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Promissory Note Examples - Excel

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Promissory Note Examples document sample

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									                                          Arch Ford/Northwest Arkansas Instructional Alignment
                                                Banking and Finance Consumer Lending
                                                               Geometry / Literacy Task
          AR Department of Workforce Education
                                                                      Analysis
  CONTENT STANDARD/
                                Objective / Task Analysis
      Knowledge

                                       Unit 1: Introduction to Consumer Loans (20 hours)
1. Enduring Understanding -
1a. Essential Vocabulary -
1.1 Define consumer credit,   1.1.1 Describe the              1.1.1 Summarize,
installment loan, consumer    responsibilities of the         paraphrase, and critque
use of credit                 borrower and the lender         complex structures in
                              when a consumer loan is         infomartional and literary
                              granted                         texts, including
                                                              relationships among
                                                              concepts, details, and
                                                              visual components
1.2 Discuss how installment   1.2.1 Describe the              1.2.1 Summarize,
loans originated              characteristics of credit users paraphrase, and critque
                                                              complex structures in
                                                              infomartional and literary
                                                              texts, including
                                                              relationships among
                                                              concepts, details, and
                                                              visual components
1.3 Explain the reasons       1.3.1 Describe the              1.3.2 Communicate
consumers use credit          characteristics of credit users clearly the purpose of the
                              1.3.2 Discuss how these         writing
                              characteristics influence the
                              use of consumer credit

1.4 Identify the types of    1.4.1 Compare the lending        1.4.1 Identify
providers of consumer credit practices among the various      interrelationships
                             types of lending institutions    between and among
                             1.4.2 List the classifications   ideas and concepts
                             of consumer                      within a text
                             1.4.3 Describe how these
                             classifications affect how a
                             lender markets, administers,
                             and prices consumer credit
                             1.4.4 List the categories of
                             consumer loans
1.5 Define real property     1.5.1 Discuss the various        1.5.1 Communicate
loans                        types of loans included in       clearly the purpose of the
                             this category                    writing
1.6 Define home               1.6.1 List examples of home      1.6.2, 1.6.3, 1.6.4
improvement                   improvement                      Summarize, paraphrase,
                              1.6.2 Describe a                 and critque complex
                              government-insured home          structures in
                              improvement loan                 infomartional and literary
                              1.6.3 Describe a                 texts, including
                              conventional loan                relationships among
                              1.6.4 Compare secured and        concepts, details, and
                              unsecured home                   visual components
                              improvement loans
1.7 Define lien                                                1.7 Define specialized
                                                               vocabulary
1.8 Define manufactured                                        1.8 Define specialized
home                                                           vocabulary


1.9 Define indirect loans                                      1.9 Define specialized
                                                               vocabulary


1.10 Define chattel                                            1.10 Define specialized
                                                               vocabulary


1.11 Define equity            1.11.1 Discuss home equity       1.11.1 Communicate
                              loans and how they benefit       clearly the purpose of the
                              lenders                          writing
1.12.1 Define vehicle loans   1.12.1 List the various types    1.12.2 & 1.12.3
                              of vehicle loans                 Communicate clearly the
                              1.12.2 Discuss why               purpose of the writing
                              automobile loans are the
                              largest single category of
                              consumer
                              1.12.3 Discuss collateral for
                              automobile loans
1.13 Define recreational      1.13.1 Discuss the               1.13.1 Communicate
vehicles                      recreational vehicle market      clearly the purpose of the
                                                               writing
1.14 Define marine loans      1.14.1 Discuss the loan          1.14.1, 1.14.2, 1.14.3, 1.14.4
                              terms for marine loans           Identify the main ideas
                              1.14.2 Discuss financing for     and determine the
                              aircraft loans                   essential elements that
                              1.14.3 List the types of loans   support the main ideas
                              that are categorized as
                              "other consumer loans"
                              1.14.4 Discuss education
                              loans
1.15 Present the Higher
Education Act of 1965
1.16 Define deposit account                                      1.16 Define specialized
loans                                                            vocabulary


