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

Joe Dominguez
This set of Lesson Plans consists of approximately 131 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. What is the first half of Step 2?
(a) Not feeling shame or blame.
(b) Determine real hours worked.
(c) Determine real hourly wage.
(d) Determine net worth.

2. Which of the following does the emotional and psychological perspective of money include?
(a) Using credit cards.
(b) The tendency to spend quickly or cautiously.
(c) Personal responsibility.
(d) Fear of unemployment.

3. What do advertisements teach Americans?
(a) Consume, consume, and comsume some more.
(b) Relax, relax, and relax some more.
(c) Buy low, sell high.
(d) Work, work, and work some more.

4. People strive to buy and earn more than they need to live at the peak of their fulfillment curve due to which perspective of money?
(a) Intrinsic value.
(b) Emotional and psychological.
(c) Greed.
(d) Cultural.

5. Which perspective of money should readers embrace?
(a) Life energy.
(b) Hedges against inflation.
(c) Personal responsibility and transformation.
(d) A personal perspective.

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

7. The charts shown in the book for single people and couples are meant to be used how?
(a) As inspiration.
(b) As tax records.
(c) As a family budget.
(d) As strict guides.

8. What causes emptiness?
(a) Losing a job.
(b) After buying a new item, the temporary happiness fades.
(c) Spending too much time on leisure activities.
(d) After spending time with family, the temporary happiness fades.

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) Keeping up with the neighbors.
(b) Managing money.
(c) Whatever they choose.
(d) Life energy.

10. What is the purpose of dividing income and expenses into categories?
(a) To determine if enough money will be available for retirement.
(b) To judge whether expenses are worth the life energy spent.
(c) To decide if a career change is warranted.
(d) To determine net worth.

11. Earning, saving, and spending money are part of which perspective?
(a) Physical.
(b) Emotional and psychological.
(c) Life energy.
(d) Inflation.

12. What does Question 2 help people to figure out?
(a) How will expenses change after retirement?
(b) Whether income exceeds expenses.
(c) Life energy spent.
(d) How well they are doing at moving toward their purpose.

13. Why should readers not use premade categories from other budget books?
(a) Some categories are difficult to track.
(b) Other budget books are inferior.
(c) Everyone has different spending habits.
(d) Some categories may be out of date.

14. What can help people determine what they value?
(a) What items they possess.
(b) Assessing their careers.
(c) Studying family history.
(d) Asking how they would spend their time if they had one year to live.

15. Which perspective is the notion of "keeping up with the neighbors" part of?
(a) Step 2.
(b) Emotional and psychological.
(c) Personal responsibility and transformation.
(d) Inflation.

Short Answer Questions

1. What is budgeting similar to?

2. What is Step 1, Part 2 of the program?

3. What broad category are alcohol and tobacco subcategories of?

4. What three columns should record-keeping include?

5. Where do most products we purchase end up?

(see the answer keys)

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