Portable Assisted Study Sequence (PASS) Program

Course Description

The course is designed to address and build upon basic mathematical concepts that are applicable to real-world consumer situations like banking, finance, investments, housing, insurance, budgeting, employment, compensation, taxes, and starting and operating a small business. Students who successfully complete the course will develop the life skills needed to create a successful financial future and will learn important consumer skills.

Credits: 5

State Standards

Course Content

UNIT 1 — Introduction to Basic Consumer Math Skills

Unit Objectives
Upon completion of this Unit, students will be able to:

convert fractions to decimals to percents and the reverse: convert percents to decimals to fractions.
solve problems using the concepts of percentage, base, and rate.
learn the basic elements of opening and using checking and savings accounts.
use formulas to compute the simple and compound interest and apply the information to various practical situations.
manipulate formulas algebraically to compute quantities like rates, time period, and present value (principal), using the simple interest, compound interest, and future value formulas.
solve various word problems using the simple interest, compound interest, and future value formulas.
understand the importance of a promissory note when borrowing from a bank or individual.
compute the simple interest generated on loans when borrowing money, based on rates and time of loan repayment.
compute the regular payments when buying something on an installment plan.
understand the difference between the interest rate and the effective rate of interest.
understand the use of credit cards and how to compute balances on credit card accounts.

UNIT 2 — Major Financial Decisions

California Mathematics Content Standards and the California Career and Technical Education Standards:
Algebra 5.0 Students solve multistep problems, including word problems, involving linear equations and linear inequalities in one variable and provide justification for each step.
Career Pathways: Business Financial Management Pathway C2.1 Use basic concepts of financial analysis to interpret financial statements.
Career Pathways: Business Financial Management Pathway C2.2 Analyze and interpret financial statements to compare risk and return.
Career Pathways: Business Financial Management Pathway C2.6 Analyze investment and finance options available.
Career Pathways: Business Financial Management Pathway C4.0: Students understand insurance products and services in successful business management.
Career Pathways: Business Financial Management Pathway C4.1: Know the appropriate uses of the basic types of insurance policies.
Career Pathways: Business Financial Management Pathway C4.2: Understand the ways in which insurance reduces risk.
Mathematical Reasoning 1.1 Analyze problems by identifying relationships, distinguishing relevant and irrelevant information, sequencing and prioritizing information, and observing patterns.
Mathematical Reasoning 1.2 Formulate and justify mathematical conjectures based on a general description of the mathematical question or problem posed.
Mathematical Reasoning 1.3 Determine when and how to break a problem into simpler parts.
Mathematical Reasoning 2.8 Make precise calculations and check the validity of the results from the context of the problem.
Mathematical Reasoning 3.1 Evaluate the reasonableness of the solution in the context of the original situation.
Mathematical Reasoning 3.2 Note the method of deriving the solution and demonstrate a conceptual understanding of the derivation by solving similar problems.
Mathematical Reasoning 3.3 Develop generalizations of the results obtained and the strategies used and apply them to new problem situations.
Number Sense 1.1 Estimate, round, and manipulate very large and very small numbers.
Number Sense 1.3 Convert fractions to decimals and percents and use these representations in estimations, computations, and applications.
Number Sense 1.4 Calculate given percentages of quantities and solve problems involving discounts at sales, interest earned, and tips.
Number Sense 1.6 Calculate the percentage of increases and decreases of a quantity.
Number Sense 1.7 Solve problems that involve discounts, markups, commissions, and profit and compute simple and compound interest.
Number Sense 2.0 Students perform calculations and solve problems involving addition, subtraction, multiplication, and division of fractions and decimals.
Number Sense 3.0 Students solve problems involving addition, subtraction, multiplication, and division of whole numbers.

