|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What makes the difference between a good life and a great life?
(a) Contributing money, energy, or time after having enough.
(b) Being poor versus being rich.
(c) Having more leisure time than work time.
(d) A good job or a great job.
2. What might cause readers to feel guilty, after completing Step 1?
(a) Feeling less successful than their work colleagues.
(b) Spending too much time with family.
(c) Seeing their credit score.
(d) Seeing how much they owe or how little they have earned.
3. Why do many people give up time with family, working on hobbies, and fulfilling dreams?
(a) They are insecure.
(b) They are lazy.
(c) They fear success.
(d) They are too busy working.
4. 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) Whatever they choose.
(b) Managing money.
(c) Life energy.
(d) Keeping up with the neighbors.
5. What does the amount spent divided by real hourly wage equal?
(a) Total allowable expenses.
(b) Money saved at the end of the month.
(c) The real amount of life energy spent.
(d) Net worth.
6. Under which category does money paid to employ servants and service workers fall?
(a) Keeping up with the neighbors.
(c) Work-related expense.
(d) More is better.
7. On average, what do Americans have less of than ever before?
8. Which perspective of money should readers embrace?
(a) Personal responsibility and transformation.
(b) Life energy.
(c) A personal perspective.
(d) Hedges against inflation.
9. What is the real amount of life energy?
(a) The number of years remaining in an average lifetime.
(b) The real number of hours of life used to make purchases.
(c) Total energy spent per week.
(d) Number of hours worked minus number of hours at leisure.
10. What must people do in order to make Step 3 work?
(a) Be as truthful as possible.
(b) Reduce spending.
(c) Work fewer hours.
(d) Work more hours.
11. How should people reduce spending?
(a) By staying home.
(b) By putting money in the bank.
(c) By taking a lower-paying job.
(d) By increasing awareness of how much life energy it takes to pay for each expense.
12. Which of the following does the cultural perspective of money include?
(a) Life energy.
(b) Buying insurance.
(c) Fear when investing.
(d) Fear of inflation.
13. Question 3 asks participants to consider what it would be like to do what?
(a) Find a life mission.
(b) Conserve life energy.
(c) Eliminate debt.
14. The charts shown in the book for single people and couples are meant to be used how?
(a) As a family budget.
(b) As inspiration.
(c) As tax records.
(d) As strict guides.
15. For Question 3 under what circumstance would one enter a minus sign on the chart?
(a) If the expense category will most likely cease after retirement.
(b) If that expense category will most likely be reduced after retirement.
(c) If the expense category does not fit with values.
(d) If monthly expenses exceed monthly income.
Short Answer Questions
1. Why do many people give up on their dreams?
2. How often should people total their income and expenses?
3. In Question 1, for each expense, participants must ask if they received fulfillment, satisfaction, and value in proportion to what?
4. What should the amount started with at the beginning of the month, plus total income, minus total expenses equal?
5. What is the second half of Step 2?
This section contains 622 words
(approx. 3 pages at 300 words per page)