|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 4.
Multiple Choice Questions
1. What items are included in everything owned?
(a) All items purchased during a lifetime.
(b) Estimated current sale price of all items currently owned, plus other assets such as cash and investments.
(c) All items in the garage and basement.
(d) Add together everything owned, then subtract everything owed.
2. On average, what do Americans have less of than ever before?
3. Why should people not budget their money?
(a) Budgeting increases spending.
(b) Budgeting takes time away from family activities.
(c) Budgeters feel as if they are giving up something they love.
(d) Budgeters are inclined to mathematical error.
4. What attitude do the authors want readers to carry?
(a) No harm, no foul.
(b) No guts, no glory.
(c) No shame, no blame.
(d) No pain, no gain.
5. Why should people ask themselves how they can help others to avoid pain they have experienced?
(a) To determine their real purpose in life.
(b) To find a new career option.
(c) To take their minds off their financial issues.
(d) To reduce stress.
Short Answer Questions
1. What do advertisements teach Americans?
2. What two addictions are compared in Chapter 3?
3. What is the key to good spending habits?
4. What is the purpose of dividing income and expenses into categories?
5. How is net worth determined?
This section contains 304 words
(approx. 2 pages at 300 words per page)