Unit Objectives
Upon completion of this Unit, students will be able to:

understand the process of financial planning and how important planning is in relation to sound consumer financial health.
describe how to purchase bonds and calculate the interest and annual yield generated by this investment.
explain how to invest in the stock market and stocks, brokerage fees, the P-E ratio, the yield %, net change, mutual funds, and graphs.
identify low risk investments like money market accounts, certificates of deposit, treasury bills, and savings bonds.
understand housing including the advantages and disadvantages of renting compared to buying a home, computing monthly rent or mortgage payments, property taxes, and the expenditures for maintenance.
explain the different types of insurance, namely, life, medical or health, homeowner or rental, and auto insurance and how to compute annual premiums.
understand the different types of life insurance, both temporary and permanent, including: annual renewable term, level term, mortgage term, whole, universal, variable, limited pay, endowment, and accidental death and dismemberment life insurance.
understand the advantages and disadvantages in the desicion to buy or lease an automobile.
identify the factors involved in buying and leasing a car and how to compute the monthly payment including taxes and fees.
understand the depreciation cost in buying a vehicle, how to compute the average annual depreciation and the rate of depreciation, and the costs involved in maintaining and repairing an automobile.

UNIT 3 — Personal Money Management

California Mathematics Content Standards and the California Career and Technical Education Standards:
Algebra 5.0 Students solve multistep problems involving linear equations and inequalities in one variable.
Career Pathways: Business Accounting Services Pathway A1.2 Examine, analyze, and categorize financial transactions.
Career Pathways: Business Financial Management Pathway C1.0 Students create and use budgets to guide financial decision making.
Career Pathways: Business Financial Management Pathway C1.1 Create a budget to calculate long-term financial projections.
Career Pathways: Business Financial Management Pathway C1.2 Analyze past and current budgets to determine financial needs.
Career Pathways: Business Financial Management Pathway C2.5 Determine creditworthiness on the basis of appropriate criteria and identify alternate sources of credit.
Career Pathways: Business Financial Management Pathway C4.2: Understand the ways in which insurance reduces risk.
Mathematical Reasoning 1.1 Analyze problems by identifying relationships, distinguishing relevant and irrelevant information, sequencing and prioritizing information, and observing patterns.
Mathematical Reasoning 1.2 Formulate and justify mathematical conjectures based on a general description of the mathematical question or problem posed.
Mathematical Reasoning 1.3 Determine when and how to break a problem into simpler parts.
Mathematical Reasoning 2.8 Make precise calculations and check the validity of the results from the context of the problem.
Mathematical Reasoning 3.1 Evaluate the reasonableness of the solution in the context of the original situation.
Mathematical Reasoning 3.2 Note the method of deriving the solution and demonstrate a conceptual understanding of the derivation by solving similar problems.
Mathematical Reasoning 3.3 Develop generalizations of the results obtained and the strategies used and apply them to new problem situations.
Number Sense 1.1 Estimate, round, and manipulate large and small numbers.
Number Sense 1.3 Convert fractions to decimals and percents and use these representations in estimations, computations, and applications.
Number Sense 1.4 Calculate given percentages of quantities and solve problems involving discounts at sales, interest earned, and tips.
Number Sense 1.6 Calculate the percentage of increases and decreases of a quantity.
Number Sense 1.7 Solve problems that involve discounts, markups, commissions, and profit and compute simple and compound interest.
Number Sense 2.0 Students perform calculations and solve problems involving addition, subtraction, multiplication, and division of fractions and decimals.
Number Sense 3.0 Students solve problems involving addition, subtraction, multiplication, and division of whole numbers.

Unit Objectives
Upon completion of this Unit, students will be able to:

identify the twelve major expense categories in a personal budget plan.
identify utility costs like heating, air conditioning, water, sewer, telephone, cable or satellite television, Internet service, etc.
explain the basics of health insurance plans.
understand the factors that create unreimbursed health costs for consumers.
explain the importance of leisure for mental health, the different ways to spend leisure time in recreation or entertainment, and the costs involved.
understand the different types of debt payments, including: housing mortgages, car loans, student loans, personal loans, and credit card debt.
understand and calculate the debt-to-income ratio in evaluating the amount of consumer debt in a personal budget.
explain the basic costs of food and clothing including how to calculate sale prices and the rate of discount and how to budget for each.
explain how to create and itemize a household budget by estimating income and expenses.
explain how to compare actual expenses to estimated budget expenses, using the results to adjust the budget.