1.17 Define secondary                                            1.17 Define specialized
market                                                           vocabulary


1.18 Define personal loans      1.18.1 Discuss various           1.18.1 Communicate
                                reasons for personal loans       clearly the purpose of the
                                                                 writing
1.19 Define check credit        1.19.1 Discuss the purpose       1.19.1 Communicate
                                of check credit                  clearly the purpose of the
                                                                 writing
1.20 Define overdraft           1.20.1 Discuss benefits of       1.20.2& 1.20.4 Identify
revolving credit                overdraft protection             interrelationships
                                1.20.2 Discuss advantages        between and among
                                and disadvantages of credit      ideas and concepts
                                cards                            within a text
                                1.20.3 Compare types of
                                card users
                                1.20.4 Discuss how lenders
                                offer credit card services
1.21 Define card issuers        1.21.1 Discuss why the           1.21.1Communicate
and agents                      credit card market is so         clearly the purpose of the
                                competitive                      writing




                              Unit 2: Laws and Regulations Affecting Consumer Loans (5 hours
2. Enduring Understanding -
2a. Essential Vocabulary -
2.1 Determine the               2.1.1 List each regulator and
government agencies that        the type of institutions it
regular consumer lending        monitors
practices for banks, credit
unions, and savings
institutions
2.2 Determine the primary       2.2.1 List the three areas of
focus of consumer protection    regulations and at least three
regulations and laws relating   key laws in each area
to consumer credit
2.3 Determine the primary     2.3.1 State two kinds of       2.3.1 Summarize,
objective of the Uniform      bankruptcy plans and their     paraphrase, and critque
Consumer Credit Code          differences                    complex structures in
(UCCC)                                                       infomartional and literary
                                                             texts, including
                                                             relationships among
                                                             concepts, details, and
                                                             visual components
2.4 Present the bankruptcy    2.4.1 State two kinds of       2.4.1 Summarize,
laws                          bankruptcy plans and their     paraphrase, and critque
                              differences                    complex structures in
                                                             infomartional and literary
                                                             texts, including
                                                             relationships among
                                                             concepts, details, and
                                                             visual components
2.5 Define Community       2.5.1 Discuss the                 2.5.1 Communicate
Reinvestment Act (CRA) and responsibilities that financial   clearly the purpose of the
its purpose                institutions have to their        writing
                           communities
                                                       Unit 3: Interest (3-5 hours)
3. Enduring Understanding -
3a. Essential Vocabulary -
3.1 Define interest           3.1.1 List the factors upon
                              which the amount of interest
                              paid on a loan depends
                              3.1.2 Identify the interest
                              formula
3.2 Define amortization       3.2.1 Explain the correlation 3.2.1 Identify
                              between reduced principal     interrelationships
                              and reduced interest          between and among
                                                            ideas and concepts
                                                            within a text
3.3 Identify the three        3.3.1 Compare the three       3.3.2, 3.3.3, 3.3.4 Follow
methods of calculating        methods of calculating        instructions to perform
interest                      interest                      specific tasks, answer
                              3.3.2 Perform simple          questions, or solve
                              interest calculations         problems
                              3.3.3 Perform add-on
                              interest calculations
                              3.3.4 Perform discount
                              interest calculations
3.4 Identify the three        3.4.1 Compare the interest 3.4.1 Identify
common methods used for       yield on a loan using the     interrelationships
determining the number of     three methods of calculations between and among
days on which to calculate                                  ideas and concepts
interest in a year                                          within a text
3.5 Discuss the two types of 3.5.1 List examples of two       3.5.3 Communicate
loans - closed-end loans and types of loans                   clearly the purpose of the
open-end loans               3.5.2 Figure a monthly loan      writing
                             payment using an
                             amortization table
                             3.5.3 Discuss how monthly
                             payments are calculated
3.6 Define finance charge    3.6.1 Contact an area bank
                             for its disclosure brochure
                             regarding finance charges
3.7 Define annual            3.7.1 Invite a loan officer      3.7.1 Ask questions that
percentage rate (APR) and    from an area bank to             require textual support
explain how it is different  address the Truth in Lending
from interest                Act
3.8 Consider possible        3.8.1 Discuss early              3.8.1 Communicate
factors involved in early    repayment penalties              clearly the purpose of the
repayment of a loan                                           writing
                                       Unit 4: Applying for a Consumer Loan (5-7 hours)
4. Enduring Understanding -
4a. Essential Vocabulary -
4.1 Determine clear loan      4.1.1 List topics that should   4.1.1 Identify the main
policies and underwriting     be addressed in loan policies   ideas and determine the
standards                     4.1.2 List examples of          essential elements that
                              underwriting standards          support the main ideas
                              4.1.3 List methods of taking
                              consumer loan applications

