Day 57 (PF)

  1. Get the login sheet for Everfi & create your account
  2. Complete the survey
  3. In the upper right corner click the gear, choose My Profile, and type in your name–first & last
  4. Today you will begin:

MODULE 7–Taxes & Insurance

At the completion of this module you will be able to answer the following questions:

  1. What is tax revenue used for?
  2. What is the difference between sales tax and property tax?
  3. What types of insurance do people use and what are the benefits to having insurance?
  4. How does one pay for insurance?

Module 7 Learning Objectives:

  1. Recognize that the primary purpose of insurance is to mitigate risk
  2. Describe the coverage provided by different insurance types (ex. auto, renters, homeowners, health, disability, and life insurance)
  3. Define common terminology associated with insurance policies (ex. deductible, premium, copay, claim, coverage, policy)
  4. Calculate the cost associated with different insurance policies, based on the deductible and premium amounts.
  5. Explain how insurance companies evaluate policies based on individual risk.
  6. Identify and explain the purpose of common taxes (ex. property, sales, capital gains, state/federal income tax)
  7. Use components of a paystub to answer questions about income and taxation
  8. Identify taxes and other deductions that appear on a typical paystub
  9. Identify and explain the purpose of common tax forms (ex. W-2,W-4, and 1040-EZ)
  10. Practice completing end-of-year tax forms.


  1. Open the PERSONAL FINANCE Google Doc and answer the following questions (you will re-visit them at the conclusion of this unit):
    1. How do you feel about taxes?
    2. Why do you think we have taxes?
    3. What is the purpose and function of taxes in our economy?
  2. Get into Everfi and begin Module 7.
  3. Get the Iowa Department of Revenue Packet from your teacher.
  4. TEST: Review the pre-questions at the beginning of this unit. Re-answer each of the questions using red font AFTER your initial response (do not delete your initial answer) given the knowledge your gained during this lesson.

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