Your Money or Your Life Test | Final 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. What do the authors warn job-hunters to avoid?
(a) Taking the first offer that comes along.
(b) Spending a lot of money on schemes to find the perfect job.
(c) Taking a job too closely connected to a hobby or passion.
(d) Taking a job that requires relocation.

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

3. How should investment income be tracked?
(a) Combined with monthly expenses.
(b) Separately from other income.
(c) Subtracted from monthly expenses.
(d) Combined with other income.

4. What should people do with their extra money, once they earn more per month than they spend?
(a) Retire.
(b) Turn it into an interest-bearing investment.
(c) Work fewer hours per week.
(d) Purchase a long-desired luxury.

5. How should program participants adjust their medical insurance?
(a) Cancel insurance and make healthier lifestyle choices.
(b) Accept a lower deductible.
(c) Cancel insurance and maintain a medical savings account.
(d) Accept a higher deductible.

Short Answer Questions

1. What should people do about unusual extra expenses, such as medical bills or birthday parties?

2. What is one advantage of estimating the likely timing of the crossover point?

3. What is one difference a frugal person should consider when choosing between two similar vehicles?

4. If people earn more than the minimum needed to pay bills, what should they do with the extra money?

5. What is the most important strategy in following Step 7?

Short Essay Questions

1. What are the advantages of predicting when the crossover point will occur?

2. How is Step 8 completed? What does it allow program participants to do?

3. Why do volunteers often feel more fulfilled than ever before?

4. What is a "cushion?" What are the advantages of having a cushion?

5. What job-hunting advice is included in the book?

6. What is ONE SURE WAY TO SAVE MONEY?

7. What happens for most people, after using the wall chart for a while?

8. What is Step 7? What are the advantages of following this step?

9. How far away from homelessness are most Americans?

10. How should investment income be tracked on the wall chart? What is the significance of this number?

(see the answer keys)

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