4.2 Explain the elements of   4.2.1 List eight elements       4.2.2 Communicate
a complete loan application   common to consumer loan         clearly the purpose of the
                              applications                    writing
                              4.2.2 List and discuss
                              specific documents required
                              in the application process
4.3 Determine the methods     4.3.1 List characteristics of a
of detecting consumer loan    fraudulent loan application
fraud
                                                         Unit 5: Credit (10 hours)
5. Enduring Understanding -
5a. Essential Vocabulary -
5.1 Identify the four C's of   5.1.1 Relate character,         5.1.1 Summarize,
credit                         credit, capacity, and           paraphrase, and critque
                               collateral to the elements of   complex structures in
                               a loan application              infomartional and literary
                                                               texts, including
                                                               relationships among
                                                               concepts, details, and
                                                               visual components
5.2 Define credit-reporting    5.2.1 Explain the purpose of    5.2.1 Communicate
agency                         an agency and how agencies      clearly the purpose of the
                               can be used or beneficial to    writing
                               a lender
5.3 Identify the three primary 5.3.1 List advantages and       5.3.1& 5.3.2 Identify the
sources of credit verification disadvantages of each           main ideas and determine
                               source                          the essential elements
                               5.3.2 Discuss the three         that support the main
                               primary resources used to       ideas
                               verify collateral and what
                               lenders look for
5.4 Analyze the different
elements used in credit
reports, income analysis,
debt analysis, and risk
analysis to make the credit
decision
5.5 Describe the events that 5.5.1 List ways applicants
trigger the notification       may be notified of the credit
requirements of the Equal      decision under certain
Credit Opportunity Act         circumstances
5.6 Describe an indirect loan 5.6.1 Discuss under what         5.6.1 Communicate
                               circumstances an indirect       clearly the purpose of the
                               loan may occur                  writing
                                Unit 6: Establishing and Perfecting Security Interest (5 hours)
6. Enduring Understanding -
6a. Essential Vocabulary -
6.1 Review the four C's of     6.1.1 Discuss the purpose       6.1.1 Communicate
credit                         and process of accepting        clearly the purpose of the
                               collateral                      writing
6.2 Define liquidate           6.2.1 Discuss the limitations   6.2.1, 6.2.2, 6.2.3 Identify
                               of using collateral for         the main ideas and
                               repayment                       determine the essential
                               6.2.2 List the four major       elements that support the
                               characteristics of              main ideas
                               determining collateral
                               adequacy
                               6.2.3 Discuss identification
                               and condition
6.3 Define depreciation        6.3.1 Identify how value is
                               determined
6.4 Define purchase money
loan
6.5 Define lien holder         6.5.1 Discuss prior liens and     6.5.1 Communicate
                               encumbrances                      clearly the purpose of the
6.6 Define perfection of a     6.6.1 Compare/contrast            writing
                                                                 6.6.1 Identify
security interest              perfection of a security          interrelationships
                               interest by filing,               between and among
                               possessions, and automatic        ideas and concepts
                               perfection                        within a text
                               6.6.2 Explain the process of
                               perfection by filing a
                               financing statement
                               6.6.3 Discuss perfection by
                               possession
6.7 Define automatic           6.7.1 List examples of            6.7.2 Communicate
perfection                     automatic perfection              clearly the purpose of the
                               6.7.2 Discuss risks to the        writing
                               lender of automatic perfection

