Your Money or Your Life Test | Mid-Book Test - Easy

Joe Dominguez
This set of Lesson Plans consists of approximately 124 pages of tests, essay questions, lessons, and other teaching materials.
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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Some people reach the top of their profession and make good money, yet are still not what?
(a) Wealthy.
(b) Married.
(c) Secure.
(d) Happy.

2. For Question 1, what should be written in the chart if just enough was spent on an item?
(a) A minus.
(b) A check.
(c) A plus.
(d) A zero.

3. What are piggy banks and cookie jars examples of?
(a) Places where a person should never keep money.
(b) Savings categories.
(c) Symbols to place next to money-saving items in a monthly chart.
(d) Items too fragile to hold anything but paper money.

4. How is net worth determined?
(a) Multiply monthly income by 12.
(b) All items purchased during a lifetime.
(c) Estimated current sale price of all items currently owned, plus other assets such as cash and investments.
(d) Add together everything owned, then subtract everything owed.

5. What is Question 3?
(a) What are my dreams?
(b) In how many years will I be able to retire?
(c) How might this expenditure change if I did not have to work for a living?
(d) Is income greater than expenses for the month?

6. Why do many people give up time with family, working on hobbies, and fulfilling dreams?
(a) They fear success.
(b) They are lazy.
(c) They are insecure.
(d) They are too busy working.

7. What is Step 1, Part 1 of the program?
(a) List everything owned.
(b) Declutter the garage and basement.
(c) Determine net worth.
(d) Determine how much money has been earned so far in a lifetime.

8. How often should people total their income and expenses?
(a) Whenever a paycheck is deposited.
(b) Daily.
(c) Once a week.
(d) Once a month.

9. If people spend half of their time sleeping, eating, and doing everything necessary for maintaining their bodies, then the other half is available for what?
(a) Life energy.
(b) Whatever they choose.
(c) Keeping up with the neighbors.
(d) Managing money.

10. What are dreams good clues to?
(a) Hours slept per night.
(b) Values, purpose, and life mission.
(c) Employment options.
(d) The future.

11. Why should people not budget their money?
(a) Budgeting takes time away from family activities.
(b) Budgeters are inclined to mathematical error.
(c) Budgeters feel as if they are giving up something they love.
(d) Budgeting increases spending.

12. What do most people claim to value more than money?
(a) Their talents.
(b) Their health.
(c) Their jobs.
(d) Their lives.

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

14. Most Americans divide their discretionary time equally between what two activities?
(a) Working and spending.
(b) Leisure and retirement.
(c) Family and friends.
(d) Eating and drinking.

15. On average, what do Americans have less of than ever before?
(a) Savings.
(b) Education.
(c) Children.
(d) Debt.

Short Answer Questions

1. In Question 1, for each expense, participants must ask if they received fulfillment, satisfaction, and value in proportion to what?

2. What attitude do the authors want readers to carry?

3. Where do most products we purchase end up?

4. What should participants do if the answer to Question 2 is "no" for a particular item?

5. What are "gazingus pins?"

(see the answer keys)

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