1.  Grab your handouts and settle in  Roll Call Question: Hard or soft shell tacos???  Bell Work:  How is interest of a savings account different from interest of a credit card?  Why do you think car insurance is mandatory?  What terms can we use when the bank takes away your house as collateral for your failure to pay back a loan

2.  WE ARE HAVING A SOCRATIC SEMINAR NEXT TUESDAY!!!!  You must bring your documents with note/annotations to class to participate  All those who do not will observe silently and complete an additional assignment  You must contribute to the discussion to receive credit for this assignment

3. Objective: Analyze the importance of insurance

4.  A. Life is full of Risk – uncertainty about a situation’s outcome

5.  B. Insurance – arrangement between an individual and an insurer to protect against risk  1. Purpose – helps limit financial losses when an accident/unexpected occurs

6.  A. A consumer must buy a policy – contract specifying the terms of the insurance arrangement  1. Premium - fee paid to the insurer to cover the losses and also the costs of operating the business

7.  2. Deductible – fee paid out of pocket by the policy holder before insurance can kick in  3. Co-Pay – % of your total medical bill paid when you visit the Dr.’s office or buy prescriptions

8.  Grab your handouts and settle in  Turn in your College and Career Readiness homework to the class tray  Roll Call Question: Would you rather explore the depths of the ocean or the depths of space?  Bell Work:  What can help us determine what Credit Card is best for us?  Explain the difference between a premium and a deductible  What type of insurance would you have to pay a co-pay? What about a deductible?

9.  We get to pick up the little guy tomorrow!!!!

10.  A. Automotive Insurance  1. covers car accidents and other damage to your car  B. Health Insurance  1. covers health-care costs, may include dental and vision

13.  25/50/25 or 100/300/100 … What do they mean?  Refers to the dollar amounts in 1000s associated with the level of Bodily Injury and Property Damage Coverage you have selected.  For instance, if you have 100/300/100 coverage  it means you have $100,000 for injury available per person, $300,000 total for the accident, with $100,000 allotted for property damage

14.  C. Home Owners/ Renters  1. covers loss of personal possessions, damage to property, and injury to others  D. Life Insurance  1. when a policy owner dies this covers debts, expenses, funeral and education

15. Objective: Determine how to be a responsible consumer in the 21 st century

16.  What is identity theft?  What is fraud?

17.  A. A crime in which someone wrongfully obtains and uses another person's personal information  Types:  Phishing  Skimming  Credit Card theft  video video

18.  a. attempt to acquire the identity of someone by asking for sensitive information  i.e. username, password, credit card number.  b. Watch Out For …being asked to update personal information  ** A legitimate business will always ask for the information on a secure website or in person.

19.  a. illegal copying of information from the magnetic strip of a credit or ATM card.  b. Watch out for… unusual devices on the ATM swipe machine

20.  a. Fraud spree: unauthorized charges on existing accounts.  b. Hackers can steal account information from personal computers or company computers.

21.  (1) Account takeovers  involve the criminal hijacking of an existing credit card account.  (2) Application Fraud  opening of credit card accounts in another person's name.

22.  lost or stolen cards  Your mailbox  Stealing your pin during a purchase  Your trash  Hacking Email  Over the phone  Personnel records  Employees of a business steal card info

23.  A. Deliberate deception usually for economic gain. Examples of Fraud:  Ponzi Schemes  Pyramid Schemes  On line scams

24. a. convince people to invest in a fake company for great returns. b. Once the scam artist feels that enough money has been collected, he disappears – with the money

25. 1. Convince a few people to invest. 2. Return some money to investors 3. Convince more investors based on success… many original investors will invest again 4. Repeat steps 1 through 3 a number of times. 5. Before step 2 in one of the cycles, disappear Bernie Madoff

26.  Grab today’s handout and settle in  Roll Call Question  Bell Work

28.  a. investment where each paying investor recruits two other investors. The first investor makes money from his recruits… they make money by recruiting more  b. People at the top make money from people on the bottom

29.  c. Main characteristic of a pyramid scheme is that participants only make money by recruiting more members. How Do Pyramid Schemes Work? Ponzi v. Pyramid

30.  a. Work at Home Ads  Too good to be true  b. Fake charity organizations  Natural disasters are popular “Be part of one of America’s Fastest Growing Industries. Be the Boss! Earn thousands of dollars a month from home”

31.  a. It includes viruses and spyware that get installed on your computer, phone, or mobile device without your consent.  b. Can be used for fraud

32.  Extra credit – due next Thursday  Test is Wednesday  If you will not be here Monday, EMAIL ME!!! You will still be expected to take your test.  Bring In your Dr. Suess Books!