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

Multiple Choice Questions

1. What are piggy banks and cookie jars examples of?
(a) Savings categories.
(b) Places where a person should never keep money.
(c) Items too fragile to hold anything but paper money.
(d) Symbols to place next to money-saving items in a monthly chart.

2. What are bare necessities, as defined in Chapter 1?
(a) Food and water.
(b) Everything owned by an individual.
(c) All items needed to meet basic physical needs.
(d) A house and car.

3. How often should people total their income and expenses?
(a) Whenever a paycheck is deposited.
(b) Once a week.
(c) Once a month.
(d) Daily.

4. What three columns should record-keeping include?
(a) Gross income, life energy spent, and expenses to eliminate.
(b) Necessities, luxuries, and expenses to eliminate.
(c) Income, expenditures, and hours of life energy spent.
(d) Salary, gifts, and prizes.

5. On average, what do Americans have less of than ever before?
(a) Savings.
(b) Debt.
(c) Education.
(d) Children.

Short Answer Questions

1. What is Step 1, Part 2 of the program?

2. Which perspective of money should readers embrace?

3. What is the key to good spending habits?

4. Which of the following does the cultural perspective of money include?

5. What broad category are alcohol and tobacco subcategories of?

(see the answer key)

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