Demonstrate the ability to manage an account in a financial institution.

Demonstration should include

• understanding basic terms (e.g., deposit, withdrawal, credit, debit)
• reading a bank statement
• calculating interest
• balancing a checkbook.

Process/Skill Questions:

Thinking

• What does it mean to reconcile an account? Why is reconciliation important to record keeping?
• How do you calculate interest on a financial account?
• What are the advantages of direct deposit?

Communication

• How do you interpret a bank statement?
• Why should you contact the financial institution when you detect a discrepancy in the account?

Leadership

• What are the consequences of writing a check without having sufficient funds?
• What personal qualities are needed to successfully manage a financial account?

Management

• How can devices assist with account management?
• How do you maintain a check register?