37.2 Household Inventory

Almost daily in our communities, fire, tornadoes, or other catastrophic events completely destroy homes and their contents. Your homeowners or renters insurance provide coverage for the contents, up to the limit you select with your policy. In the event of total loss, you will be expected to provide a list of all of your personal property that was damaged or destroyed, along with its estimated value. The replacement cost of the home is relatively easy for the insurance company to determine. However, determining the contents and their value presents a more difficult problem.

 Watch this video on how to take a household inventory. Know Your Stuff

How will you personally create a household inventory?

37.1 Fundamentals of Insurance

While no one can actually predict life expectancy, and the game can’t take existing medical conditions into account, the factors you’ll encounter do have a significant impact on longevity.

Longevity Game

1. Based on the game, what risks can decrease your life expectancy?
2. The cost of a life insurance policy is partially based on risk assessment. Please rank the top three risks that you think affect the cost of life insurance. Explain why you chose the answers you did.

29 Credit Resources

Take a look at both of these interactive resources regarding credit. In your opinion, which would be the best complement for the reading material in the chapter? Be sure you are familiar with the chapter and the websites before answering the questions.

Haunted Mansion

Credit Card Game

Answer the following questions.

1. Which website did you prefer? Why?
2. What does the website have in common with your chapter 29 information?
3. What did you learn from the book that you can’t learn from the website?
4. What did you learn from the game that wasn’t written about in the textbook.
5. What were your end results with the website?

OPEN THIS SITE USING THE MAXTHON BROWSER.

28.1 Public Service Announcement

Iowa Attorney General’s Website

Your goal is to write either a one-minute or two thirty-second Public Service Announcements about the topic of your choice.

Visit the Iowa Attorney General’s Website. Select a topic from either of these two categories and create the PSA.

1. Credit and Finance
2. E-Commerce and Business

You may work with a partner if you decide to write a one-minute script.

Post your PSA’s here. These PSA’s will be read in class if time permits.

PSA Chapter 28 Dialog

PSA Script

27.5 Money Order

DEFINITION: A financial instrument issued by a bank or other institution allowing the named on the order to receive the amount of mony on the order on demand. One of the main benefits of a money order is that it is more trusted than a personal check, because it is prepaid.

With a partner, find an institution that sells money orders. Post the following information about that institution.

1. Name of instutution
2. Your source of information (phone call, internet link, etc.)
3. Cost of a money order
4. How often money orders are sold per week or month
5. When you might use a money order in your personal life.

27.4 Certified Checks

DEFINITION:  A certified check is a check that your banking institution guarantees with funds in your own bank account. To obtain a certified check you need to go in person to your bank and have the cashier prepare the check for you, with the payee’s name on the check and your signature. Your banking institution will then reserve that amount of money in your account as untouchable — thus guaranteeing the certified check will not bounce. It’s as good as cash but safer to mail or carry around, especially if the amount is large.

With a parter, post the following information.

1. Find an institution that certifies checks and post the name of the institution.
2. What is the cost of having a check certified?
3. How might you personally use a certified check?

SORRY NO DUPLICATE ANSWERS

27.3 Cashier’s Checks

DEFINITION: A check written by a financial institution on its own funds. It is then signed by a representative of the financial institution and made payable to a third party. A customers who purchases a cashier’s check pays for the full face value of the check and usually also pays a small premium for the service. These checks are secured by the funds of the issuer – usually a bank – and include the name of a payee (the entity to which the check is payable), and the name of the remitter (the entity that paid for the check).

Work with a partner. Find a financial institution that provides cashier’s checks. Post the following information.

1. Source of your information (website, phone call, etc.)
2. How often cashier’s checks are written on the average per week or month.
3. Cost of a cashier’s check

SORRY. NO DUPLICATE ANSWERS.