UNIT 4 — The World of Work

California Mathematics Content Standards and the California Career and Technical Education Standards:
Algebra 5.0 Students solve multistep problems, including word problems, involving linear equations and linear inequalities in one variable and provide justification for each step.
Career Pathways: Listening and Speaking 2.3 Apply appropriate interview techniques.
Career Pathways: Accounting Services A2.6 Know payroll procedures.
Career Pathways: Business Financial Management Pathway C3.0 Students understand the impact of federal, state, and local regulations on financial management decisions.
Career Pathways: Business Financial Management Pathway C3.1 Understand the effects of tax structures on business decisions.
Career Pathways: Writing 2.5 Write good business letters, job applications, and résumés.
Career Planning and Management 3.0 Students understand how to make career decisions, use career information, and manage personal career plans.
Career Planning and Management 3.1 Know personal qualifications, interests, aptitudes, knowledge, and skills necessary to succeed in careers.
Career Planning and Management 3.2 Understand the scope of career opportunities and know the requirements for education, training, and licensure.
Career Planning and Management 3.3 Develop a career plan that is designed to reflect career interests, pathways, and postsecondary options.
Career Planning and Management 3.5 Understand the past, present, and future trends that affect careers, such as technological developments and societal trends, and the resulting need for lifelong learning.
Career Planning and Management 3.6 Know the important strategies for self-promotion in the hiring process, such as job applications, résumé writing, interviewing skills, and the preparation of a job portfolio.
Mathematical Reasoning 1.1 Analyze problems by identifying relationships, distinguishing relevant and irrelevant information, sequencing and prioritizing information, and observing patterns.
Mathematical Reasoning 1.2 Formulate and justify mathematical conjectures based on a general description of the mathematical question or problem posed.
Mathematical Reasoning 1.3 Determine when and how to break a problem into simpler parts.
Mathematical Reasoning 2.8 Make precise calculations and check the validity of the results from the context of the problem.
Mathematical Reasoning 3.1 Evaluate the reasonableness of the solution in the context of the original situation.
Mathematical Reasoning 3.2 Note the method of deriving the solution and demonstrate a conceptual understanding of the derivation by solving similar problems.
Mathematical Reasoning 3.3 Develop generalizations of the results obtained and the strategies used and apply them to new problem situations.
Number Sense 1.1 Estimate, round, and manipulate very large and very small numbers.
Number Sense 1.3 Convert fractions to decimals and percents and use these representations in estimations, computations, and applications.
Number Sense 1.4 Calculate given percentages of quantities and solve problems involving discounts at sales, interest earned, and tips.
Number Sense 1.6 Calculate the percentage of increases and decreases of a quantity.
Number Sense 1.7 Solve problems that involve discounts, markups, commissions, and profit and compute simple and compound interest.
Number Sense 2.0 Students perform calculations and solve problems involving addition, subtraction, multiplication, and division of fractions and decimals.
Number Sense 3.0 Students solve problems involving addition, subtraction, multiplication, and division of whole numbers.
Principles of Economics 12.4.2 Describe the current economy and labor market, including types of goods and services produced, types of skills workers need, the effects of rapid technological change, and the impact of international competition.
Principles of Economics 12.4.3 Discuss wage differences among jobs and professions, using laws of supply and demand, and the concept of productivity.

Unit Objectives
Upon completion of this Unit, students will be able to:

identify the skills and personal traits and values employers are looking for when hiring employees.
explain how to determine the best possible job fields and careers by matching skills and interests with various occupations.
explain how to research the job fields and careers which provide the best opportunities for employment now and in the future.
explain how to find a particular job and get hired including understanding cover letters, résumés, job applications, interviews, and follow-up.
understand how employees are paid: hourly wages, piecework, tips, incentive bonuses, salaries, and commissions.
explain how self-employed workers earn their incomes.
identify all the deductions taken from an employee's paycheck, including, but not limited to: federal and state income taxes, social security and Medicare taxes (FICA), health insurance premiums, retirement savings, etc.
explain social security, federal, and state taxes, how to perform the related basic calculations, and how to prepare a federal income tax return.

