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Analyze and evaluate the cost-effectiveness of supplemental insurance.
Examples
Example: Evaluate the cost-effectiveness of extended warranties on three consumer products: a new automobile, a smart phone, and a dishwasher. Consider the likelihood that the product will fail, the cost of replacing the item, and the price of the warranty.Clarifications
Clarification 1: Instruction includes understanding how an extended warranty on a consumer product is a type of supplemental insurance.General Information
Subject Area: Social Studies
Grade: 912
Strand: Financial Literacy
Standard: Identify and analyze methods of protecting financial investments and personal information.
Date Adopted or Revised: 05/24
Status: State Board Approved
Related Courses
This benchmark is part of these courses.
2102305: Economics and Personal Finance Honors (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
2102373: Personal Finance and Money Management Honors (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
Related Access Points
Alternate version of this benchmark for students with significant cognitive disabilities.
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