In this paper we present a summary of results obtained for scalar field theories using the Feynman-Schwinger (FSR) approach. Specifically, scalar QED and chi^2phi theories are considered. The motivation behind the applications discussed in this paper is to use the FSR method as a rigorous tool for testing the quality of commonly used approximations in field theory. Exact calculations in a quenched theory are presented for one-, two-, and three-body bound states. Results obtained indicate that some of the commonly used approximations, such as Bethe-Salpeter ladder summation for bound states and the rainbow summation for one body problems, produce significantly different results from those obtained from the FSR approach. We find that more accurate results can be obtained using other, simpler, approximation schemes.