Fcs 340 Study guides, Class notes & Summaries

Higher consumer prices are likely to be accompanied by _______ interest rate. - higher What is the definition of economics? - Study of how wealth is created and distributed What is the Fed? - Federal Reserves What is the main responsibility of the Fed? - Regulate national money supply The "obtaining" component of financial planning is defined - Foundation of financial planning, resources used for all financial activities What is liquidity refer to? - Be able to take financial resources a...

FCS 340 Test 1 Questions and Verified Answers (2024 / 2025)/ A+ GRADE 1. Higher consumer prices are likely to be accompanied by interest rate. ANS higher 2. What is the definition of economics? ANS Study of how wealth is created and distributed 3. What is the Fed? ANS Federal Reserves 4. What is the main responsibility of the Fed? ANS Regulate national money supply 5. The "obtaining" component of financial planning is defined ANS Foundation of financial planning, resources used for a...

FCS 340 Exam 1 Questions with Complete Solutions Which of the following is not identified as a purpose of the book? - ANSWER Teach you to accumulate wealth. The authors suggested four answers to the question, "Why should I learn about family finance?" Which is not one of the four reasons? - ANSWER Community: Becoming a stronger citizen and member of your community. The second important question the authors suggested you ponder: "What are the profound principles upon wh...

FCS 340 Exam 3 Questions with Correct Answers Traditional financial guidelines suggest that your home should cost about __________ times your annual income - ANSWER 20-30% List advantages and disadvantages of renting - ANSWER Advantages: Easy to move, financial benefits, lifestyle flexibility Disadvantages: No tax benefit, limitations on remodeling, restrictions on pets The opportunity to have another person take over rent payments and live in the rental unit is called ________________...

FCS 340 Exam Questions with Correct Answers If you lose your debit card and notify your financial institution within two days, how much are you potentially liable for? - ANSWER $50 When you select a financial services provider, what are major factors to consider? - ANSWER -Borrow money if needed. -Min. cost of checking & payment services -Bet return on savings What type of financial services do to the following provide? a. A credit card company- b. An investm...

FCS 340 Final Test Questions with Complete Solutions What is a closed-end mutual fund? What is an open-end mutual fund? - ANSWER Closed- shares issued by an investment company only when fund is organized Open- shares issued and redeemed by the investment company at the request of investors What is the net asset value? When is the net asset value calculates? - ANSWER value of a mutual fund / at the end of every day What is a load fund? What is a no-load fund? - ANSWER Load- a mutual fu...

Risk - correct answer uncertainty about the outcome of a situation or event. Risk Management - correct answer process of identifying and evaluating purely risky situations to determine and implement appropriate management. Perils - correct answer any event that can cause a financial loss. property insurance - correct answer protection from financial losses resulting from the damage to or destruction of your property or possessions. liability insurance - correct answer protection from...

FCS 340 Test 1 Questions with Correct Answers Higher consumer prices are likely to be accompanied by _______ interest rate. - ANSWER higher What is the definition of economics? - ANSWER Study of how wealth is created and distributed What is the Fed? - ANSWER Federal Reserves What is the main responsibility of the Fed? - ANSWER Regulate national money supply The "obtaining" component of financial planning is defined - ANSWER Founda...