6.8 Define attachment          6.8.1 Discuss attachment          6.8.1 & 6.8.2 Summarize,
                               and perfection as necessary       paraphrase, and critque
                               elements in obtaining a           complex structures in
                               security interest in collateral   infomartional and literary
                               6.8.2 Explain why the lender      texts, including
                               must be aware of the              relationships among
                               elements to both attachment       concepts, details, and
                               and perfection                    visual components
6.9 Determine the              6.9.1 Discuss the lender's        6.9.1 Communicate
procedure of terminating a     responsibility in filing a        clearly the purpose of the
financing statement            termination statement             writing
                                                             Unit 7: Loans (5 hours)
7. Enduring Understanding -
7a. Essential Vocabulary -
7.1 Define promissory note     7.1.1 Discuss the elements 7.1.1 Communicate
                               and purpose of a promissory clearly the purpose of the
                               note                        writing
7.2 State the truth in lending 7.2.1 List the element that
disclosures necessary for      must be disclosed to
consumer loans                 borrowers
7.3 Define security            7.3.1 Discuss the purpose of 7.3.1 Communicate
agreement                      a security agreement         clearly the purpose of the
                                                            writing
7.4 Identify the importance
of a collateral description


7.5 Define acceleration          7.5.1 Discuss why an                 7.5.1 Communicate
clause and collection costs      acceleration clause may be           clearly the purpose of the
                                 invoked                              writing
7.6 Identify the documents       7.6.1 Explain how a security         7.6.1, 7.6.2, 7.6.3, 7.6.4
and process necessary for        interest in indirect loans is        Identify the main ideas
perfecting a security interest   perfected                            and determine the
in direct loans                  7.6.2 Describe the purpose           essential elements that
                                 of a certificate of title notation   support the main ideas
                                 7.6.3 Explain what
                                 documents are necessary to
                                 secure an aircraft loan
                                 7.6.4 Describe the purpose
                                 of a financing statement
7.7 Identify the documents       7.7.1 Describe the         7.7.1 Identify the main
needed for loans secured by      documents lenders use to   ideas and determine the
real property                    secure loans by real property
                                                            essential elements that
                                                            support the main ideas
7.8 Define junior lien/second 7.8.1 Discuss the purpose of 7.8.1 & 7.8.2
mortgage                      a junior lien/second mortgage Communicate clearly the
                              7.8.2 Discuss the difference purpose of the writing
                              between first and junior
                              mortgage instruments

