|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What is the second half of Step 2?
(a) Keeping meticulous track of every cent that comes in or goes out.
(b) Selling unnecessary luxuries.
(c) Looking for a better job.
(d) Saving as much money as possible.
2. What is the intrinsic value of money?
(a) Emotional and psychological.
(b) Money has no intrinsic value.
(d) Real hourly wage.
3. What should be included in the "miscellaneous" category?
(a) Items under $10.
(b) Items purchased less than once a month.
(d) Gazingus pins.
4. What broad category are alcohol and tobacco subcategories of?
(a) Occasional expenses.
(b) Recreational expenses.
(c) Acceptable expenses.
(d) Forbidden expenses.
5. What does Question 2 help people to figure out?
(a) How well they are doing at moving toward their purpose.
(b) How will expenses change after retirement?
(c) Life energy spent.
(d) Whether income exceeds expenses.
6. What does the physical perspective of money include?
(a) Balancing a checkbook.
(c) Using PIN numbers.
(d) Personal responsibility and transformation.
7. What three columns should record-keeping include?
(a) Gross income, life energy spent, and expenses to eliminate.
(b) Income, expenditures, and hours of life energy spent.
(c) Necessities, luxuries, and expenses to eliminate.
(d) Salary, gifts, and prizes.
8. What allows people to enjoy their planet, community, and spirituality more than ever before?
(a) Taking more vacations.
(b) Living frugally.
(c) Being green.
9. What is one of the main economic principles most businesses follow?
(a) Technology is good.
(b) Going green is good.
(c) Debt is good.
(d) Growth is good.
10. What is a possible advantage of switching to a lower-paying job?
(a) Less life energy spent equals a longer lifespan.
(b) Less money available to spend.
(c) More time available for continuing education.
(d) Ultimately earning more for each hour of life energy spent.
11. 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 take their minds off their financial issues.
(c) To reduce stress.
(d) To find a new career option.
12. Earning, saving, and spending money are part of which perspective?
(a) Life energy.
(b) Emotional and psychological.
13. Each person has only a limited amount of what?
(a) Emotional energy.
(b) Intrinsic value.
(d) Life energy.
14. On average, what do Americans have less of than ever before?
15. Why should people not budget their money?
(a) Budgeting takes time away from family activities.
(b) Budgeting increases spending.
(c) Budgeters are inclined to mathematical error.
(d) Budgeters feel as if they are giving up something they love.
Short Answer Questions
1. What is the purpose of dividing income and expenses into categories?
2. In Question 2, what must participants ask if each expenditure is in alignment with?
3. Which perspective of money should readers embrace?
4. What have many people been told by parents and guidance counselors?
5. How often should people total their income and expenses?
This section contains 528 words
(approx. 2 pages at 300 words per page)