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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 3.

Multiple Choice Questions

1. Why do many people give up time with family, working on hobbies, and fulfilling dreams?
(a) They are lazy.
(b) They fear success.
(c) They are insecure.
(d) They are too busy working.

2. How is net worth determined?
(a) Estimated current sale price of all items currently owned, plus other assets such as cash and investments.
(b) All items purchased during a lifetime.
(c) Add together everything owned, then subtract everything owed.
(d) Multiply monthly income by 12.

3. What do most people claim to value more than money?
(a) Their talents.
(b) Their jobs.
(c) Their lives.
(d) Their health.

4. Most Americans divide their discretionary time equally between what two activities?
(a) Eating and drinking.
(b) Working and spending.
(c) Family and friends.
(d) Leisure and retirement.

5. Which of the following does the cultural perspective of money include?
(a) Buying insurance.
(b) Fear when investing.
(c) Life energy.
(d) Fear of inflation.

Short Answer Questions

1. What is the intrinsic value of money?

2. What is the state of having enough to spend in order to purchase just enough?

3. What are piggy banks and cookie jars examples of?

4. Where do most products we purchase end up?

5. What have many people been told by parents and guidance counselors?

(see the answer key)

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