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Banking

Banking

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Here's how Banking aligns with curriculum standards in Washington DC. Use the filters to change the location, set of standards, and grade level.

Saving and Investing

Knowledge Standards

SI.K.1: Compare the functions, benefits and drawbacks of different types of checking and savings accounts, including but not limited to regular savings, high-yield savings, money market, certificates of deposit (CDs), college savings, health savings and retirement savings accounts.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Banking
Students will justify using different types of checking and savings accounts based on a comparison of the benefits and drawbacks of each.
Students will analyze how different types of savings accounts differ in minimum deposits, rates and deposit insurance coverage.
Students will examine the average interest rate of various savings accounts.

SI.K.5: Interpret the different types and purposes of various financial institutions available to an individual, including banks, credit unions and brokerage firms.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Banking
Students will compare the differences between various banking options such as banks, credit unions and brokerage firms.

SI.K.6: Describe the role of government agencies such as the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), the Securities and Exchange Commission (SEC) and the National Credit Union Administration, along with their counterparts in state government in supervising and regulating financial institutions.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Banking
Students will identify the state agency responsible for regulating financial institutions in Washington, DC.
Students will identify areas of financial institution operations that are subject to state and/or federal regulation and supervision.

Skills Standards

SI.S.1: Identify practices for saving towards short- and long-term financial goals.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Banking
Students identify the processes for opening and managing various savings accounts to meet their financial goals.

Credit

Skills Standards

CR.S.1: Examine the cost of credit using the Annual Percentage Rate (APR), Effective Annual Rate (EAR) or the actual rate to be paid based on the period of compounding and other terms in the contract for a credit card or loan for purchases.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Banking
Students will analyze how credit card grace periods, methods of interest calculation and fees affect borrowing costs.

CR.S.5: Identify factors that impact an individual's credit score, and ways individuals can improve their credit.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Banking
Students will identify the primary factors that are included in credit score calculations.
Students will understand how to check their credit scores using at least one of the freely available credit reporting services (e.g., Experian, Equifax, TransUnion).