); Collateral (assets to secure the debt); Capital (net worth); Conditions (of the borrower and the overall economy)FM.4.2.a
8. b.
  Explain strategies for earning interest and the benefits of doing soFM.4.2.b
9. c.
  Identify ways to reduce the cost of borrowing money<ul><li>Making a larger down payment</li> <li>Shopping for lower interest rates</li> <li>Borrowing for a shorter period of time</li></ul>FM.4.2.c
10. a.
  Explain FICO (Fair Isaac Corp.), which started the credit score system, and why is it importantFM.4.3.a
11. b.
  Identify the three credit reporting agencies (Equifax, TransUnion, and Experian) and their impact on your credit scoreFM.4.3.b
12. c.
  Describe the implications of a low vs. high credit score for securing a loanFM.4.3.c
13. d.
  Explain the steps to improve one's credit scoreFM.4.3.d
14. e.
  Recognize the factors that have a negative impact on credit scoreFM.4.3.e
15. f.
  Explain the importance of tracking your credit score on a regular basisFM.4.3.f
16. g.
  Explain the consequences of paying only the minimum amount due on credit cards. (Generally, the longer the period of time for repayment, the greater the total cost of the loan and therefore the real price of the product or service purchased on credit.)FM.4.3.g
5.
InvestingFM.5
1. a.
  Explain what motivates people to invest (increase assets, produce wealth, and prepare for retirement)FM.5.1.a
2. b.
  Explore different investment strategies for various investment needsFM.5.1.b
3. c.
  Distinguish between investing and savings and how each satisfies financial goalsFM.5.1.c
4. d.
  Explain the long-term value of investingFM.5.1.d
5. a.
  Examine commission charges and their impact on the cost of buying and selling securitiesFM.5.2.a
6. b.
  Distinguish among a broker, financial planner, and online trading vehicleFM.5.2.b
7. a.
  Compare the differences among stocks, bonds, and mutual fundsFM.5.3.a
8. b.
  Recognize that different stocks are traded on specific stock exchanges (NYSE, Euronext, NASDAQ)FM.5.3.b
9. c.
  Analyze major indices that reflect aspects of the economic climate (S&P 500 and Dow Jones)FM.5.3.c
10. d.
  Define such terms as bear, bull, and volatile marketsFM.5.3.d
11. Stocks (equities, securities, common stock)
  a.
  Explain why and how a company goes public (selling shares to the public)FM.5.4S.a
  b.
  Explain stockholders' rightsFM.5.4S.b
  c.
  Describe why stocks have highest growth potential and risk potentialFM.5.4S.c
  d.
  Analyze risk and return potentialFM.5.4S.d
  e.
  Demonstrate ability to read stock market tables: stock symbol, high, low, opening and closing price, net change, volume, and P/E (price-to-earnings) ratioFM.5.4S.e
  f.
  Determine capital gains/losses (selling price -purchase price) x shares of stock = capital gain or lossFM.5.4S.f
  g.
  Recognize the factors that influence stock prices (news, economy, new products, bankruptcy)FM.5.4S.g
  h.
  Explain what dividends are and examine options to reinvest themFM.5.4S.h
12. Mutual Funds
  a.
  Recognize the value of diversification and moderate riskFM.5.4M.a
  b.
  Distinguish among different mutual fund packages (money market, equity and bond funds, family of funds)FM.5.4M.b
13. Bonds
  a.
  Define the components of bonds, including principal, price, coupon/interest rates, payments to lender, face value, and maturityFM.5.4B.a
  b.
  Define the different types of bonds, such as treasury bonds, municipal bonds, and corporate bondsFM.5.4B.b
  c.
  Recognize factors that influence bond prices: rates, inflation, economic conditionsFM.5.4B.c
  a.
  Recognize how real estate and collectibles (antiques, coins, sports cards, comic books) are investment opportunitiesFM.5.5.a
  b.
  Define the various long-term savings plans available for consumers (529, 403b, 401k, Gerber Plan, employment match fund, pension, tax deferred annuity, and Roth IRA)FM.5.5.b
  a.
  Distinguish among the Securities Exchange Commission (SEC), the Federal Trade Commission (FTC), and a Federal Reserve Bank (the Fed)FM.5.6.a
  b.
  Describe how each agency protects investors by enforcing the laws concerning the buying and selling of stocksFM.5.6.b
6.
Consumer Options And ProtectionsFM.6
1. a.
  Explain the costs associated with owning a carFM.6.1.a
2. b.
  Evaluate the methods of purchasing a carFM.6.1.b
3. c.
  Recognize the difference between the leasing and ownership options (used and new)FM.6.1.c
4. d.
  Calculate the cost of additional features and accessoriesFM.6.1.d
5. a.
  Analyze comparative costs of different residential locationsFM.6.2.a
6. b.
  Describe the steps, terms, and legalities of leasing an apartmentFM.6.2.b
7. c.
  Explain the process and considerations of purchasing a homeFM.6.2.c
8. d.