7.9 Explain the right of         7.9.1 Describe the        7.9.1 Identify the main
rescission                       conditions of the right ofideas and determine the
                                 rescission/cancellation   essential elements that
                                                           support the main ideas
7.10 Identify key internal  7.10.1 List examples of        7.10.2 Identify the main
documentation a bank must information that must be         ideas and determine the
create once a loan has been recorded by the bank           essential elements that
approved                    7.10.2 Identify key parts of a support the main ideas
                            welcome letter that should
                            be sent to new borrowers
7.11 Describe loan-closing  7.11.1 Identify the purpose
                            of a consumer loan closing
7.12 Describe three ways of 7.12.1 List the three ways     7.12.1 Identify the main
disbursing loan proceeds    loan proceeds are distributed ideas and determine the
                            and the conditions for using essential elements that
                            the method                     support the main ideas
7.13 Describe the methods 7.13.1 List the methods of
in which payments can be    payment for a consumer loan
made by the borrower
                                                Unit 8: Servicing Consumer Loans (5 hours)
8. Enduring Understanding -
8a. Essential Vocabulary -
8.1 Describe promissory          8.1.1 List the three things
notes                            set forth in a promissory note
8.2 Name the three most          8.2.1 Discuss the                 8.2.1 Communicate
commonly used payment            responsibility of the bank to     clearly the purpose of the
systems available to             process and apply loan            writing
borrowers                        payments
8.3 Identify reasons to use      8.3.1 Explain the four types      5.2.1 Communicate
different processing types       of payment processing             clearly the purpose of the
                                 systems used by banks             writing
8.4 Classify reports that        8.4.1 List the two                8.4.2 Summarize,
lending personnel are            classifications of consumer       paraphrase, and critque
responsible for                  loan reports                      complex structures in
                                 8.4.2 List and discuss four       infomartional and literary
                                 required reports and four         texts, including
                                 optional reports and their        relationships among
                                 uses                              concepts, details, and
                                                                   visual components
8.5 Explain servicing of         8.5.1 Name two major              8.5.1 & 8.5.3 Identify the
indirect loans                   responsibilities for servicing    main ideas and determine
                                 indirect loans                    the essential elements
                                 8.5.2 Discuss methods and         that support the main
                                 responsibilities of servicing     ideas
                                 consumer loans in
                                 responding to inquiries
                                 8.5.3 List six common types
                                 of inquiries
8.6 Name the two ways            8.6.1 List the responsibilities
financial intermediaries offer   assumed by a card issuer
established national bank        and by an agent
credit cards
                                  Unit 9: Loan Collections and Consumer Bankruptcy (5 hours)
9. Enduring Understanding -
9a. Essential Vocabulary -
9.1 Identify the factors that    9.1.1 Discuss reasons,            9.1.1 Identify
affect delinquency rates for     based on delinquency rates,       interrelationships
consumer loans                   that consumer loans have          between and among
                                 different levels of risk for      ideas and concepts
                                 lenders                           within a text
9.2 Identify circumstances       9.2.1 List the classifications
that may cause a lender to       of delinquent borrowers
show exception to a
delinquent borrower
9.3 Identify the components   9.3.1 Invite a loan officer         9.3.1Ask questions that
of an effective collection    from a bank to explain              require textual support
policy                        his/her institution's collection
                              policy, including examples of
                              collection documents
9.4 Determine the             9.4.1 Research the Fair             9.4.1 Use technology to
provisions of the Fair Debt   Debt Collection Practices Act       research or locate
Collection Practices Act      using the Internet, and             information
                              prepare a summary
9.5 Identify the steps and    9.5.1 Discuss the                   9.5.1 Communicate
purposes of preliminary       background information one          clearly the purpose of the
collection procedures         would need to begin the             writing
                              collection process
9.6 Identify the methods that 9.6.1 Discuss situations that       9.6.1 Analyze a position
a lender may employ to        may determine the collection        using concepts gained
contact a delinquent borrower method a lender may choose          from reading
                              to use and the strengths            9.6.1 Defend a position
                              and/or weaknesses of each           with specific evidence
                                                                  from a text
9.7 Identify the two remedial 9.7.1 Discuss the two               9.7.1 Identify
payment plans                 remedial payment plans and          interrelationships
                              the circumstances under             between and among
                              which forbearance or wage           ideas and concepts
                              garnishment would be best           within a text
9.8 Identify the two means       9.8.1 Review Revised Article
of collateral acquisition on a   9 of the Uniform Commercial
delinquent secured loan          Credit Code (UCCC)
9.9 Discuss loan charge-off      9.9.1 Contact a bank
procedures and why charge-       examiner or accountant to
offs are necessary               present information
                                 regarding charge-off
                                 procedures and how a
                                 charge-off affects a lender's
9.10 Define bankruptcy and       9.10.1 Examine newspapers        9.10.1 Access multiple
identify the goal of current     to gain an awareness of the      sources, using a variety
bankruptcy law                   occurrence of consumer           of research tools
                                 bankruptcy
9.11 Explain Chapter 7           9.11.1 Arrange a field trip to
bankruptcy                       bankruptcy court
9.12 Explain Chapter 13          9.12.1 Invite a judge as a       9.12.1 Ask questions that
bankruptcy                       guest speaker to discuss         require textual support
                                 bankruptcy issues
9.13 Describe procedures         9.13.1 Invite a credit           9.13.1 Ask questions that
lenders may use to prevent       counselor as a guest speaker     require textual support
or reduce losses caused by
bankruptcy
kansas Instructional Alignment
 nce Consumer Lending
                  Additional     Materials/    Geometry      Literacy
                  Vocabulary     Resources    Connections   Connections



