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National College Credit Recommendation Service

Board of Regents  |  University of the State of New York

LOMA | Evaluated Learning Experience

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Financial Services Environment (LOMA 351)

Formerly Financial Services Environment (FLMI 351); Economics and Investments (FLMI 350)
Location: 

Independent study and proficiency examination program administered from the central offices of LOMA.

Length: 

Version 1 and 2: Varies-independent study. 

Dates: 

Version 1: September 1998 - June 2004. *Version 2: July 2004 - June 2011. 

Instructional delivery format: 
Proficiency exam
Learner Outcomes: 

Version 1: Upon successful completion of the course, students will be able to: apply basic microeconomic and macroeconomic concepts to understanding consumer behavior and financial services operations; interpret graphs illustrating demand and supply; distinguish among the major types of money market and capital market instruments used by individuals and businesses; describe the origin, behavior, and structure of interest rates; describe the major types of financial institutions, including the products they offer and typical assets and liabilities of each; comprehend the problem of asymmetric information and describe its impact on the financial services environment; discuss steps that financial institutions can take to manage the risks they face; describe how financial institutions create money and how central banks control the supply of money in an economy. Version 2: Students will be able to: explain basic microeconomic and macroeconomic concepts; interpret graphs illustrating demand and supply; distinguish among the major types of money market and capital market instruments used by individuals and businesses; describe the origin, structure, and behavior of interest rates; describe the major types of financial institutions, including the products they offer and typical assets and liabilities of each; discuss steps that financial institutions can take to manage the risks they face; describe how financial institutions create money and how central banks control the supply of money in an economy.

Instruction: 

Version 1: Major topics include: economic constraints and production possibilities; market characteristics, structures and institutions; supply, demand and equilibrium; maximizing profit; understanding interest rates; theory of portfolio choice; theory of efficient capital markets; financial innovation; the foreign exchange market; money, capital and mortgage markets; theory of financial structure; commercial banks; savings and loans and credit unions; banking regulation; insurance companies and pension funds; finance companies and financial conglomerates; securities markets and firms; risk management in financial institutions; financial derivatives; introduction to the money supply process; central banks and the conduct of monetary policy. Version 2: This course provides a foundation in economic principles and an understanding of the financial services environment. Topics include: overview of the financial system; money as a financial instrument; financial markets, instruments and market makers; the Federal Reserve System; interest rates and bond prices; the structure of interest rates; market efficiency; the money market; the corporate and government bond markets; the stock market; the mortgage market; financial intermediaries and risk; commercial banking structure, regulation and performance; insurance companies; pension plans and finance companies; securities firms, mutual funds, and financial conglomerates; asset-backed securities, interest-rate agreements, and currency swaps; monetary policy and the financial system.

Credit recommendation: 

Version 1 and 2: In the upper division baccalaureate degree category, 3 semester hours in Finance (12/99) (12/04 revalidation). *NOTE: Earlier versions of this course, dating from January 1965 to August 1998, have been recommended for credit. Please refer to Economics and Investments (FLMI 350) under FLMI Courses with Inactive Credit Recommendations for further information. NOTE: This course is also listed under the FLMI Insurance Education Program.

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