Your Money or Your Life Test | Mid-Book Test - Easy

Joe Dominguez
This set of Lesson Plans consists of approximately 124 pages of tests, essay questions, lessons, and other teaching materials.
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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. For Question 1, what should be written in the chart if just enough was spent on an item?
(a) A check.
(b) A zero.
(c) A minus.
(d) A plus.

2. What is the first half of Step 2?
(a) Determine net worth.
(b) Not feeling shame or blame.
(c) Determine real hours worked.
(d) Determine real hourly wage.

3. What are piggy banks and cookie jars examples of?
(a) Savings categories.
(b) Places where a person should never keep money.
(c) Items too fragile to hold anything but paper money.
(d) Symbols to place next to money-saving items in a monthly chart.

4. What causes emptiness?
(a) Losing a job.
(b) After buying a new item, the temporary happiness fades.
(c) After spending time with family, the temporary happiness fades.
(d) Spending too much time on leisure activities.

5. What is the intrinsic value of money?
(a) Emotional and psychological.
(b) Physical.
(c) Real hourly wage.
(d) Money has no intrinsic value.

6. What should the amount started with at the beginning of the month, plus total income, minus total expenses equal?
(a) The amount shown on a bank statement.
(b) The amount of money they have left at the end of the month.
(c) Net worth.
(d) Gross income.

7. What is the second half of Step 2?
(a) Selling unnecessary luxuries.
(b) Saving as much money as possible.
(c) Looking for a better job.
(d) Keeping meticulous track of every cent that comes in or goes out.

8. Why are vacations considered to be a work expense?
(a) Most employees take laptops or cell phones on vacation.
(b) They are required by law.
(c) Only employed individuals can afford vacations.
(d) They are necessary to relieve work-related stress.

9. Why do people buy more than they need?
(a) Survival instinct.
(b) To fight inflation.
(c) Greed.
(d) To donate to charity.

10. What is the real amount of life energy?
(a) The real number of hours of life used to make purchases.
(b) Total energy spent per week.
(c) Number of hours worked minus number of hours at leisure.
(d) The number of years remaining in an average lifetime.

11. Where do values come from?
(a) Saving money.
(b) Working harder.
(c) Bargain hunting.
(d) Beliefs.

12. What do most people claim to value more than money?
(a) Their jobs.
(b) Their lives.
(c) Their health.
(d) Their talents.

13. How is net worth determined?
(a) All items purchased during a lifetime.
(b) Multiply monthly income by 12.
(c) Add together everything owned, then subtract everything owed.
(d) Estimated current sale price of all items currently owned, plus other assets such as cash and investments.

14. Why do many people give up on their dreams?
(a) Dreams may not be practical and often do not fit in with reality.
(b) People dream when they sleep too many hours per night.
(c) They believe dreams have no meaning.
(d) They believe dreams use life energy.

15. What must a person do to become financially independent?
(a) Save as much as possible.
(b) Let go of everything they have learned about money.
(c) Inherit from rich relatives.
(d) Work harder.

Short Answer Questions

1. What does the physical perspective of money include?

2. For Question 3 under what circumstance would one enter a minus sign on the chart?

3. Which perspective of money should readers embrace?

4. What are bare necessities, as defined in Chapter 1?

5. How many perspectives of money are there?

(see the answer keys)

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