Mid-Book Test - Medium
|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 an important aspect of the second half of Step 2?
(a) Not feeling shame or blame.
(b) Saving life energy.
(c) Saving as much money as possible.
(d) Tracking net worth.
2. What determines mastery of Step 3?
(a) When the actual money left at the end of the month equals the amount shown by recordkeeping.
(b) When life energy equals net worth.
(c) When income exceeds spending.
(d) When gross income has been determined.
3. What can help people determine what they value?
(a) What items they possess.
(b) Studying family history.
(c) Asking how they would spend their time if they had one year to live.
(d) Assessing their careers.
4. According to many Americans, what is considered a sin?
(a) Spending too much.
(b) Just sitting around and enjoying life.
(c) Buying low, selling high.
(d) Working too much.
5. What do the authors suggest that people divide their spending into?
(a) Three columns.
(b) Categories determined by life energy.
(c) Categories that make sense for them.
(d) Categories defined in Chapter 3.
Short Answer Questions
1. What must a person do to become financially independent?
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?
3. What is the key to good spending habits?
4. People strive to buy and earn more than they need to live at the peak of their fulfillment curve due to which perspective of money?
5. Which perspective of money should readers embrace?
Short Essay Questions
1. Describe the process of creating the wall chart.
2. What is the difference between the word "frugal" and the Spanish word "aprovechar?" Which do the authors prefer?
3. Summarize the 10 SURE WAYS TO SAVE MONEY.
4. What happens for most people, after using the wall chart for a while?
5. What are some problems associated with "business as usual?"
6. Why is Step 4 considered the heart of the program?
7. What are 1,001 SURE WAYS TO SAVE MONEY?
8. What is Step 7? What are the advantages of following this step?
9. Whenever people spend money, what more valuable commodity are they also spending?
10. What is the second common investment myth that the authors wish to dispel?
This section contains 832 words
(approx. 3 pages at 300 words per page)