Fcs 340 Study guides, Class notes & Summaries

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...

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...

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 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 fund...

FCS 340 Exam 3 Questions with Correct Answers Updated Latest 20242025 1. Traditional financial guidelines suggest that your home should cost about times your annual income ANS 20-30% 2. List advantages and disadvantages of renting ANS Advantages Easy to move, financial benefits, lifestyle flexibility Disadvantages No tax benefit, limitations on remodeling, restrictions on pets 3. The opportunity to have another person take over rent payments and live in the rental unit is called . ANS...

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 which the stewa...

FCS 340 Exam 3 Questions and Verified Answers (2024 / 2025)/ A+ GRADE 1. traditional financial guidelines suggest that your home cost about times your annual income ANS 2 1/2 or (25 or 30 percent of your take-home pay) 2. list advantages of renting ANS easy to move; fewer responsibilities for maintenance; minimal financial commitment 3. list disadvantages of renting ANS no tax benefits; limitations regarding remodeling; restrictions regarding pets and other activities 4. The opportunity ...

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 companyb. An investment companyc. A life insuran...

Which of the following is not identified as a purpose of the book? - correct 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? - correct 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 which the stewardship perspective is based?" Which i...