Your Money or Your Life Test | Final 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. How do most people define work?
(a) What they do to make a living.
(b) Full-time employment.
(c) Life energy spent.
(d) Anything that is not enjoyable.

2. Participants should always remain conscious of what?
(a) Inflation.
(b) Life energy.
(c) All the job opportunities around them.
(d) Impending retirement.

3. A person's crossover point is an estimate based on which type of expenses?
(a) Monthly expenses while they are working.
(b) Monthly expenses after retirement.
(c) Food, housing, insurance, and health.
(d) Food and housing only.

4. What can cause some people to stop buying any extras at all, after starting to use the wall chart?
(a) Desire to change thier life purpose.
(b) Shock over actual income.
(c) Shock at their spending habits.
(d) Running out of room on the wall chart.

5. What is the main pitfall of combining work with true passion or enjoyment?
(a) Passion doesn't always make up for lack of talent.
(b) Enjoyment goes against the puritan work ethic.
(c) Having to compromise in order to satisfy someone else.
(d) Enjoyable jobs don't command respect.

6. Statistically, how many Americans are overweight?
(a) Half.
(b) Three-fourths.
(c) One-third.
(d) Two-thirds.

7. 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) Losing weight means no money spent on gym memberships.
(d) Eating three meals a day saves money.

8. Which of the following is the one and only thing that a job should be about?
(a) Security.
(b) Earning money.
(c) Learning valuable information or skills.
(d) Duty or desire to be of service.

9. What is one difference a frugal person should consider when choosing between two similar vehicles?
(a) Resale values.
(b) Available options.
(c) Prestige.
(d) Foreign-made vs. American-made.

10. What usually happens after a person retires from their job?
(a) Expenses go down.
(b) Expenses go up.
(c) Income goes up.
(d) Expenses and income stay about the same.

11. What is one sure way to save money?
(a) Find alternative housing.
(b) Find a higher-paying job.
(c) Retire early.
(d) Stop trying to impress other people.

12. If people stop buying any extras at all, what are they in danger of doing?
(a) Losing life energy.
(b) Buying twice as much the following month.
(c) Returning to their old habits.
(d) Running out of room on the wall chart.

13. What should a participant plot on their wall chart each month?
(a) Life energy spent.
(b) Hours worked.
(c) Income and expenses.
(d) All purchases.

14. What should people do about unusual extra expenses, such as medical bills or birthday parties?
(a) Accept them as a normal part of financial life.
(b) Categorize them as "gazingus pins."
(c) Avoid them whenever possible.
(d) Create an extra chart to track them.

15. Being financially independent requires what?
(a) Retirement.
(b) Inheriting a large estate.
(c) Having savings and no debt.
(d) Earning life energy.

Short Answer Questions

1. What is the best method of choosing which expenses to reduce or eliminate?

2. What do the authors warn job-hunters to avoid?

3. Monthly investment income is calculated by determining current excess money each month, then doing what?

4. The wall chart's time span is a rough deadline for what?

5. How should people handle unusual extra expenses?

(see the answer keys)

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