Course Outcome Summary

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1 of /16/2015 9:14 AM Wisconsin Indianhead Technical College Course Outcome Summary Course Information Alternate Title Description Instructional Level Total Credits 3.00 Total Hours previously Personal Finance Personal Finance introduces students to money management, taxes, financial services, credit, real estate, insurance, stocks, bonds, mutual funds, retirement planning, and estate planning. Associate Degree Types of Instruction Instruction Type Credits/Hours Classroom Presentation (Lecture/Demonstration/Discussion) 3/48 Course History Revised By Erin Winesburg ( ) Collegewide Outcomes 1. Communicate Effectively Summative 1.1. Oral Presentation 1.2. Written Product 1.1. Read for information gathering, appreciation, and enjoyment 1.2. Write clearly, concisely, and accurately in a variety of contexts and formats 1.3. Speak clearly, concisely, and accurately in a variety of contexts and formats 1.4. Practice active listening Program Outcomes 1. Utilize investment and real estate fundamentals Course Competencies 1. Examine personal financial planning

00 previously 10102125 Personal Finance Personal Finance introduces students to money management, taxes, financial services, credit, real estate, insurance, stocks, bonds, mutual funds, retirement

2 of /16/2015 9:14 AM Domain Cognitive Level Synthesis 1.1. on a written exam 1.2. by developing a personal financial plan 1.1. you create financial goals 1.2. you calculate time value of money problems 1.3. personal financial plan includes setting personal financial goals 1.4. personal financial plan includes time value of money problems solutions 1.a. Identify social and economic influences on personal financial goals and decisions 1.b. Develop personal financial goals 1.c. Assess personal and financial opportunity costs associated with financial decisions 1.d. Implement a plan for making personal financial and career decisions 1.e. Calculate time value of money problems 2. Explore money management skills Domain Cognitive Level Analysis 2.1. on a written exam 2.2. by developing a personal financial plan 2.1. you develop a personal balance sheet, cash flow statement, and budget 2.2. you analyze a personal balance sheet, cash flow statement, and budget 2.3. personal financial plan includes a personal balance sheet, cash flow statement, and budget 2.a. Identify the main components of wise money management 2.b. Create a personal balance sheet and cash flow statement 2.c. Develop and implement a personal budget 2.d. Connect money management activities with saving for personal financial goals 3. Determine the role of taxes in your financial plan Domain Psychomotor 3.1. on a written exam 3.2. by developing a personal financial plan 3.1. you identify the items on a federal tax form and the associated schedules 3.2. personal financial plan includes a completed basic federal tax form 3.a. Identify the major taxes paid by people in our society 3.b. Calculate taxable income and the amount owed for federal income tax 3.c. Prepare a federal income tax return 3.d. Select appropriate tax strategies for various life situations 4. Investigate savings and payment services

personal financial plan includes time value of money problems solutions 1.a. Identify social and economic influences on personal financial goals and decisions 1.b. Develop personal financial goals 1.

3 3 of 6 11/16/2015 9:14 AM 4.1. on a written exam 4.2. by developing a personal financial plan 4.3. by balancing a checkbook 4.1. you identify different savings plans and associated benefits and drawbacks 4.2. you successfully balance a checkbook 4.3. personal financial plan includes assessment of alternative savings plans 4.a. Identify commonly used financial services 4.b. Compare the types of financial institutions 4.c. Evaluate different types of payment methods 5. Explore consumer credit: advantages, disadvantages, sources, and costs 5.1. on a written exam 5.1. you analyze the advantages and disadvantages of using credit 5.a. Analyze advantages and disadvantages of using consumer credit 5.b. Assess the types and sources of consumer credit 5.c. Determine whether you can afford a loan and how to apply for credit 5.d. Determine the cost of credit by calculating interest using various formaulas 5.e. Develop a plan to protect your credit and manage your debts 6. Examine consumer purchasing strategies and wise buying of motor vehicles Domain Psychomotor 6.1. on a written exam 6.1. you evaluate the purchase of an automobile 6.2. you evaluate the value of an automobile using an Internet Web site, such as Kelly Blue Book 6.3. you determine the monthly cost of owning an automobile 6.a. Identify strategies for effective consumer buying 6.b. Implement a process for making consumer purchases 6.c. Describe steps to take to resolve consumer problems 6.d. Evaluate legal alternatives available to consumers 7. Explore selecting and financing housing 7.1. by completing a home buying simulation

a. Identify commonly used financial services 4.b. Compare the types of financial institutions 4.c. Evaluate different types of payment methods 5.

