California Future Business Leaders of America

Your Future Is Our Business

BANKING & FINANCIAL SYSTEMS

  • Category: Collaborative Objective Event & Team Presentation (Role Play)

    Type: Individual or Team (State and National Competition)

    ELIGIBILITY: No more than one (1) team member may have competed in this event at a prior NLC or have competed more than two (2) years at the national level. A participant may compete as an individual their first year. However, if competing a second year, the participant must be part of a team.

    STATE: Each local chapter may submit one entrant as an individual, or a team of two (2) or three (3) members. The top five (5) or eight (8) teams with the highest objective test score at SLC will compete in the role play presentation portion of the event. (Number of finalists will be decided by December 31.
    NATIONAL: The top four (4) places in state competition will represent California at the National Leadership Conference. NOTE: Some SLC top-10 teams will become eligible for the national conference as a result of drops. Make sure you get early approval from your parents to attend the National Conference so you will be in a position to say "yes" to your adviser if your team is "bumped up".

    OVERVIEW: 

    Two (2) parts: an objective test and interactive role play presentation. A 60-minute objective test will be administered onsite at the Section, State and National Conference. Team competitors will take one (1) objective test collaboratively. The role play part of this event consists of an open exchange between the competitor(s) and the judges throughout the presentation. Finalists will be given a case study and will have 20 minutes to prepare for the role play presentation.

    Objective Test Competencies: Concepts and Practices; Basic Terminology; Government Regulation of Financial Services; Impact of Technology on Financial Services; Types and Differences of Various Institutions; Ethics; Careers in Financial Services; Taxation (See more detail below)

    Case: Finalists will receive a problem or scenario encountered in the banking or financial business community and will have twenty (20) minutes to prepare a role play presentation.

    Skills: Understanding how financial institutions operate is important to successful business ownership and management. It also is valuable for personal financial success. This event provides recognition for FBLA members who have an understanding of and skills in the general operations of various components of the financial services sector.

    Tips for Events Involving a Case Study or an Interactive/Role Play

    • Students will be given a case study and/or role play scenario for review prior to the performance.
    • Participants will be given note cards to write on during practice, and may use the note cards in the performance room.
    • Do your homework and look at the performance rating sheet for your event. The judges will be using the rating sheet to score each individual or team.
    • In an interactive/role-play event, the judges will interact during the presentation and still might ask questions at the end.
    • Review the Performance Indicators when reading the case study or role play scenario.
    • If competing as a team, all team members must participate in the presentation.

    FINALISTS:  The top five (5) or eight (8) individuals or teams with the highest objective test score will participate in the role play presentation of this event and consists of an open exchange between the competitor and the judges throughout the presentation. Number of finalists will be finalized by December 31.

    Timeline

    Test: 1 hour 
    Sequester: Finalists report to sequester room at the time indicated in the Conference Guide.
    Prep
    : 20 min 

    Equipment Setup: N/A 
    Performance: 7 min 
    Warning: 6 min 
    Time Up: 7 min 
    Penalty Over Time: N/A 
    Q & A: N/A 

    JUDGING: Finalists have a total of seven minutes to interact with a panel of judges and present the solution to the case. The judges will play the role of the second party in the presentation and will refer to the case for specifics. All questions raised during the case must be addressed during the presentation. The decision of the judges is final.


    Rating Sheet


    GUIDELINES
     (It is highly recommended that competitors read all guidelines)
    Sequester Guidelines
    General Presentation

    General (All Events)
    General Competitive Event Tips



    PREPARATION:

