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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. In the 101 SURE WAYS TO SAVE MONEY section, what do the authors advise people to do in order to save on housing?
(a) Avoid non-traditional housing.
(b) Buy a larger home as a hedge against inflation.
(c) Buy and manage multiple rental properties.
(d) Consider non-traditional housing.

2. What are 1,001 SURE WAYS TO SAVE MONEY?
(a) A list of contacts for business networking.
(b) A list of coupon resources.
(c) Participants should look at their own expense lists and make their own list of ways to save.
(d) A list of strategies to achieve early retirement.

3. How do most people define work?
(a) Anything that is not enjoyable.
(b) What they do to make a living.
(c) Full-time employment.
(d) Life energy spent.

4. What do the authors describe as "having a high joy-to-stuff ratio?"
(a) Retirement.
(b) Life energy.
(c) Success.
(d) Being frugal.

5. What is a major advantage of separating employment from passion?
(a) A greater variety of employment options becomes available.
(b) Jobs that do not inspire passion usually pay more.
(c) It is better to remove emotion from gainful employment.
(d) Passion won't be used as a substitute for experience.

6. Where do the authors recommend finding job-hunting advice?
(a) "What Color Is Your Safety Net?"
(b) Friends and family.
(c) The Internet.
(d) "What Color Is Your Parachute?"

7. How should investment income be tracked?
(a) Subtracted from monthly expenses.
(b) Combined with monthly expenses.
(c) Separately from other income.
(d) Combined with other income.

8. If people earn more than the minimum needed to pay bills, what should they do with the extra money?
(a) Splurge on a luxury.
(b) Save it to use later in the program for investing.
(c) Donate to charity.
(d) Purchase rental properties.

9. Why should people try not to turn their job into an identity?
(a) Changing careers could cause an identity crisis.
(b) So that their lives could be about something different.
(c) Identity comes from friends and family.
(d) Only volunteerism creates an identy.

10. Prestige, status, and power can be reasons for what?
(a) Early retirement.
(b) Choosing a certain job.
(c) Keeping up with the neighbors.
(d) Retaining life energy.

11. Why do people feel very free when volunteering?
(a) Volunteer work is unpaid.
(b) Volunteering can lead to job offers.
(c) Volunteering requires no skill.
(d) Because they do not have to be there, and can do things their way.

12. Which of the following is the one and only thing that a job should be about?
(a) Earning money.
(b) Security.
(c) Learning valuable information or skills.
(d) Duty or desire to be of service.

13. What is one difference a frugal person should consider when choosing between two similar vehicles?
(a) Prestige.
(b) Available options.
(c) Foreign-made vs. American-made.
(d) Resale values.

14. What encourages family, friends, and neighbors to support the participant's goals in following this program?
(a) Making wall charts for them to use.
(b) Making retirement plans with them.
(c) Asking them for a loan.
(d) Placing the wall chart in a public place.

15. What should frugal people research before purchasing items?
(a) Value, quality, and availability.
(b) Popularity, quality, durability, and multiple use.
(c) Value, quality, durability, and multiple use.
(d) Color, style, and multiple use.

Short Answer Questions

1. What should people do about unusual extra expenses, such as medical bills or birthday parties?

2. What usually happens after a person retires from their job?

3. Participants will end up making more money than they spend if they do what?

4. The numbers along the y-axis should increase by what increment?

5. What is Step 8 of the program?

(see the answer keys)

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