|Name: _________________________||Period: ___________________|
This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.
Multiple Choice Questions
1. What should people do as soon as possible?
(a) Complete the wall chart.
(b) Get out of debt.
(c) Find supplemental income.
2. What is one advantage of estimating the likely timing of the crossover point?
(a) People may become more eager about going to work and doing a good job.
(b) People tend to leave their current job for a more enjoyable one.
(c) People retire early.
(d) People spend less.
3. Where should monthly investment income be tracked?
(a) On the wall chart.
(b) On reports from investment brokers.
(c) On a new chart.
(d) On the income and expense charts created in Chapters 2 and 3.
4. A person's crossover point is an estimate based on which type of expenses?
(a) Food, housing, insurance, and health.
(b) Food and housing only.
(c) Monthly expenses while they are working.
(d) Monthly expenses after retirement.
5. What should people do about unusual extra expenses, such as medical bills or birthday parties?
(a) Create an extra chart to track them.
(b) Accept them as a normal part of financial life.
(c) Avoid them whenever possible.
(d) Categorize them as "gazingus pins."
Short Answer Questions
1. What is the crossover point?
2. What mistake do people often make, when describing their jobs?
3. Taking care of possessions and avoiding shopping are part of which list?
4. What is the recommended size of the wall chart?
5. Statistically, how many Americans are overweight?
Short Essay Questions
1. What is a "cushion?" What are the advantages of having a cushion?
2. What happens for most people, after using the wall chart for a while?
3. Why are most people happier when their jobs are not related to their passions?
4. What are a person's options, once he reaches his crossover point?
5. How is Step 8 completed? What does it allow program participants to do?
6. What do many people try to get from other jobs, other than a paycheck?
7. Describe the process of creating the wall chart.
8. Why is it unwise to seek employment in an area involving a person's passion?
9. Why should the wall chart be displayed where participants can view it easily?
10. What will participants inevitably end up doing if they strive to maximize income and minimize expenses? As a result, what should they do next?
This section contains 990 words
(approx. 4 pages at 300 words per page)