Mid-Book Test - Easy
|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What is an important aspect of the second half of Step 2?
(a) Not feeling shame or blame.
(b) Saving life energy.
(c) Saving as much money as possible.
(d) Tracking net worth.
2. What determines mastery of Step 3?
(a) When the actual money left at the end of the month equals the amount shown by recordkeeping.
(b) When life energy equals net worth.
(c) When income exceeds spending.
(d) When gross income has been determined.
3. What can help people determine what they value?
(a) What items they possess.
(b) Studying family history.
(c) Asking how they would spend their time if they had one year to live.
(d) Assessing their careers.
4. According to many Americans, what is considered a sin?
(a) Spending too much.
(b) Just sitting around and enjoying life.
(c) Buying low, selling high.
(d) Working too much.
5. What do the authors suggest that people divide their spending into?
(a) Three columns.
(b) Categories determined by life energy.
(c) Categories that make sense for them.
(d) Categories defined in Chapter 3.
6. What must a person do to become financially independent?
(a) Save as much as possible.
(b) Inherit from rich relatives.
(c) Work harder.
(d) Let go of everything they have learned about money.
7. 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) Life energy.
(c) Managing money.
(d) Whatever they choose.
8. What is the key to good spending habits?
(a) Full complacency.
(b) Full consciousness.
(c) Full contentment.
(d) Full compulsion.
9. 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?
(b) Intrinsic value.
(c) Emotional and psychological.
10. Which perspective of money should readers embrace?
(a) A personal perspective.
(b) Personal responsibility and transformation.
(c) Life energy.
(d) Hedges against inflation.
11. What does the physical perspective of money include?
(a) Personal responsibility and transformation.
(c) Balancing a checkbook.
(d) Using PIN numbers.
12. Most Americans divide their discretionary time equally between what two activities?
(a) Eating and drinking.
(b) Working and spending.
(c) Family and friends.
(d) Leisure and retirement.
13. What do most people claim to value more than money?
(a) Their health.
(b) Their jobs.
(c) Their lives.
(d) Their talents.
14. What is the state of having enough to spend in order to purchase just enough?
(a) The middle of the success spectrum.
(b) The peak of the fulfillment curve.
(c) The bottom of the fulfillment curve.
(d) The peak of the success spectrum.
15. What items are included in everything owned?
(a) All items purchased during a lifetime.
(b) Add together everything owned, then subtract everything owed.
(c) All items in the garage and basement.
(d) Estimated current sale price of all items currently owned, plus other assets such as cash and investments.
Short Answer Questions
1. What are bare necessities, as defined in Chapter 1?
2. What is the final part of Step 3?
3. What does Question 1 help people figure out?
4. On average, what do Americans have more of than ever before?
5. What is Step 1, Part 1 of the program?
This section contains 564 words
(approx. 2 pages at 300 words per page)