Sample work Commerce Stage 5: Comparing Credit Cards

Context

Students have been learning about consumer decisions (Core 1.1 Consumer Choice) and have been investigating responsible spending and saving patterns. They have some knowledge of credit cards and the legal implications of using credit to purchase goods and services. Students understand credit, debt, payments and capacity to pay.

Outcomes

A student:
5.1 applies consumer, financial, business, legal and employment concepts and terminology in a variety of contexts
5.2 analyses the rights and responsibilities of individuals in a range of consumer, financial, business, legal and employment contexts
5.4 analyses key factors affecting commercial and legal decisions
5.7 researches and assesses commercial and legal information using a variety of sources

Criteria for assessing learning

(These criteria would normally be communicated to students with the activity.)

Students will be assessed on their ability to:

• select, research and compare credit cards
• justify their recommendation of the most appropriate credit card for the consumer in the scenario to use
• evaluate whether a credit card is appropriate in this situation.

Work Sample Assessment 

Shane 

Shane has demonstrated extensive knowledge and understanding of consumer and financial issues relating to the use of credit cards. The rights and responsibilities of consumers and the importance of meeting contractual obligations have been clearly analysed. The response demonstrates comprehensive research which is evident in the detailed information about the advantages and disadvantages of the selected credit cards. Shane has used clear and effective reasoning in recommending a credit card for the client in the scenario and justifying the choice. The response displays highly developed planning and communication skills, using both report and table formats effectively. This work sample demonstrates characteristics of work typically produced by a student performing at grade A standard.

Huong

Huong has demonstrated extensive knowledge and understanding of consumer and financial issues relating to the use of credit cards. A clear analysis of the advantages and disadvantages of each of the selected cards has been provided and the recommendation of a particular credit card has been effectively justified. Huong’s depth of understanding is evident in the questioning of the appropriateness of the use of a credit card to fund the holiday, and the consideration of a bank loan as an alternative. The response demonstrates a high level of competence in research and written communication skills. This work sample demonstrates characteristics of work typically produced by a student performing at grade A standard.

Bobby 

Bobby has demonstrated extensive knowledge and understanding of consumer and financial issues relating to the use of credit cards. The distinguishing features of the selected cards have been researched and described in detail. An effective comparison of the advantages and disadvantages of each credit card has been made, and outstanding decision-making skills have been demonstrated in the recommendation of a credit card for the client in the scenario, and in the sophisticated evaluation of its use to pay for a holiday. The response demonstrates a very high level of competence in research and communication. This work sample demonstrates characteristics of work typically produced by a student performing at grade A standard.

Jerry 

Jerry has demonstrated thorough knowledge and understanding of consumer and financial issues relating to the use of credit cards. The distinguishing features of the selected cards have been described and an effective comparison of the advantages and disadvantages has been made. Jerry has demonstrated well-developed decision-making skills in the recommendation of a credit card for the client in the scenario, but the evaluation does not mention budgeting and debt issues. The response demonstrates a high level of competence in researching, planning, organisation and communication. This work sample demonstrates characteristics of work typically produced by a student performing at grade B standard.

Drew 

Drew has demonstrated sound knowledge and understanding of consumer and financial issues relating to the use of credit cards. The features of the selected credit cards have been identified, but additional detail on the advantages and disadvantages of each would strengthen the response. A sound recommendation has been made as to the most suitable credit card for the client in the scenario to use, and the recommendation has been clearly justified. This work sample demonstrates characteristics of work typically produced by a student performing at grade C standard.

Casey 

Casey has demonstrated basic knowledge and understanding of consumer and financial issues relating to the use of credit cards. Some research has been undertaken, but the interpretation is limited. The features of the cards have been presented in table form. Advantages and disadvantages of each card have been outlined but some important information has been omitted and there is some misunderstanding. The recommendation and justification of the credit card for the client in the scenario demonstrate some decision-making and problem-solving skills but the justification and evaluation are limited, and no consideration has been given to alternative ways of financing the holiday. This work sample demonstrates characteristics of work typically produced by a student performing at grade D standard.