|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What is one sure way to save money?
(a) Retire early.
(b) Find a higher-paying job.
(c) Stop trying to impress other people.
(d) Find alternative housing.
2. What do the authors describe as "having a high joy-to-stuff ratio?"
(a) Life energy.
(d) Being frugal.
3. Most of the 101 SURE WAYS TO SAVE MONEY have what added benefit?
(a) They delay retirement.
(b) They improve career options.
(c) They are good for the planet.
(d) They increase hourly wage.
4. What is the recommended size of the wall chart?
(a) From 18 to 22 inches wide, and from 24 to 36 inches tall.
(b) From 18 to 24 inches tall, and from 22 to 36 inches wide.
(c) From 18 to 24 inches wide, and from 22 to 36 inches tall.
(d) From 18 to 22 inches tall, and from 24 to 36 inches wide.
5. What is the crossover point?
(a) When the amount of investment income is as high as normal monthly expenses.
(b) When the amount of total income is lower than normal monthly expenses.
(c) When the amount of investment income is lower than normal monthly expenses.
(d) When the amount of total income is as high as normal monthly expenses.
6. The wall chart's time span is a rough deadline for what?
(a) Finding a new career.
(b) Achieving financial independence.
(c) Finding a life purpose.
7. What is the best method of choosing which expenses to reduce or eliminate?
(a) Use answers to the three questions from Chapter 4.
(b) Compare income to expenses on the wall chart.
(c) Add up the plusses and minuses on the monthly chart.
(d) Use answers to the three questions from Chapter 3.
8. The top number on the y-axis should be at least how large?
(a) Equal to the participant's expected income.
(b) Twice as large as the participant's expected expenses.
(c) Twice as large as the participant's expected income.
(d) Three times as large as the participant's expected income.
9. What should people do with their extra money, once they earn more per month than they spend?
(b) Turn it into an interest-bearing investment.
(c) Purchase a long-desired luxury.
(d) Work fewer hours per week.
10. How does eating a proper diet make sense financially?
(a) Eating less saves money.
(b) Eating good foods can prevent illnesses and reduce medical costs.
(c) Eating three meals a day saves money.
(d) Losing weight means no money spent on gym memberships.
11. Paying attention to every thought and deciding whether to act on each thought is crucial to what?
(b) 1,000,001 SURE WAYS TO SAVE MONEY.
(c) Life energy.
(d) 1,001 SURE WAYS TO SAVE MONEY.
12. How many credit cards should program participants keep?
(a) One for business use, one for personal use, and one for emergencies.
(b) One for everyday use and one for emergencies.
(c) One, to be used only in emergencies.
13. If people invest more money each month, what happens to the monthly interest?
(a) The interest becomes tax-deductible.
(b) The interest must be withdrawn from the account.
(c) The interest increases each month.
(d) The interest decreases each month.
14. Participants will end up making more money than they spend if they do what?
(a) Retire early.
(b) Conserve life energy.
(c) Maximize income and minimize expenses.
(d) Follow the philosophy of "no shame, no blame."
15. What should people do about unusual extra expenses, such as medical bills or birthday parties?
(a) Categorize them as "gazingus pins."
(b) Accept them as a normal part of financial life.
(c) Create an extra chart to track them.
(d) Avoid them whenever possible.
Short Answer Questions
1. What is a major advantage of separating employment from passion?
2. A line should be drawn connecting the current month's income to what?
3. What should be repeatedly placed along the x-axis of the wall chart?
4. What encourages family, friends, and neighbors to support the participant's goals in following this program?
5. What do the authors warn job-hunters to avoid?
This section contains 715 words
(approx. 3 pages at 300 words per page)