1. To be frugal includes all of the following except
A- being resourceful when satisfying your need for goods and services.
B- buying all the things you want.
C- using already-owned items.
D- practicing restraint in how you consume goods and services.
2. What rule(s) is (are) a good way to allocate your money?
A- 80-10-10 rule.
B- 90-10 rule.
C- 70-30 rule.
D- Both 80-10-10 and 90-10 are good ways to allocate money.
3. What is voluntary simplicity?
A- Volunteering your time and money to help a great cause
B- A high-stress, complicated lifestyle in which consumption and materialism are increased
C- Being resourceful when fulfilling your need for goods and services, using already owned items, and doing it yourself
D- A simple, low-stress lifestyle where consumption and materialism are minimized
4. Money you receive from your investments and savings is called
A- passive income.
B- retirement plan (401k).
C- frugal.
D- a paycheck.
5. The acronym for setting good goals is SMART. What does each letter in SMART stand for?
A- Smart, Measurable, Attainable, Real, Time
B- Specific, Measurable, Attainable, Reliable, Time
C- Specific, Measurable, Attainable, Realistic, Time
D- Serious, Measurable, Attainable, Reachable, Time
6. In which instances are you really "in control of your money"?
A- When money is used for enjoyment
B- When money is a grave necessity
C- When you are shopping at the mall
D- When it is used as a resource
7. What makes up 40% of your happiness?
A- Attitude and self-directed behavior
B- Family and friends
C- Paid bonuses
D- Winning the lottery