Your Money or Your Life Test | Final Test - Easy

Joe Dominguez
This set of Lesson Plans consists of approximately 131 pages of tests, essay questions, lessons, and other teaching materials.
Buy the Your Money or Your Life Lesson Plans
Name: _________________________ Period: ___________________

This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

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

2. What is the recommended size of the wall chart?
(a) From 18 to 22 inches tall, and from 24 to 36 inches wide.
(b) From 18 to 22 inches wide, and from 24 to 36 inches tall.
(c) From 18 to 24 inches wide, and from 22 to 36 inches tall.
(d) From 18 to 24 inches tall, and from 22 to 36 inches wide.

3. What percentage of useful life objects could people add if they were not so anxious to replace them?
(a) Twenty to fifty percent.
(b) Fifty to eighty percent.
(c) One hundred percent.
(d) Ten percent.

4. The wall chart should accommodate data for how long?
(a) Seven to ten years.
(b) Five to seven months.
(c) Until retirement.
(d) Five to seven years.

5. 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."

6. What should people do with their extra money, once they earn more per month than they spend?
(a) Retire.
(b) Work fewer hours per week.
(c) Turn it into an interest-bearing investment.
(d) Purchase a long-desired luxury.

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

8. What is Step 8 of the program?
(a) Track investment income.
(b) Estimate when the crossover point will take place.
(c) Retire.
(d) Further reduce monthly expenses.

9. If people earn more than the minimum needed to pay bills, what should they do with the extra money?
(a) Donate to charity.
(b) Save it to use later in the program for investing.
(c) Purchase rental properties.
(d) Splurge on a luxury.

10. Where do the authors recommend finding job-hunting advice?
(a) "What Color Is Your Parachute?"
(b) The Internet.
(c) "What Color Is Your Safety Net?"
(d) Friends and family.

11. How many credit cards should program participants keep?
(a) One for business use, one for personal use, and one for emergencies.
(b) None.
(c) One for everyday use and one for emergencies.
(d) One, to be used only in emergencies.

12. How should investment income be tracked?
(a) Separately from other income.
(b) Combined with monthly expenses.
(c) Subtracted from monthly expenses.
(d) Combined with other income.

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

14. What is the main purpose of the wall chart?
(a) Keep finances on the person's mind, to help them make more conscious choices when spending money.
(b) To define values and purpose.
(c) To replace the monthly chart created previously.
(d) To define commitment to the program.

15. What should be repeatedly placed along the x-axis of the wall chart?
(a) 1 2 3 4 5 6 7.
(b) 1 2 3 4 5 6 7 8 9 10 11 12.
(c) M T W T F S S.
(d) J F M A M J J A S O N D.

Short Answer Questions

1. The top number on the y-axis should be at least how large?

2. Taking care of possessions and avoiding shopping are part of which list?

3. What should frugal people research before purchasing items?

4. If "work" is different from "paid employment," then which of the following is true?

5. What is the best thing to do with the interest received?

(see the answer keys)

This section contains 639 words
(approx. 3 pages at 300 words per page)
Buy the Your Money or Your Life Lesson Plans
Your Money or Your Life from BookRags. (c)2016 BookRags, Inc. All rights reserved.