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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 5.

Multiple Choice Questions

1. What should the amount started with at the beginning of the month, plus total income, minus total expenses equal?
(a) The amount of money they have left at the end of the month.
(b) The amount shown on a bank statement.
(c) Net worth.
(d) Gross income.

2. People should have enough savings to cover expenses for how long?
(a) Four months.
(b) Nine months.
(c) One year.
(d) Six months.

3. Why are vacations considered to be a work expense?
(a) Only employed individuals can afford vacations.
(b) Most employees take laptops or cell phones on vacation.
(c) They are required by law.
(d) They are necessary to relieve work-related stress.

4. What is the best method of choosing which expenses to reduce or eliminate?
(a) Compare income to expenses on the wall chart.
(b) Use answers to the three questions from Chapter 3.
(c) Add up the plusses and minuses on the monthly chart.
(d) Use answers to the three questions from Chapter 4.

5. What two addictions are compared in Chapter 3?
(a) Overeating and overspending.
(b) Gambling and shopping.
(c) Alcoholism and smoking.
(d) Overspending and gambling.

Short Answer Questions

1. Some people reach the top of their profession and make good money, yet are still not what?

2. What can help people determine what they value?

3. A line should be drawn connecting the current month's income to what?

4. What do advertisements teach Americans?

5. What is the intrinsic value of money?

(see the answer key)

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