  Compare renting to owning propertyFM.6.2.d
9. a.
  Identify reasons and motivation for purchasing various consumer productsFM.6.3.a
10. b.
  Describe the power of advertisements affecting consumer decisionsFM.6.3.b
11. c.
  Identify purchasing strategies, including discounts, brick and mortar vs. online, and comparative shopping (unit price)FM.6.3.c
12. d.
  Define brand name vs generic products and explain how price is affectedFM.6.3.d
13. a.
  Evaluate effective strategies for dealing with a consumer problemFM.6.4.a
14. b.
  Describe ways to recognize and prevent consumer fraudFM.6.4.b
15. c.
  Describe ways to prevent identity theftFM.6.4.c
16. d.
  Describe the legal remedies available to consumers such as lemon laws for cars, Better Business Bureau (BBB),the New York State Attorney General's Bureau of Consumer Frauds & Protection, FTC's Bureau of Consumer Protection, and Small Claims CourtFM.6.4.d
17. e.
  Explain how online consumer referrals and compliance impact the marketplaceFM.6.4.e
7.
InsuranceFM.7
1. a.
  Define risk and explain the methods of risk managementFM.7.1.a
2. b.
  Explain the concept of shared riskFM.7.1.b
3. c.
  Calculate the cost and benefits of insurance and how degrees of risk affect the cost of insuranceFM.7.1.c
4. d.
  Explain the consequences of not carrying insuranceFM.7.1.d
5. a.
  Compare insurance companies and insurance brokersFM.7.2.a
6. b.
  Determine insurance needs, decide what is affordable, and compare costsFM.7.2.b
7. c.
  Define insurance terms such as premium, coverage, deductible, and claimFM.7.2.c
8. Vehicle Insurance
  a.
  Explain necessity and regulations required by state lawsFM.7.3V.a
  b.
  Identify factors affecting cost of insurance such as age, gender, marital status, type of car, cost of repairs, mileage, location, law enforcement, driving record and claims madeFM.7.3V.b
  c.
  Explore optional coverages such as comprehensive, collision, and umbrella coverageFM.7.3V.c
  d.
  Explain the consequences of not having required insuranceFM.7.3V.d
  e.
  Explore strategies to reduce the cost of vehicle insurance, such as increasing the deductible, reducing coverage, garaging the vehicle, installing alarms, taking a driver education course, or avoiding submitting small claimsFM.7.3V.e
9. Health Insurance
  a.
  Explain the purpose and need for health insuranceFM.7.3H.a
  b.
  Explore various options to secure health insurance, such as Health Maintenance Organization (HMO), a Preferred Provider Organization (PPO), employer supported insurance, and government-sponsored health insuranceFM.7.3H.b
10. Life Insurance
  a.
  Explain the purpose and need for life insuranceFM.7.3L.a
  b.
  Explain the difference between term insurance and whole life insuranceFM.7.3L.b
  c.
  Define life insurance terms, such as death benefit, beneficiary, cash value, and face-valueFM.7.3L.c
11. Property Insurance
  a.
  Explain the purpose and need for property insuranceFM.7.3P.a
  b.
  Define terms of property insurance, such as: renters, homeowners, and mortgage insuranceFM.7.3P.b
12. a.
  Explore additional insurance options, such as: travel, mobile and electronic devices, disability, and long-term careFM.7.4.a
13. b.
  Explore consequences for opting out of insurance protectionFM.7.4.b
8.
TaxesFM.8
1. a.
  Recognize the reasons that taxes are collectedFM.8.1.a
2. b.
  Explain how municipalities and federal government collect and utilize taxesFM.8.1.b
3. a.
  Describe the advantages of payroll or employment taxesFM.8.2.a
4. b.
  Define exemptions and dependents and explain how they affect income taxesFM.8.2.b
5. c.
  Compare adjustable gross income and taxable incomeFM.8.2.c
6. a.
  Explain why sales taxes vary by location and how they impact consumerismFM.8.3.a
7. b.
  Define other types of taxes and their purpose, such as property taxes, luxury taxes, estate taxesFM.8.3.b
8. a.
  Explain income taxes and how they are reported and calculated.FM.8.4.a
9. b.
  Distinguish among tax forms such as 1040and 1099FM.8.4.b
10. a.
  Distinguish between standard and itemized deductionsFM.8.5.a
11. b.
  Explain options available to taxpayers in reporting to the IRSFM.8.5.b
12. a.
  Define different deductions, such as: Medicare, Social Security, unemployment, and disabilityFM.8.6.a
13. b.
  Explain how these tax-funded programs benefit employeesFM.8.6.b
14. c.
  Explain employers' responsibility for each of the aboveFM.8.6.c

Frequently asked questions

What grade levels do these standards cover?: Grade 9, Grade 10, Grade 11, and Grade 12
When were these standards adopted?: 2022
Where can I read the official document?: New York State Career & Financial Management Curricular Framework

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