|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What should people be willing to do?
(a) Work more than 40 hours per week.
(b) Sacrifice income for a job that matches a passion.
(c) Work for what they want.
(d) Sacrifice family time for more income.
2. What are two tips for reducing transportation expenses?
(a) Walking to do local errands and retiring early.
(b) Buying a new car and learning to do basic auto maintenance.
(c) Walking to do local errands and learning to do basic auto maintenance.
(d) Retiring early and buying a new car.
3. The numbers along the y-axis should increase by what increment?
(a) 1,000 or 2,000.
(b) 1 or 2.
(c) 10 or 20.
(d) 100 or 200.
4. What is the main pitfall of combining work with true passion or enjoyment?
(a) Enjoyable jobs don't command respect.
(b) Enjoyment goes against the puritan work ethic.
(c) Passion doesn't always make up for lack of talent.
(d) Having to compromise in order to satisfy someone else.
5. What should frugal people research before purchasing items?
(a) Value, quality, durability, and multiple use.
(b) Value, quality, and availability.
(c) Popularity, quality, durability, and multiple use.
(d) Color, style, and multiple use.
6. What are some good alternatives to buying what is needed?
(a) Sharing, trading, and stealing.
(b) Borrowing, trading, and sharing.
(c) Trading, sharing, and retiring.
(d) Begging, stealing, and borrowing.
7. The top number on the y-axis should be at least how large?
(a) Twice 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) Three times as large as the participant's expected income.
8. What generally happens to monthly expenses, when tracked by program participants?
(a) They gradually increase.
(b) They gradually decrease.
(c) They trend up or down along with income.
(d) They settle into a certain range.
9. Why should people try not to turn their job into an identity?
(a) Only volunteerism creates an identy.
(b) Changing careers could cause an identity crisis.
(c) Identity comes from friends and family.
(d) So that their lives could be about something different.
10. Most of the 101 SURE WAYS TO SAVE MONEY have what added benefit?
(a) They increase hourly wage.
(b) They delay retirement.
(c) They improve career options.
(d) They are good for the planet.
11. How does eating a proper diet make sense financially?
(a) Losing weight means no money spent on gym memberships.
(b) Eating less saves money.
(c) Eating good foods can prevent illnesses and reduce medical costs.
(d) Eating three meals a day saves money.
12. The crossover point is based on what?
(a) The transition from an enjoyable job to a well-paying job.
(b) The wall chart.
(c) The decision to earn more money.
(d) Traffic patterns during work commute.
13. What usually happens after a person retires from their job?
(a) Expenses go up.
(b) Expenses go down.
(c) Expenses and income stay about the same.
(d) Income goes up.
14. The wall chart's time span is a rough deadline for what?
(a) Achieving financial independence.
(c) Finding a new career.
(d) Finding a life purpose.
15. How should investment income be tracked?
(a) Subtracted from monthly expenses.
(b) Combined with monthly expenses.
(c) Separately from other income.
(d) Combined with other income.
Short Answer Questions
1. What is the main purpose of the wall chart?
2. What mistake do people often make, when describing their jobs?
3. What is the true definition of work?
4. What is Step 6?
5. What should be repeatedly placed along the x-axis of the wall chart?
This section contains 617 words
(approx. 3 pages at 300 words per page)