Code: 4.1.1 · Children and youth
Overview of financial products, services and providers
Descriptors
Knowledge
What you can do at this level
- Kage:11-15
Aware that most financial service providers are regulated
- Kage:11-15
Understands that some financial products and services may not be regulated/supervised or may be offered illegally
- Kage:11-15
Knows the benefits of comparing financial products and services from different providers
- Kage:16-18becoming-an-adult
Knows that some financial service providers have an obligation to provide certain types of services, such as basic bank accounts, and is motivated to use such services if needed
- Kage:16-18becoming-an-adult
Aware that funds deposited on a bank account up to 100,000 EUR per person and per bank are protected under the deposit guarantee scheme in the EU
Skill
What you can do at this level
- Sage:6-10
Can distinguish the main products/services offered by financial institutions (e.g. bank accounts, loans, insurance products, etc.)
- Sage:11-15
Can distinguish the main types of financial institutions (e.g. banks, insurance companies, etc.)
- Sage:16-18
Can describe the roles and functions of the main types of financial institutions
- Sage:16-18digital
Distinguishes if a financial service provider, whether operating physically or digitally, is regulated by national competent authorities or not
Attitude
What you can do at this level
- Aage:16-18digital
Confident to shop around for financial products, including by using reliable (online) comparison tools, where available
- Learning outcome types
- K — What you need to know: theoretical understanding and factual information.
- S — What you can do: practical and technical abilities.
- A — How you approach things: values, dispositions and behaviours.