UNIT 5 — Starting and Operating a Small Business

California Mathematics Content Standards and the California Career and Technical Education Standards:
Algebra 5.0 Students solve multistep problems, including word problems, involving linear equations and linear inequalities in one variable and provide justification for each step.
Career Pathways: Accounting Services A2.1 Understand how to identify current and long-term assets and liabilities.
Career Pathways: Accounting Services A2.3 Understand the process involved in revenue recognition and in matching income and expenses.
Career Pathways: Accounting Services A2.5 Use basic concepts of financial analysis to interpret financial statements.
Career Pathways: Accounting Services A2.6 Know payroll procedures.
Career Pathways: Accounting Services A3.1 Understand the major types of business organizations and the risks and benefits of each.
Career Pathways: Accounting Services A4.4 Understand how planning and control principles are used to evaluate the performance of an organization.
Career Pathways: Business Financial Management C1.3 Understand how the financial needs of a business change in a dynamic and competitive marketplace.
Career Pathways: Business Financial Management C2.2 Know the legal rights and responsibilities of various types of businesses.
Career Pathways: Business Financial Management C2.6 Analyze investment and finance options available to prepare a cost-benefit analysis.
Career Pathways: Business Financial Management C3.0 Students understand the impact of federal, state, and local regulations on financial management decisions.
Career Pathways: Writing 2.6 Write technical documents, like business plans.
Mathematical Reasoning 1.1 Analyze problems by identifying relationships, distinguishing relevant and irrelevant information, sequencing and prioritizing information, and observing patterns.
Mathematical Reasoning 1.2 Formulate and justify mathematical conjectures based on a general description of the mathematical question or problem posed.
Mathematical Reasoning 1.3 Determine when and how to break a problem into simpler parts.
Mathematical Reasoning 2.8 Make precise calculations and check the validity of the results from the context of the problem.
Mathematical Reasoning 3.1 Evaluate the reasonableness of the solution in the context of the original situation.
Mathematical Reasoning 3.2 Note the method of deriving the solution and demonstrate a conceptual understanding of the derivation by solving similar problems.
Mathematical Reasoning 3.3 Develop generalizations of the results obtained and the strategies used and apply them to new problem situations.
Number Sense 1.1 Estimate, round, and manipulate very large and very small numbers.
Number Sense 1.3 Convert fractions to decimals and percents and use these representations in estimations, computations, and applications.
Number Sense 1.4 Calculate given percentages of quantities and solve problems involving discounts at sales, interest earned, and tips.
Number Sense 1.6 Calculate the percentage of increases and decreases of a quantity.
Number Sense 1.7 Solve problems that involve discounts, markups, commissions, and profit and compute simple and compound interest.
Number Sense 2.0 Students perform calculations and solve problems involving addition, subtraction, multiplication, and division of fractions and decimals.
Number Sense 3.0 Students solve problems involving addition, subtraction, multiplication, and division of whole numbers.

Unit Objectives
Upon completion of this Unit, students will be able to:

identify the positives aspects (pros) and challenges (cons) of starting and operating a small business.
understand that all businesses fall into one of four industries,

namely: retailing, manufacturing, service, and wholesaling.

explain the process of choosing the right business based on the

           skills, interests, and knowledge of the owner, plus doing the
           research to narrow the field of choice based on market
           conditions and personal circumstances.

identify the necessary components of a sound business plan, its importance in the success of a small business, and how to write a

simple one.

explain the importance of keeping accurate and complete

inventory records and how inventory is stored in the operation of a
retail business.

describe the various ways to finance a small business.
explain how to determine the assets, liabilities, and net worth (owner's equity) of a small business.
identify the components and importance of balance sheets, income statements, and payroll records in a small business.
explain the use of trade discounts and credits in the operation of a retail business.
understand how to compute the current ratio and quick ratio which are used to measure the liquidity of assets in a small business.
understand how to compute the average collection period and inventory turnover which are used to measure the financial health in a small business.
understand how to compute the break-even point which is used to find the conditions when total sales equal the cost of doing business.

Consumer Education

Course Description

Course Content