Your Money or Your Life Test | Mid-Book Test - Medium

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 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. How is net worth determined?
(a) Multiply monthly income by 12.
(b) All items purchased during a lifetime.
(c) Estimated current sale price of all items currently owned, plus other assets such as cash and investments.
(d) Add together everything owned, then subtract everything owed.

2. What is Question 3?
(a) How might this expenditure change if I did not have to work for a living?
(b) What are my dreams?
(c) In how many years will I be able to retire?
(d) Is income greater than expenses for the month?

3. Why should people not budget their money?
(a) Budgeting increases spending.
(b) Budgeters are inclined to mathematical error.
(c) Budgeters feel as if they are giving up something they love.
(d) Budgeting takes time away from family activities.

4. Some people reach the top of their profession and make good money, yet are still not what?
(a) Happy.
(b) Married.
(c) Wealthy.
(d) Secure.

5. For Question 1, what should be written in the chart if just enough was spent on an item?
(a) A zero.
(b) A minus.
(c) A plus.
(d) A check.

Short Answer Questions

1. What does Question 1 help people figure out?

2. What might cause readers to feel guilty, after completing Step 1?

3. The charts shown in the book for single people and couples are meant to be used how?

4. In Question 1, for each expense, participants must ask if they received fulfillment, satisfaction, and value in proportion to what?

5. What is the final part of Step 3?

Short Essay Questions

1. Compare a person's typical response to a long-term threat with the typical response to an immediate threat.

2. What is the first part of Step 1? What is its purpose?

3. What is the second part of Step 1? What attitude should participants try to maintain when they see their result?

4. 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?

5. What are some of the not-so-obvious expenses related to a person's work?

6. 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?

7. What do the two parts of Step 2 allow program participants to track?

8. Why do many people give up on their dreams early in life?

9. Why is Step 4 considered the heart of the program?

10. How does the protestant work ethic influence the behavior of many Americans?

(see the answer keys)

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