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