|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 retired people do with their excess monthly income?
(a) Help other family members reach the crossover point.
(b) Reinvest it or use it to do new projects.
(c) Use it to buy life energy.
(d) Determing a new crossover point.
2. Where do the authors recommend finding job-hunting advice?
(a) Friends and family.
(b) "What Color Is Your Parachute?"
(c) "What Color Is Your Safety Net?"
(d) The Internet.
3. What are two tips for reducing transportation expenses?
(a) Buying a new car and learning to do basic auto maintenance.
(b) Retiring early and buying a new car.
(c) Walking to do local errands and retiring early.
(d) Walking to do local errands and learning to do basic auto maintenance.
4. What is one difference a frugal person should consider when choosing between two similar vehicles?
(a) Available options.
(c) Foreign-made vs. American-made.
(d) Resale values.
5. How should people handle unusual extra expenses?
(a) Try to obtain a higher-paying job.
(b) Obtain a home equity loan.
(c) Pay with cash or try to spread the expense out over several months.
(d) Obtain a designated credit card.
Short Answer Questions
1. What is the main pitfall of combining work with true passion or enjoyment?
2. The crossover point is based on what?
3. The top number on the y-axis should be at least how large?
4. Most of the 101 SURE WAYS TO SAVE MONEY have what added benefit?
5. What is Step 6?
Short Essay Questions
1. What are a person's options, once he reaches his crossover point?
2. How far away from homelessness are most Americans?
3. What job-hunting advice is included in the book?
4. Describe the process of creating the wall chart.
5. What is the difference between the word "frugal" and the Spanish word "aprovechar?" Which do the authors prefer?
6. Summarize the 10 SURE WAYS TO SAVE MONEY.
7. What is a "cushion?" What are the advantages of having a cushion?
8. What do many people try to get from other jobs, other than a paycheck?
9. What is Step 7? What are the advantages of following this step?
10. What are 1,001 SURE WAYS TO SAVE MONEY?
This section contains 895 words
(approx. 3 pages at 300 words per page)