|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What is Step 8 of the program?
(a) Further reduce monthly expenses.
(c) Estimate when the crossover point will take place.
(d) Track investment income.
2. The top number on the y-axis should be at least how large?
(a) Three times as large as the participant's expected income.
(b) Equal to the participant's expected income.
(c) Twice as large as the participant's expected expenses.
(d) Twice as large as the participant's expected income.
3. What are 1,001 SURE WAYS TO SAVE MONEY?
(a) A list of strategies to achieve early retirement.
(b) Participants should look at their own expense lists and make their own list of ways to save.
(c) A list of contacts for business networking.
(d) A list of coupon resources.
4. What is Step 7?
(a) Minimizing debt.
(b) Reducing clutter.
(c) Maximizing income.
(d) Increasing life energy.
5. 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 22 inches tall, and from 24 to 36 inches wide.
(c) From 18 to 24 inches tall, and from 22 to 36 inches wide.
(d) From 18 to 24 inches wide, and from 22 to 36 inches tall.
6. What can cause some people to stop buying any extras at all, after starting to use the wall chart?
(a) Shock at their spending habits.
(b) Desire to change thier life purpose.
(c) Shock over actual income.
(d) Running out of room on the wall chart.
7. What is the meaning of the Spanish word, "aprovechar?"
(a) Achieving early retirement.
(b) To approve of all spending choices.
(c) To get full use or full enjoyment out of something.
(d) Having a successful career.
8. What usually happens after a person retires from their job?
(a) Income goes up.
(b) Expenses and income stay about the same.
(c) Expenses go up.
(d) Expenses go down.
9. The wall chart should accommodate data for how long?
(a) Five to seven years.
(b) Five to seven months.
(c) Seven to ten years.
(d) Until retirement.
10. What should a participant plot on their wall chart each month?
(a) Hours worked.
(b) Life energy spent.
(c) Income and expenses.
(d) All purchases.
11. What should people do with their extra money, once they earn more per month than they spend?
(a) Purchase a long-desired luxury.
(c) Work fewer hours per week.
(d) Turn it into an interest-bearing investment.
12. In the 101 SURE WAYS TO SAVE MONEY section, what do the authors advise people to do in order to save on housing?
(a) Buy and manage multiple rental properties.
(b) Buy a larger home as a hedge against inflation.
(c) Consider non-traditional housing.
(d) Avoid non-traditional housing.
13. If people invest more money each month, what happens to the monthly interest?
(a) The interest becomes tax-deductible.
(b) The interest increases each month.
(c) The interest must be withdrawn from the account.
(d) The interest decreases each month.
14. What should retired people do with their excess monthly income?
(a) Reinvest it or use it to do new projects.
(b) Use it to buy life energy.
(c) Help other family members reach the crossover point.
(d) Determing a new crossover point.
15. What generally happens to monthly expenses, when tracked by program participants?
(a) They gradually increase.
(b) They trend up or down along with income.
(c) They gradually decrease.
(d) They settle into a certain range.
Short Answer Questions
1. What do the authors warn job-hunters to avoid?
2. What is the best thing to do with the interest received?
3. What is the main pitfall of combining work with true passion or enjoyment?
4. If "work" is different from "paid employment," then which of the following is true?
5. Taking care of possessions and avoiding shopping are part of which list?
This section contains 693 words
(approx. 3 pages at 300 words per page)