Essentials of Mathematics 10 -
Personal Banking

This sub-organizer contains the following sections:
Prescribed Learning Outcomes
Suggested Instructional Strategies
Suggested Assessment Strategies
Recommended Learning Resources

PRESCRIBED LEARNING OUTCOMES

It is expected that students will prepare bank forms including cheques, deposit slips, chequebook activity record and reconciliation statements

It is expected that students will:

• name and describe various types of commonly used consumer bank accounts
• complete various banking forms
• describe the use of a bank card for automated teller machines (ATMs) and debit payments
• identify different types of bank service charges and their relative costs
• reconcile financial statements, such as chequebooks and electronic bank transactions with bank statements

SUGGESTED INSTRUCTIONAL STRATEGIES

Using the services and facilities of banks, trust companies, and credit unions involves important life skills. This unit will give students opportunities to gain familiarity with many available banking procedures and appropriate banking forms.

• Invite a bank employee as a guest speaker to visit the classroom to talk about basic banking services. Ask the guest speaker to discuss the importance of using banking forms correctly and accurately. He or she could also relate stories of common errors and their implications.
• Have students complete bank forms, such as cheques and deposit and withdrawal forms.
• Have students update a sample chequebook record that includes cheques, deposits, withdrawals, and ATM, Internet, and telephone banking transactions (e.g., bill payments, transfers).
• Have students complete a statement reconciliation for a given sample chequebook record and corresponding bank statement.
• Brainstorm and record a list of typical bank transactions that might occur over the period of a month. From the list, have students create a chequebook record and corresponding bank statement and statement reconciliation.
• Have students work in pairs to create a poster that shows the interrelationship of chequebooks, activity records, bank statements, and reconciliation documents.

SUGGESTED ASSESSMENT STRATEGIES

Being able to use bank forms correctly and knowing current chequing account balances are valuable skills. Assessment should focus on students’ completion of various bank forms, noting the extent to which they pay attention to the details. Look for evidence of students’ ability to effectively use and reconcile bank statements.

Observe

• As students complete forms, pay close attention to the completion of pertinent parts such as last name, date, and the listing of individual cheques on deposit slips.
• While students complete chequebook activity records, note the extent to which they are able to place items in the correct places. Also pay attention to students’ ability to carry a running total.

Collect

• Collect students’ individual best examples of each of the following:
  • cheque
  • deposit slip
  • chequebook activity record
  • reconciliation form
    Look for clarity, accuracy, and completeness.

Question

• Ask students to explain the benefits of accuracy and completeness when completing bank documents.

Self-Assessment

• Place examples of correctly completed bank forms in the classroom and encourage students to compare their work to the examples. Ask students to comment on any differences they observe (e.g., short forms of dates).

RECOMMENDED LEARNING RESOURCES

Comprehensive learning resources for this course are currently under development. As an interim measure, schools are encouraged to use the teacher-developed learning resources distributed to schools (student and teacher resources). Please note that the student materials require photocopying for student use.

Video

• The ABC’s of Personal Finance

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Maintained by: Mathematics Coordinator
Revised: November 22, 2000

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