|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What three columns should record-keeping include?
(a) Necessities, luxuries, and expenses to eliminate.
(b) Salary, gifts, and prizes.
(c) Income, expenditures, and hours of life energy spent.
(d) Gross income, life energy spent, and expenses to eliminate.
2. What determines mastery of Step 3?
(a) When income exceeds spending.
(b) When the actual money left at the end of the month equals the amount shown by recordkeeping.
(c) When life energy equals net worth.
(d) When gross income has been determined.
3. Some people reach the top of their profession and make good money, yet are still not what?
4. Question 1 is answered with a plus sign under what circumstance?
(a) If the purchase was work-related.
(b) If the expenditure was worth the life energy spent.
(c) If the expenditure was a necessity.
(d) If income is greater than expenses for the month.
5. Where do most products we purchase end up?
(b) In landfills.
(c) Passed on to the next generation.
(d) In garage sales.
6. On average, what do Americans have more of than ever before?
7. What should participants do if the answer to Question 2 is "no" for a particular item?
(a) Find a new career path.
(b) Either change actions to align with values or change values to align with actions.
(c) Find a new life purpose.
(d) Donate the item to charity.
8. On average, what do Americans have less of than ever before?
9. What is budgeting similar to?
(a) Filing taxes.
(c) Reducing income.
10. Why are vacations considered to be a work expense?
(a) They are necessary to relieve work-related stress.
(b) Only employed individuals can afford vacations.
(c) They are required by law.
(d) Most employees take laptops or cell phones on vacation.
11. 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) Managing money.
(b) Keeping up with the neighbors.
(c) Life energy.
(d) Whatever they choose.
12. Question 3 asks participants to consider what it would be like to do what?
(b) Eliminate debt.
(c) Find a life mission.
(d) Conserve life energy.
13. What is a possible advantage of switching to a lower-paying job?
(a) Ultimately earning more for each hour of life energy spent.
(b) Less life energy spent equals a longer lifespan.
(c) More time available for continuing education.
(d) Less money available to spend.
14. What can help people determine what they value?
(a) Studying family history.
(b) What items they possess.
(c) Assessing their careers.
(d) Asking how they would spend their time if they had one year to live.
15. The charts shown in the book for single people and couples are meant to be used how?
(a) As tax records.
(b) As inspiration.
(c) As strict guides.
(d) As a family budget.
Short Answer Questions
1. Which of the following does the cultural perspective of money include?
2. Why do people buy more than they need?
3. What makes the difference between a good life and a great life?
4. What two addictions are compared in Chapter 3?
5. How many perspectives of money are there?
This section contains 546 words
(approx. 2 pages at 300 words per page)