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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 8.

Multiple Choice Questions

1. What broad category are alcohol and tobacco subcategories of?
(a) Recreational expenses.
(b) Occasional expenses.
(c) Forbidden expenses.
(d) Acceptable expenses.

2. Question 3 asks participants to consider what it would be like to do what?
(a) Find a life mission.
(b) Eliminate debt.
(c) Retire.
(d) Conserve life energy.

3. What is the main purpose of the wall chart?
(a) To replace the monthly chart created previously.
(b) To define commitment to the program.
(c) To define values and purpose.
(d) Keep finances on the person's mind, to help them make more conscious choices when spending money.

4. If people stop buying any extras at all, what are they in danger of doing?
(a) Running out of room on the wall chart.
(b) Buying twice as much the following month.
(c) Losing life energy.
(d) Returning to their old habits.

5. What should people do about unusual extra expenses, such as medical bills or birthday parties?
(a) Accept them as a normal part of financial life.
(b) Categorize them as "gazingus pins."
(c) Create an extra chart to track them.
(d) Avoid them whenever possible.

Short Answer Questions

1. What is one difference a frugal person should consider when choosing between two similar vehicles?

2. What should people do with their extra money, once they earn more per month than they spend?

3. Which of the following does the emotional and psychological perspective of money include?

4. What determines mastery of Step 3?

5. If people earn more than the minimum needed to pay bills, what should they do with the extra money?

(see the answer key)

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