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

Multiple Choice Questions

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

2. What is budgeting similar to?
(a) Dieting.
(b) Filing taxes.
(c) Reducing income.
(d) Mathematics.

3. 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 how much they owe or how little they have earned.
(d) Seeing their credit score.

4. The top number on the y-axis should be at least how large?
(a) Three times as large as the participant's expected income.
(b) Twice as large as the participant's expected expenses.
(c) Equal to the participant's expected income.
(d) Twice as large as the participant's expected income.

5. According to many Americans, what is considered a sin?
(a) Just sitting around and enjoying life.
(b) Buying low, selling high.
(c) Working too much.
(d) Spending too much.

Short Answer Questions

1. Why are expensive convenience foods considered to be a work expense?

2. For Question 3 under what circumstance would one enter a minus sign on the chart?

3. The wall chart should accommodate data for how long?

4. How is a real hourly wage figured?

5. What is an important aspect of the second half of Step 2?

(see the answer key)

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