|Name: _________________________||Period: ___________________|
This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.
Multiple Choice Questions
1. The charts shown in the book for single people and couples are meant to be used how?
(a) As tax records.
(b) As a family budget.
(c) As inspiration.
(d) As strict guides.
2. For Question 3 under what circumstance would one enter a minus sign on the chart?
(a) If the expense category does not fit with values.
(b) If the expense category will most likely cease after retirement.
(c) If monthly expenses exceed monthly income.
(d) If that expense category will most likely be reduced after retirement.
3. What attitude do the authors want readers to carry?
(a) No guts, no glory.
(b) No harm, no foul.
(c) No shame, no blame.
(d) No pain, no gain.
4. Earning, saving, and spending money are part of which perspective?
(b) Life energy.
(d) Emotional and psychological.
5. Why should people ask themselves how they can help others to avoid pain they have experienced?
(a) To reduce stress.
(b) To take their minds off their financial issues.
(c) To determine their real purpose in life.
(d) To find a new career option.
Short Answer Questions
1. How is net worth determined?
2. What must people do in order to make Step 3 work?
3. What might cause readers to feel guilty, after completing Step 1?
4. What should be included in the "miscellaneous" category?
5. What three columns should record-keeping include?
Short Essay Questions
1. What are some examples of recreational expense categories?
2. What are the three perspectives of money the authors ask program participants to reject? Include brief descriptions.
3. Whenever people spend money, what more valuable commodity are they also spending?
4. What are some of the not-so-obvious expenses related to a person's work?
5. What is the second half of Step 2? What are the most important aspects of this exercise?
6. What do the two parts of Step 2 allow program participants to track?
7. What should program participants do about their smaller, sometimes overlooked miscellaneous expenses?
8. Why is Step 4 considered the heart of the program?
9. What are some problems associated with "business as usual?"
10. Why do many people give up on their dreams early in life?
This section contains 764 words
(approx. 3 pages at 300 words per page)