4 4 of 6 11/16/2015 9:14 AM 7.1. you call a bank to get mortgage rates 7.2. you analyze a real estate listing 7.3. you create an amortization schedule 7.4. you estimate the total monthly cost of buying a home 7.a. Assess costs and benefits of renting 7.b. Implement the home-buying process 7.c. Determine costs associated with purchasing a home 7.d. Develop a strategy for selling a home 8. Examine home and automobile insurance 8.1. by completing a written investment evaluation 8.1. you identify and analyze the major components of property insurance 8.2. you identify the coverage that applies to various losses concerning home and auto insurance 8.a. Identify types of risks and risk management methods 8.b. Develop a risk management plan 8.c. Assess the insurance coverage and policy types available to homeowners and insurance 8.d. Analyze the factors that influence the amount of coverage and cost of home insurance 8.e. Identify the important types of automobile insurance coverage 8.f. Evaluate factors that affect the cost of automobile insurance 9. Examine health and disability income insurance 9.1. by completing a written investment evaluation 9.1. you identify and analyze the major components of health insurance 9.2. you identify and analyze the major components of disability insurance 9.a. Recognize the importance of health insurance in financial planning 9.b. Analyze the costs and benefits of various types of health insurance coverage as well as major provisions in health insurance policy 9.c. Assess the trade-offs of different health insurance plans 9.d. Evaluate the differences among healthcare plans offered by private companies and its sources 9.e. Explain the importance of disability income insurance in financial planning and its sources 9.f. Explain why the costs of health insurance and healthcare have been increasing 10. Analyze financial planning with life insurance by completing a written investment evaluation you determine life insurance needs for an individual you identify the major differences between the various forms of life insurance

Examine home and automobile insurance 8.1. by completing a written investment evaluation 8.1. you identify and analyze the major components of property insurance 8.2.

5 5 of 6 11/16/2015 9:14 AM 10.a. Define life insurance 10.b. Determine your life insurance needs 10.c. Distinguish between types of life insurance companies 10.d. Analyze various life insurance policies issued by life insurance companies 10.e. Select important provisions in life insurance contracts when buying life insurance 10.f. Recognize how annuities provide financial security 11. Explore investing basics and bonds on a written exam by completing a case study by evaluating bond issues you analyze the major components of a bond investment you analyze the risk and return options using bond investments you evaluate and choose between different bond investments based on investor risk level, age, and objectives 11.a. Explain why you should establish an investment program 11.b. Describe how safety, risk, income, growth, and liquidity affect your investment program 11.c. Identify the factors that can reduce investment risk 11.d. Describe why investors purchase government bonds 11.e. Recognize why investors purchase corporate bonds 11.f. Evaluate bonds when making an investment 12. Explore investing in stocks on a written exam by developing a personal financial plan by evaluating stock issues you analyze the major attributes of investing in stocks you evaluate and choose between different stock investments based on investor risk level, age, and objectives personal financial plan includes an analysis of various stock investments 12.a. Identify the most important features of common and preferred stock 12.b. Explain how you can evaluate stock investments 12.c. Analyze the numerical measures that cause a stock to increase or decrease in value 12.d. Describe how stocks are bought and sold 12.e. Explain the trading techniques used by long-term investors and short-term speculators 13. Explore investing in mutual funds on a written exam by developing a personal financial plan

Explore investing basics and bonds 11.1. on a written exam 11.2. by completing a case study 11.3. by evaluating bond issues 11.1. you analyze the major components of a bond investment 11.2. you analyze the risk and return options using bond investments 11.

6 of /16/2015 9:14 AM you identify the major features of mutual funds personal financial plan includes an analysis of various mutual fund investments 13.a. Explain the characteristics of mutual fund investments 13.b. Classify mutual funds by investment objective 13.c. Evaluate mutual funds 13.d. Describe how and why mutual funds are bought and sold 14. Examine retirement and estate planning on a written exam by developing a personal financial plan you analyze the major components of a retirement plan you analyze the major components of an estate plan your personal financial plan includes a developed retirement and estate plan 14.a. Analyze your current assets and liabilities for retirement 14.b. Estimate your retirement living costs 14.c. Determine your planned retirement income 14.d. Develop a balanced budget based on retirement income 14.e. Analyze the personal and legal aspects of estate planning 14.f. Distinguish among various types of wills and trusts

Examine retirement and estate planning 14.1. on a written exam 14.2. by developing a personal financial plan 14.1. you analyze the major components of a retirement plan 14.2. you analyze the major components of an estate plan 14.

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