|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What determines mastery of Step 3?
(a) When income exceeds spending.
(b) When gross income has been determined.
(c) When the actual money left at the end of the month equals the amount shown by recordkeeping.
(d) When life energy equals net worth.
2. What does the physical perspective of money include?
(a) Using PIN numbers.
(b) Balancing a checkbook.
(d) Personal responsibility and transformation.
3. 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.
4. What items are included in everything owned?
(a) Estimated current sale price of all items currently owned, plus other assets such as cash and investments.
(b) All items purchased during a lifetime.
(c) Add together everything owned, then subtract everything owed.
(d) All items in the garage and basement.
5. What is the final part of Step 3?
(a) Figuring out how much life energy went into each expenditure.
(b) Determining net worth.
(c) Figuring out how much life energy remains.
(d) Choosing expenses to eliminate.
6. In Question 2, what must participants ask if each expenditure is in alignment with?
(a) Hours spent at work.
(b) Their values and life purpose.
(c) Family needs.
(d) Statistical norms.
7. What is Step 1, Part 2 of the program?
(a) Declutter the garage and basement.
(b) Determine net worth.
(c) List everything owned.
(d) Determine how much money has been earned so far in a lifetime.
8. Why are small, specific categories recommended over traditional, broad categories?
(a) Smaller categories allow people to determine which purchases bring only temporary happiness.
(b) Broad categories work only for high-income individuals.
(c) Specific categories are easier to place on a chart.
(d) Broad categories cost more life energy.
9. Most Americans divide their discretionary time equally between what two activities?
(a) Leisure and retirement.
(b) Working and spending.
(c) Eating and drinking.
(d) Family and friends.
10. What does the amount spent divided by real hourly wage equal?
(a) The real amount of life energy spent.
(b) Total allowable expenses.
(c) Money saved at the end of the month.
(d) Net worth.
11. What is an important aspect of the second half of Step 2?
(a) Saving as much money as possible.
(b) Saving life energy.
(c) Tracking net worth.
(d) Not feeling shame or blame.
12. What do most people claim to value more than money?
(a) Their talents.
(b) Their jobs.
(c) Their lives.
(d) Their health.
13. The charts shown in the book for single people and couples are meant to be used how?
(a) As strict guides.
(b) As tax records.
(c) As inspiration.
(d) As a family budget.
14. 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.
(c) Emotional and psychological.
15. Where do values come from?
(a) Saving money.
(c) Bargain hunting.
(d) Working harder.
Short Answer Questions
1. Why should clothing be broken down into smaller categories, such as informal, work, sports, etc.?
2. What should participants do if the answer to Question 2 is "no" for a particular item?
3. What are dreams good clues to?
4. Under which category does money paid to employ servants and service workers fall?
5. Why are vacations considered to be a work expense?
This section contains 614 words
(approx. 3 pages at 300 words per page)