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

Multiple Choice Questions

1. Why do many people give up time with family, working on hobbies, and fulfilling dreams?
(a) They are too busy working.
(b) They fear success.
(c) They are lazy.
(d) They are insecure.

2. What usually happens after a person retires from their job?
(a) Expenses and income stay about the same.
(b) Income goes up.
(c) Expenses go down.
(d) Expenses go up.

3. Why do people buy more than they need?
(a) To fight inflation.
(b) Survival instinct.
(c) To donate to charity.
(d) Greed.

4. Being financially independent requires what?
(a) Earning life energy.
(b) Having savings and no debt.
(c) Retirement.
(d) Inheriting a large estate.

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

Short Answer Questions

1. If people invest more money each month, what happens to the monthly interest?

2. Most Americans divide their discretionary time equally between what two activities?

3. What is the best method of choosing which expenses to reduce or eliminate?

4. What can cause some people to stop buying any extras at all, after starting to use the wall chart?

5. What are bare necessities, as defined in Chapter 1?

(see the answer key)

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