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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 4.

Multiple Choice Questions

1. What is the purpose of dividing income and expenses into categories?
(a) To decide if a career change is warranted.
(b) To determine if enough money will be available for retirement.
(c) To determine net worth.
(d) To judge whether expenses are worth the life energy spent.

2. For Question 3 under what circumstance would one enter a minus sign on the chart?
(a) If that expense category will most likely be reduced after retirement.
(b) If the expense category will most likely cease after retirement.
(c) If monthly expenses exceed monthly income.
(d) If the expense category does not fit with values.

3. Why should clothing be broken down into smaller categories, such as informal, work, sports, etc.?
(a) To avoid purchases that are worn only once.
(b) To encourage donations of older clothes to charity.
(c) To allow for a greater volume of work-related purchases.
(d) To encourage participation in sports.

4. What might cause readers to feel guilty, after completing Step 1?
(a) Spending too much time with family.
(b) Feeling less successful than their work colleagues.
(c) Seeing their credit score.
(d) Seeing how much they owe or how little they have earned.

5. In Question 2, what must participants ask if each expenditure is in alignment with?
(a) Their values and life purpose.
(b) Family needs.
(c) Statistical norms.
(d) Hours spent at work.

Short Answer Questions

1. What will eventually run out?

2. 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?

3. What are "gazingus pins?"

4. On average, what do Americans have more of than ever before?

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

(see the answer key)

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