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TITLE 19EDUCATION
PART 2TEXAS EDUCATION AGENCY
CHAPTER 113TEXAS ESSENTIAL KNOWLEDGE AND SKILLS FOR SOCIAL STUDIES
SUBCHAPTER CHIGH SCHOOL
RULE §113.76Personal Financial Literacy and Economics (One-Half Credit)

    (H) develop a long-term investing strategy to achieve a goal such as a financially secure retirement.

  (9) Personal financial literacy--protecting and insuring. The student recognizes financial risks faced by individuals and families and identifies strategies for handling these risks to avoid potential loss of assets and earning potential. The student is expected to:

    (A) apply risk management strategies, including avoiding, reducing, retaining, and transferring risk;

    (B) define insurance terminology, including premiums, deductibles, co-pays, and policy limits;

    (C) explain the costs and benefits of different types and sources of health insurance;

    (D) explain the costs and benefits of disability and long-term care insurance;

    (E) explain the costs and benefits of life insurance, including term insurance and whole life insurance;

    (F) explain the costs and benefits of property insurance, including homeowner's and renter's insurance;

    (G) explain the costs and benefits of automobile insurance and factors that impact the price of insurance, including the type of vehicle, age and sex of driver, driving record, deductible, and geographic location;

    (H) identify ways to reduce risk of identity theft and protect personal information;

    (I) describe and identify examples of common financial schemes and scams such as Ponzi schemes and pyramid, phishing, check cashing, and home renovation scams;

    (J) explain how consumer protection agencies protect consumers against fraud; and

    (K) explain the importance of estate planning, including guardianship of minor children, wills, beneficiary designation, power of attorney, living will, and medical directives.

  (10) Personal financial literacy skills. The student understands how to set personal financial goals. The student is expected to:

    (A) use problem-solving and decision-making processes to identify a problem, gather information, list and consider options, consider advantages and disadvantages, choose and implement a solution, and evaluate the effectiveness of the solution;

    (B) develop a budget that addresses short-, medium-, and long-term financial goals; and

    (C) explain why earning income, spending, credit, debt, saving and investing, and protecting and insuring assets are important parts of a comprehensive financial plan and develop a plan that incorporates these components.


Source Note: The provisions of this §113.76 adopted to be effective August 1, 2022, 47 TexReg 4511

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