Consumer Loans (20 hours)



                summarize                                   R.9.11.6
                paraphrase                                  R.9.12.7
                critique




                summarize                                   R.9.11.6
                paraphrase                                  R.9.12.7
                critique




                                                            W.4.11.2
                                                            W.4.11.3




                inter-                                      R.10.11.2
                relationships




                                                            W.4.11.2
                                                            W.4.11.3
summarize    R.9.11.6
paraphrase   R.9.12.7
critique




             R.11.11.1

             R.11.11.1



             R.11.11.1



             R.11.11.1



             W.4.11.2
             W.4.11.3


             W.4.11.2
             W.4.11.3




             W.4.11.2
             W.4.11.3


             R.10.11.2
                                     R.11.11.1



                                     R.11.11.1



                                     W.4.11.2
                                     W.4.11.3


                                     W.4.11.2
                                     W.4.11.3


             inter-                  R.10.11.2
             relationships




                                     W.4.11.2
                                     W.4.11.3




Affecting Consumer Loans (5 hours)
               summarize       R.9.11.6
               paraphrase      R.9.12.7
               critique




               summarize       R.9.11.6
               paraphrase      R.9.12.7
               critique




                               W.4.11.2
                               W.4.11.3



erest (3-5 hours)




               inter-          R.10.11.2
               relationships




                               R.10.12.2




               inter-          R.10.11.2
               relationships
                            W.4.11.2
                            W.4.11.3




               open-ended   IR.12.12.1




                            W.4.11.2
                            W.4.11.3


Consumer Loan (5-7 hours)



                            R.10.11.2




                            W.4.11.2
                            W.4.11.3




redit (10 hours)
               summarize              R.9.11.6
               paraphrase             R.9.12.7
               critique




                                      W.4.11.2
                                      W.4.11.3


                                      R.10.11.2




                                      W.4.11.2
                                      W.4.11.3


fecting Security Interest (5 hours)



                                      W.4.11.2
                                      W.4.11.3

                                      R.10.11.2
                                 W.4.11.2
                                 W.4.11.3
                 inter-          R.10.11.2
                 relationships




                                 W.4.11.2
                                 W.4.11.3



                                 R.9.11.6
                                 R.9.12.7




                                 W.4.11.2
                                 W.4.11.3


oans (5 hours)



                                 W.4.11.2
                                 W.4.11.3




                                 W.4.11.2
                                 W.4.11.3
                          W.4.11.2
                          W.4.11.3


                          R.10.11.2




                          R.10.11.2




                          W.4.11.2
                          W.4.11.3




                          R.10.11.2




                          R.10.11.2




                          R.10.11.2




onsumer Loans (5 hours)
                                  W.4.11.2
                                  W.4.11.3


                                  W.4.11.2
                                  W.4.11.3

             summarize            R.9.11.6
             paraphrase           R.9.12.7
             critique




                                  R.10.11.2




d Consumer Bankruptcy (5 hours)



             inter-               R.10.11.2
             relationships
open-ended      IR.12.12.1




                W.4.12.1




                W.4.11.2
                W.4.11.3


Text            R.9.11.10
Evidence




inter-          R.10.11.2
relationships




research        IR.12.12.3




open-ended      IR.12.12.1


open-ended      IR.12.12.1

								
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