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

Multiple Choice Questions

1. What is the best thing to do with the interest received?
(a) Purchase rental properties.
(b) Reinvest it.
(c) Purchase a larger home as a hedge against inflation.
(d) Put the money under a mattress for a rainy day.

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

3. How does eating a proper diet make sense financially?
(a) Eating good foods can prevent illnesses and reduce medical costs.
(b) Eating less saves money.
(c) Eating three meals a day saves money.
(d) Losing weight means no money spent on gym memberships.

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

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

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

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

8. Where should monthly investment income be tracked?
(a) On a new chart.
(b) On reports from investment brokers.
(c) On the income and expense charts created in Chapters 2 and 3.
(d) On the wall chart.

9. 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) Avoid non-traditional housing.
(c) Buy a larger home as a hedge against inflation.
(d) Consider non-traditional housing.

10. What are 1,001 SURE WAYS TO SAVE MONEY?
(a) A list of strategies to achieve early retirement.
(b) A list of coupon resources.
(c) Participants should look at their own expense lists and make their own list of ways to save.
(d) A list of contacts for business networking.

11. What may reaching the crossover point cause participants to do?
(a) Start a new wall chart.
(b) Increase spending.
(c) Continue working or choose a new job.
(d) Explore other routes to work.

12. If people invest more money each month, what happens to the monthly interest?
(a) The interest decreases each month.
(b) The interest becomes tax-deductible.
(c) The interest must be withdrawn from the account.
(d) The interest increases each month.

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

14. A line should be drawn connecting the current month's income to what?
(a) The previous month's expenses.
(b) The previous year's income.
(c) The previous month's income.
(d) The current month's expenses.

15. Prestige, status, and power can be reasons for what?
(a) Choosing a certain job.
(b) Keeping up with the neighbors.
(c) Early retirement.
(d) Retaining life energy.

Short Answer Questions

1. What are two tips for reducing transportation expenses?

2. The crossover point is based on what?

3. Paying attention to every thought and deciding whether to act on each thought is crucial to what?

4. What is the main pitfall of combining work with true passion or enjoyment?

5. What generally happens to monthly expenses, when tracked by program participants?

(see the answer keys)

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