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

Multiple Choice Questions

1. Why are vacations considered to be a work expense?
(a) They are necessary to relieve work-related stress.
(b) Only employed individuals can afford vacations.
(c) They are required by law.
(d) Most employees take laptops or cell phones on vacation.

2. How many perspectives of money are there?
(a) Six.
(b) Four.
(c) One for each person.
(d) An infinite number.

3. Where do most products we purchase end up?
(a) In landfills.
(b) Overseas.
(c) Passed on to the next generation.
(d) In garage sales.

4. People strive to buy and earn more than they need to live at the peak of their fulfillment curve due to which perspective of money?
(a) Cultural.
(b) Intrinsic value.
(c) Emotional and psychological.
(d) Greed.

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

Short Answer Questions

1. What will eventually run out?

2. What is the purpose of dividing income and expenses into categories?

3. Why are small, specific categories recommended over traditional, broad categories?

4. The charts shown in the book for single people and couples are meant to be used how?

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

(see the answer key)

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