|Name: _________________________||Period: ___________________|
This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.
Multiple Choice Questions
1. What is the intrinsic value of money?
(a) Real hourly wage.
(b) Emotional and psychological.
(d) Money has no intrinsic value.
2. If people spend half of their time sleeping, eating, and doing everything necessary for maintaining their bodies, then the other half is available for what?
(a) Managing money.
(b) Life energy.
(c) Keeping up with the neighbors.
(d) Whatever they choose.
3. Why do many people give up time with family, working on hobbies, and fulfilling dreams?
(a) They are lazy.
(b) They fear success.
(c) They are too busy working.
(d) They are insecure.
4. What is Step 1, Part 2 of the program?
(a) List everything owned.
(b) Determine net worth.
(c) Declutter the garage and basement.
(d) Determine how much money has been earned so far in a lifetime.
5. Each person has only a limited amount of what?
(a) Life energy.
(c) Intrinsic value.
(d) Emotional energy.
Short Answer Questions
1. Earning, saving, and spending money are part of which perspective?
2. What must a person do to become financially independent?
3. Why should clothing be broken down into smaller categories, such as informal, work, sports, etc.?
4. What is the key to good spending habits?
5. What is one of the main economic principles most businesses follow?
Short Essay Questions
1. Where does the "rat race" come from?
2. Why do many people give up on their dreams early in life?
3. For Step 4, what is the second question program participants should ask, regarding every expense on their chart? What is required, before answering this question?
4. What are some of the not-so-obvious expenses related to a person's work?
5. For Step 4, what is the first question program participants should ask, regarding every expense on their chart? How does the chart answer the question?
6. How does our consumption hurt the environment?
7. What are the three perspectives of money the authors ask program participants to reject? Include brief descriptions.
8. Compare a person's typical response to a long-term threat with the typical response to an immediate threat.
9. Why is Step 4 considered the heart of the program?
10. For Step 4, what is the third question program participants should ask, regarding every expense on their chart? What does this question prompt people to do?
This section contains 811 words
(approx. 3 pages at 300 words per page)