|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. What is Step 8 of the program?
2. Being financially independent requires what?
3. When can program participants consider retirement?
4. What is the main pitfall of combining work with true passion or enjoyment?
5. If people earn more than the minimum needed to pay bills, what should they do with the extra money?
Short Essay Questions
1. How far away from homelessness are most Americans?
2. What job-hunting advice is included in the book?
3. How is Step 8 completed? What does it allow program participants to do?
4. What is ONE SURE WAY TO SAVE MONEY?
5. What span of time should the wall chart cover? Why?
6. What happens for most people, after using the wall chart for a while?
7. What are a person's options, once he reaches his crossover point?
8. What is the difference between the word "frugal" and the Spanish word "aprovechar?" Which do the authors prefer?
9. How should investment income be tracked on the wall chart? What is the significance of this number?
10. Why is it unwise to seek employment in an area involving a person's passion?
Write an essay for ONE of the following topics:
Essay Topic 1
Why should people try their best to get out of debt, when credit cards are readily available? Why should people save a six-month cushion? What is the real meaning of financial independence?
Essay Topic 2
Why should people pursue their passion away from work, as a volunteer, hobbyist, or advocate? What pitfalls exist for people who earn a living from what they are passionate about?
Essay Topic 3
According to the authors, why does money have no intrinsic value? What are the four perspectives of money? Which perspectives do the authors reject? Why? Which perspective do the authors advocate? Why?
This section contains 800 words
(approx. 3 pages at 300 words per page)