1) Describe the financial system and explain how it operates. 2) a. Discuss the difference between a financial asset and a tangible asset. b. Describe the two principle roles of financial assets. c. Explain the roles/functions of financial intermediaries. 3) a. Explain the three factors that have led to the globalization of financial markets. b. Describe the three reasons why a corporation may seek to raise funds outside of its domestic market (i.e. in foreign markets). 4) a. Explain the role of government/regulators in financial markets [Refer to Fabozzi Chapter 1: page 14-15]. b. Explain the concerns that regulators have regarding financial institutions [Refer to Fabozzi Chapter 2: page 27-29]. 5) a. Explain the categories of financial innovation. [Refer to Fabozzi Chapter 1: page 15-16]. b. Discuss the motivation for financial innovation. 6) Discuss the importance of studying financial institutions [Refer to Mishkin & Eakins Chapter