Yes, on both counts, actually.
Most kits (and most recipes, for that matter) will give a
predicted final gravity. Since brewing isn't an exact science, this is a ballpark figure. So, you want to wait until you get a stable gravity reading before considering it done.
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However, this is why usually people check it a couple times per day until the hydrometer reading stays the same, and THATS the FG?
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Couple times a WEEK would be the max. A couple times a day would be insane. It won't change that quickly unless it's right in the height of fermentation, and then there's no reason to take a gravity reading then. I usually check mine once a week and that's it. Some folks check gravity before pitching yeast and then won't check it again for weeks. Several times a day is DEFINITELY overkill.