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Promissory Notes Examples - Excel

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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 when     complex structures in
                              a consumer loan is granted       infomartional and literary
                                                               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 clearly
consumers use credit          characteristics of credit users the purpose of the writing
                              1.3.2 Discuss how these
                              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 between
                             types of lending institutions     and among ideas and
                             1.4.2 List the classifications    concepts within a text
                             of consumer
                             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 clearly
loans                        types of loans included in this   the purpose of the writing
                             category
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 government- and critque complex
                              insured home improvement structures in infomartional
                              loan                         and literary texts,
                              1.6.3 Describe a             including relationships
                              conventional loan            among concepts, details,
                              1.6.4 Compare secured and and visual components
                              unsecured home
                              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 between
                             1.20.2 Discuss advantages           and among ideas and
                             and disadvantages of credit         concepts within a text
                             cards
                             1.20.3 Compare types of
                             card users
                             1.20.4 Discuss how lenders
                             offer credit card services
1.21 Define card issuers and 1.21.1 Discuss why the credit       1.21.1Communicate
agents                       card market is so competitive       clearly the purpose of the
                                                                 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 clearly
Reinvestment Act (CRA) and responsibilities that financial    the purpose of the writing
its purpose                institutions have to their
                           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 between
                              and reduced interest          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 interest   questions, or solve
                              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 between
determining the number of     three methods of calculations   and among ideas and
days on which to calculate                                    concepts within a text
interest in a year
3.5 Discuss the two types of 3.5.1 List examples of two         3.5.3 Communicate clearly
loans - closed-end loans and types of loans                     the purpose of the writing
open-end loans                   3.5.2 Figure a monthly loan
                                 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 address   require textual support
explain how it is different from the Truth in Lending Act
interest
3.8 Consider possible factors 3.8.1 Discuss early               3.8.1 Communicate clearly
involved in early repayment of repayment penalties              the purpose of the writing
a loan
                                         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 a 4.2.1 List eight elements   4.2.2 Communicate clearly
complete loan application     common to consumer loan     the purpose of the writing
                              applications
                              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 collateral   paraphrase, and critque
                               to the elements of a loan          complex structures in
                               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 clearly
agency                         an agency and how agencies         the purpose of the writing
                               can be used or beneficial to 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 clearly
                               circumstances an indirect          the purpose of the writing
                               loan may occur
                                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 clearly
credit                         and process of accepting           the purpose of the writing
                               collateral
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 determining     main ideas
                               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 clearly
                               encumbrances                       the purpose of the writing
6.6 Define perfection of a     6.6.1 Compare/contrast             6.6.1 Identify
security interest              perfection of a security           interrelationships between
                               interest by filing, possessions,   and among ideas and
                               and automatic perfection           concepts 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 clearly
perfection                     automatic perfection           the purpose of the writing
                               6.7.2 Discuss risks to the
                               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 procedure 6.9.1 Discuss the lender's            6.9.1 Communicate clearly
of terminating a financing  responsibility in filing a            the purpose of the writing
statement                   termination statement
                                                             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 clearly
                               and purpose of a promissory the purpose of the writing
                               note
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 clearly
agreement                      a security agreement         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 clearly
clause and collection costs      acceleration clause may be           the purpose of the writing
                                 invoked
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 Communicate
mortgage                      a junior lien/second mortgage clearly the purpose of the
                              7.8.2 Discuss the difference writing
                              between first and junior
                              mortgage instruments

7.9 Explain the right of    7.9.1 Describe the conditions 7.9.1 Identify the main
rescission                  of the right of                ideas 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 set
notes                            forth in a promissory note
8.2 Name the three most          8.2.1 Discuss the                 8.2.1 Communicate clearly
commonly used payment            responsibility of the bank to     the purpose of the writing
systems available to             process and apply loan
borrowers                        payments
8.3 Identify reasons to use      8.3.1 Explain the four types      5.2.1 Communicate clearly
different processing types       of payment processing             the purpose of the writing
                                 systems used by banks
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 between
consumer loans                   that consumer loans have          and among ideas and
                                 different levels of risk for      concepts within a text
                                 lenders
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 his/her     require textual support
policy                        institution's collection policy,
                              including examples of
                              collection documents
9.4 Determine the provisions 9.4.1 Research the Fair Debt        9.4.1 Use technology to
of the Fair Debt Collection   Collection Practices Act using     research or locate
Practices Act                 the Internet, and prepare a        information
                              summary
9.5 Identify the steps and    9.5.1 Discuss the                  9.5.1 Communicate clearly
purposes of preliminary       background information one         the purpose of the writing
collection procedures         would need to begin the
                              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 between
                              the circumstances under            and among ideas and
                              which forbearance or wage          concepts within a text
                              garnishment would be best
9.8 Identify the two means of 9.8.1 Review Revised Article
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 financial standing
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 of
bankruptcy law                occurrence of consumer             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 or counselor as a guest speaker       require textual support
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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Description: Promissory Notes Examples document sample