PFLE.SS.9.A
Apply risk management strategies, including avoiding, reducing, retaining, and transferring risk.
Personal Financial Literacy and Economics · Texas Essential Knowledge and Skills (TEKS) · TEKS 2010
Standard Unwrapping
AI-generated as a starting point — sign in to edit.Vocabulary
risk management strategiesavoiding riskreducing riskretaining risktransferring risk
Skills
- define (risk management strategies) #dok1
- identify (types of risk management strategies) #dok1
- distinguish (among avoiding, reducing, retaining, and transferring risk) #dok2
- apply (risk management strategies to real-life scenarios) #dok3
- analyze (the effectiveness of different risk management strategies in various situations) #dok3
Learning Targets
- I can define risk management strategies and their components. #dok1
- I can identify examples of avoiding, reducing, retaining, and transferring risk. #dok1
- I can distinguish between avoiding, reducing, retaining, and transferring risk. #dok2
- I can apply risk management strategies to situations faced by individuals and families. #dok3
- I can analyze the effectiveness of different risk management strategies for specific scenarios. #dok3
Big Ideas
- Individuals and families face various risks that can impact their financial well-being.
- Choosing appropriate risk management strategies helps minimize potential financial loss.
Essential Questions
- What are the main strategies people use to manage financial risks?
- How does each risk management strategy help prevent or reduce potential financial loss?
- In what situations might you choose one risk management strategy over another?
- How can understanding risk management strategies protect your assets and income?
- Why is it important to regularly assess and adjust your risk management approach?