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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 6.

Multiple Choice Questions

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

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

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

4. How should people handle unusual extra expenses?
(a) Pay with cash or try to spread the expense out over several months.
(b) Obtain a designated credit card.
(c) Obtain a home equity loan.
(d) Try to obtain a higher-paying job.

5. What does the physical perspective of money include?
(a) Gold.
(b) Balancing a checkbook.
(c) Personal responsibility and transformation.
(d) Using PIN numbers.

Short Answer Questions

1. What is the first half of Step 2?

2. A line should be drawn connecting the current month's income to what?

3. What are some good alternatives to buying what is needed?

4. What should the amount started with at the beginning of the month, plus total income, minus total expenses equal?

5. What should frugal people research before purchasing items?

(see the answer key)

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