STANDARD COMPETENCIES:

 

 I.      Demonstrate use of financial calculators.

 II.     Exhibit basic spreadsheet operations, by proper and effective use of such.

 III.    Display algebraic manipulative skills.

 IV.     Demonstrate the basic language of financial mathematics.

 V.      Apply the skills learned to solve problems in pricing, taxation, insurance, and investment.

 VI.     Recognize valid and invalid financial claims and construct valid financial arguments.

 VII.    Analyze a complex financial decision.

 TOPICAL OUTLINE:

 

 I.      Whole Numbers, Fractions, and Percents

         A.       Define whole numbers

         B.       Add, subtract, multiply, and divide whole numbers

         C.       Read and write decimals

         D.       Add, subtract, multiply, and divide decimal numbers

         E.       Convert mixed numbers to improper fractions and vice versa

         F.       Add, subtract, multiply, and divide fractions

         G.       Write fractions as percents

         H.       Find the amount of sales when tax amount and tax rate are both known

         I.       Find the rate of return when the amount of the return and the investment are known

         J.       Solve percent increase and decrease problems

 II.     Bank Services

         A.       Checking Accounts

                 1.       Types of checking accounts

                 2.       Monthly service charges

                 3.       Deposit Slips

                 4.       Check Register

         B.      Credit Cards

         C.      Reconciliation

 III.     Selling

         A.       Markup on cost

         B.       Markup on selling price

         C.       Markdown

 IV.     Simple Interest

         A.       Solve for simple interest

         B.       Calculate maturity value

         C.       Find principal, rate, and time

 V.       Compound Interest

         A.       Use the compound interest formula

         B.       Define inflation and consumer price index

         C.       Define future value and present value

 VI.     Annuities, Stocks, & Bonds

         A.       Define the terms involved with annuities

         B.      Find the present value of annuity

         C.      Define types of stocks

         D.      Find the current yield on a stock

         E.       Find a stock`s PE ratio

         F.       Define a mutual fund

         G.       Find the commission charge on bonds and the cost of bonds

 VII.     Loans

         A.       Installment loans

                 1.       Find the total cost

                 2.      Find the finance charge

                 3.       Find APR

         B.      Early payoff of loans

         C.       Personal Property Loans

                 1.       Find monthly payment amounts

                 2.       Set up an amortization table

         D.       Real Estate Loans

                 1.       Determine monthly payments

                 2.      Prepare a prepayment schedule

 VIII.   Taxes

         A.       Property tax

         B.       Personal income tax

                 1.       Adjusted gross income

                 2.       Standard deduction amounts

                 3.       Determine a balance sheet or refund

 IX.     Financial Statements

         A.       Prepare and analyze an income statement

         B.      Prepare and analyze a balance sheet