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

Multiple Choice Questions

1. What do the authors suggest that people divide their spending into?
(a) Categories that make sense for them.
(b) Categories defined in Chapter 3.
(c) Three columns.
(d) Categories determined by life energy.

2. Earning, saving, and spending money are part of which perspective?
(a) Inflation.
(b) Emotional and psychological.
(c) Life energy.
(d) Physical.

3. Where do most products we purchase end up?
(a) Passed on to the next generation.
(b) Overseas.
(c) In garage sales.
(d) In landfills.

4. Some people reach the top of their profession and make good money, yet are still not what?
(a) Wealthy.
(b) Secure.
(c) Happy.
(d) Married.

5. What can help people determine what they value?
(a) Studying family history.
(b) Asking how they would spend their time if they had one year to live.
(c) Assessing their careers.
(d) What items they possess.

6. What two addictions are compared in Chapter 3?
(a) Overspending and gambling.
(b) Overeating and overspending.
(c) Gambling and shopping.
(d) Alcoholism and smoking.

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

8. Why are vacations considered to be a work expense?
(a) Most employees take laptops or cell phones on vacation.
(b) Only employed individuals can afford vacations.
(c) They are required by law.
(d) They are necessary to relieve work-related stress.

9. What does Question 1 help people figure out?
(a) How to choose a new career.
(b) How to increase income.
(c) How to eliminate debt.
(d) How they could increase or decrease spending to feel more fulfilled.

10. What are comforts, as defined in Chapter 1?
(a) Emotional support.
(b) Pillows and mattresses.
(c) Employment and financial security.
(d) Things people really enjoy.

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

12. What determines mastery of Step 3?
(a) When life energy equals net worth.
(b) When the actual money left at the end of the month equals the amount shown by recordkeeping.
(c) When gross income has been determined.
(d) When income exceeds spending.

13. What items are included in everything owned?
(a) All items in the garage and basement.
(b) All items purchased during a lifetime.
(c) Add together everything owned, then subtract everything owed.
(d) Estimated current sale price of all items currently owned, plus other assets such as cash and investments.

14. What will eventually run out?
(a) Time and money.
(b) The earth's resources.
(c) Social Security.
(d) Job growth.

15. What does Chapter 4 help people to figure out?
(a) How to reduce expenses.
(b) How to save life energy.
(c) What is fulfilling for them.
(d) How to increase income.

Short Answer Questions

1. What is the second half of Step 2?

2. What does the amount spent divided by real hourly wage equal?

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

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

5. What should be included in the "miscellaneous" category?

(see the answer keys)

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