|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What causes people to believe that "growth is good" and "more is better?"
(a) Personal responsibility.
(b) Emotional and psychological perspective of money.
(c) Intrinsic value of money.
(d) Fear of inflation, recession, and depression.
2. What might cause readers to feel guilty, after completing Step 1?
(a) Seeing how much they owe or how little they have earned.
(b) Seeing their credit score.
(c) Feeling less successful than their work colleagues.
(d) Spending too much time with family.
3. Which perspective is the notion of "keeping up with the neighbors" part of?
(a) Step 2.
(b) Emotional and psychological.
(d) Personal responsibility and transformation.
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) Life energy.
(b) Whatever they choose.
(c) Managing money.
(d) Keeping up with the neighbors.
5. Which of the following does the emotional and psychological perspective of money include?
(a) Fear of unemployment.
(b) Using credit cards.
(c) The tendency to spend quickly or cautiously.
(d) Personal responsibility.
6. How is net worth determined?
(a) Multiply monthly income by 12.
(b) Estimated current sale price of all items currently owned, plus other assets such as cash and investments.
(c) Add together everything owned, then subtract everything owed.
(d) All items purchased during a lifetime.
7. According to many Americans, what is considered a sin?
(a) Just sitting around and enjoying life.
(b) Spending too much.
(c) Working too much.
(d) Buying low, selling high.
8. On average, what do Americans have less of than ever before?
9. What is the real amount of life energy?
(a) The real number of hours of life used to make purchases.
(b) Number of hours worked minus number of hours at leisure.
(c) The number of years remaining in an average lifetime.
(d) Total energy spent per week.
10. What makes the difference between a good life and a great life?
(a) Contributing money, energy, or time after having enough.
(b) A good job or a great job.
(c) Being poor versus being rich.
(d) Having more leisure time than work time.
11. What are comforts, as defined in Chapter 1?
(a) Employment and financial security.
(b) Pillows and mattresses.
(c) Emotional support.
(d) Things people really enjoy.
12. What items are included in everything owned?
(a) All items in the garage and basement.
(b) Add together everything owned, then subtract everything owed.
(c) All items purchased during a lifetime.
(d) Estimated current sale price of all items currently owned, plus other assets such as cash and investments.
13. Question 1 is answered with a plus sign under what circumstance?
(a) If the purchase was work-related.
(b) If income is greater than expenses for the month.
(c) If the expenditure was a necessity.
(d) If the expenditure was worth the life energy spent.
14. Why are vacations considered to be a work expense?
(a) Only employed individuals can afford vacations.
(b) They are necessary to relieve work-related stress.
(c) Most employees take laptops or cell phones on vacation.
(d) They are required by law.
15. People should spend only until they are fulfilled, just as they should do what?
(a) Drink in moderation.
(b) Work only until they feel fulfilled.
(c) Eat only until they are full.
(d) Gamble within a preset limit.
Short Answer Questions
1. What is a possible advantage of switching to a lower-paying job?
2. What are "gazingus pins?"
3. What is the intrinsic value of money?
4. What are dreams good clues to?
5. What is an important aspect of the second half of Step 2?
This section contains 638 words
(approx. 3 pages at 300 words per page)