Wisconsin Indianhead Technical College
Course Outcome Summary
Course Information
Alternate Title previously 10102125 Personal Finance
Description Personal Finance introduces students to money management, taxes, financial services, credit, real estate, insurance, stocks, bonds, mutual funds, retirement planning, and estate planning.
Instructional Level Associate Degree Total Credits 3.00 Total Hours 48.00 Types of Instruction
Instruction Type Credits/Hours
Classroom Presentation (Lecture/Demonstration/Discussion) 3/48
Course History
Revised By Erin Winesburg (15237468)
Collegewide Outcomes
1. Communicate Effectively Status Active
Summative Assessment Strategies 1.1. Oral Presentation
1.2. Written Product Criteria
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 Status Active
Course Competencies
Domain Cognitive Level Synthesis Status Active
Assessment Strategies 1.1. on a written exam
1.2. by developing a personal financial plan Criteria
Your performance will be successful when:
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 Learning Objectives
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 Status Active
Assessment Strategies 2.1. on a written exam
2.2. by developing a personal financial plan Criteria
Your performance will be successful when:
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 Learning Objectives
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 Status Active
Assessment Strategies 3.1. on a written exam
3.2. by developing a personal financial plan Criteria
Your performance will be successful when:
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 Learning Objectives
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 Status Active
Assessment Strategies 4.1. on a written exam
4.2. by developing a personal financial plan 4.3. by balancing a checkbook
Criteria
Your performance will be successful when:
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 Learning Objectives
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 Status Active
Assessment Strategies 5.1. on a written exam Criteria
Your performance will be successful when:
5.1. you analyze the advantages and disadvantages of using credit Learning Objectives
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 Status Active
Assessment Strategies 6.1. on a written exam Criteria
Your performance will be successful when:
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
Learning Objectives
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 Status Active
Assessment Strategies
7.1. by completing a home buying simulation Criteria
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 Learning Objectives
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 Status Active
Assessment Strategies
8.1. by completing a written investment evaluation Criteria
Your performance will be successful when:
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 Learning Objectives
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 Status Active
Assessment Strategies
9.1. by completing a written investment evaluation Criteria
Your performance will be successful when:
9.1. you identify and analyze the major components of health insurance 9.2. you identify and analyze the major components of disability insurance Learning Objectives
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 Status Active
Assessment Strategies
10.1. by completing a written investment evaluation Criteria
Your performance will be successful when:
10.1. you determine life insurance needs for an individual
Learning Objectives
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 Status Active
Assessment Strategies 11.1. on a written exam
11.2. by completing a case study 11.3. by evaluating bond issues Criteria
Your performance will be successful when:
11.1. you analyze the major components of a bond investment 11.2. you analyze the risk and return options using bond investments
11.3. you evaluate and choose between different bond investments based on investor risk level, age, and objectives
Learning 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 Status Active
Assessment Strategies 12.1. on a written exam
12.2. by developing a personal financial plan 12.3. by evaluating stock issues
Criteria
Your performance will be successful when:
12.1. you analyze the major attributes of investing in stocks
12.2. you evaluate and choose between different stock investments based on investor risk level, age, and objectives
12.3. personal financial plan includes an analysis of various stock investments Learning Objectives
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 Status Active
Assessment Strategies 13.1. on a written exam
Criteria
Your performance will be successful when:
13.1. you identify the major features of mutual funds
13.2. personal financial plan includes an analysis of various mutual fund investments Learning Objectives
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 Status Active
Assessment Strategies 14.1. on a written exam
14.2. by developing a personal financial plan Criteria
Your performance will be successful when:
14.1. you analyze the major components of a retirement plan 14.2. you analyze the major components of an estate plan
14.3. your personal financial plan includes a developed retirement and estate plan Learning Objectives
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