     
    Concepts and Practices
    1. Demonstrate effective techniques to gather, communicate, and manage client information.
    2. Create and/or complete documents to process information.
    3. Utilize available techniques to effectively serve customers.
    4. Use account knowledge to perform bookkeeping/accounting functions (including payroll) and execute financial transactions.
    5. Analyze financial activities and compile business transaction data to report financial information—balance sheet, income statement, cash flow statement.
    6. Understand the importance of audits and regulations.
    7. Perform Banking Operations such as opening and closing teller stations, processing loans, processing deposits and withdrawals, etc.
    8. Understand the Federal Reserve System.
    9. Understand the role of FDIC.
    10. Describe the check clearing system.
    11. Possess general knowledge of checking, savings, loans, certificates of deposit, investments, IRAs, customer services, trust services, ATMs, and credit/debit cards.
    12. Implement loan procedures from beginning to closure.
    13. Maintain records and reports to manage investments, cash, loans, and other banking procedures
    14. Handle customer inquiries and situations such as interpreting business policies.
    15. Identify consumer protection provisions of appropriate agencies.
    16. Implement safe and secure environment controls to enhance productivity and minimize loss
    17. Practice Safety and Security Procedures such as identifying valid currency, recognizing potential risk customers, and securing cash.
    Basic Terminology
    1. Explain the purposes and components of budgets.
    2. Define general accounting terms.
    3. Understand banking terms such as check register, savings account, interest, deposits, ATM, bank reconciliation, and withdrawals.
    4. Identify the advantages and disadvantages of credit and other credit-related terms such as credit ratings, credit reports, and secured and unsecured credit
    5. Define bankruptcy—types and major causes.
    6. Define mandatory and voluntary pay deductions.
    7. Define tax terms such as “exemptions,” “dependents,” and “taxable and nontaxable income.”
    8. List examples of short- and long-term financial goals.
    9. Explain the similarities and differences between leasing and buying, and renting versus purchasing.
    10. Compare the terms and rates of mortgages, leases, investments, and other financial documents such as insurance.
    11. Compare stocks, bonds, and commodities.
    12. Define investment terms such as “risk management” and “rate of return.”
    13. Identify types of retirement plans.
    14. Use insurance terminology to explain insurance risks.
    15. Compare term and whole-life insurance and annuities.
    16. Identify major characteristics of the basic types of life, health, and disability insurance.
    Government Regulation of Financial Services
    1. Interpret laws and regulations to determine the role of government in the financial industry.
    2. Interpret world events to determine the impact of international affairs on the financial industry.
    3. Research the regulatory requirements of financial and investment planning and security sales to ensure compliance with codes.
    4. Implement internal and external audit procedures to reflect compliance with regulations
    5. Research the regulatory insurance requirements to ensure compliance.
    6. Identify, apply, and keep current with laws and regulations that affect financial and accounting practices.
    7. Apply federal, state, and local laws, and rules and regulations to guide storage and retention of financial records.
    Impact of Technology on Financial Services
    1. Identify various financial management software packages.
    2. Use databases and other computer management tools to manage office records and general information.
    3. Produce documents integrating current word processing, database, and spreadsheet files.
    4. Create worksheets using spreadsheet commands, functions, and formulas.
    5. Study component operation to prevent, diagnose, and solve computer operations problems.
    6. Assist customers/clients in maintaining online services.
    Types and Differences of Various Institutions
    1. Identify the various types of financial institutions.
    2. Describe the types of services offered by each type of financial institution.
    3. Compare the differences in the various types of financial institutions.
    4. Describe the role of government in the various types of financial institutions.
    5. Identify the various sources and procedures for institutions that offer credit.
    Ethics
    1. Identify ethical character traits (honesty, integrity, compassion, respect, responsibility, citizenship, justice) and practice professional conduct and good ethical behavior.
    2. Determine ethics and social responsibilities and analyze the effects of unethical practices on business and on consumers.
    3. Maintain confidentiality and sensitivity of company information.
    4. Exhibit nondiscriminatory behavior.
    5. Define common, unfair, and captive practices such as bait and switch, identify theft, and fraudulent misrepresentations.
    Careers in Financial Services
    1. Determine roles and functions of individuals to perform professional financial service careers.
    2. Identify traditional and nontraditional finance-related careers including requirements, salary range, and working conditions
    3. Develop employability skills and meet position requirements to obtain a career in finance.
    4. Plan appropriate education activities to achieve licensing and certification requirements.
    5. Utilize resources that contribute to professional development (trade journals/periodicals, professional trade organizations, industry sponsored training opportunities, etc.) in financial careers.
    Taxation
    1. Reference the latest tax code to guide tax return preparation and actions.
    2. Use tax preparation procedures to determine tax liability and apply tax code professionally and complete basic tax reporting forms.
    3. Review income, deductions, and credits to determine current financial position.
    4. Examine state and federal laws to identify tax credits.
    5. Analyze tax structures and consequences to assist in business decision making.

    Alignment

    NBEA Standards
    • Accounting
    • Career Development
    • Computation
    • Economics & Personal Finance
    • Management
    Career Clusters
    • Business Management & Administration
    • Finance
    • Government & Public Administration
    • Human Services
     
     
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