1.
According to the author, the main management skills consist of the following except:
Correct Answer
D. Managing solutions
Explanation
The author discusses the main management skills, which include managing cash flow, managing systems, and managing people. However, the author does not mention managing solutions as one of the main management skills. Therefore, managing solutions is the correct answer.
2.
Who does the author say to pay first?
Correct Answer
A. Yourself
Explanation
The author suggests paying yourself first because it is important to prioritize saving and investing for your own future financial security. By paying yourself first, you ensure that you have money set aside for emergencies, retirement, or other financial goals. This approach emphasizes the importance of personal financial well-being and encourages individuals to prioritize their own financial stability before paying other obligations or debts.
3.
According to the author, the most specialized skills are:
Correct Answer
C. Sales and marketing
Explanation
The author believes that sales and marketing are the most specialized skills. This implies that these skills require a specific set of knowledge, experience, and expertise that may not be as necessary for other skills like buying and selling, assets and liabilities distribution, or record-keeping and registration. Sales and marketing involve strategies, techniques, and understanding consumer behavior to effectively promote and sell products or services, making them highly specialized skills in the author's perspective.
4.
What is the "Chicken Little" Syndrome?
Correct Answer
D. People who are always negative and pessimistic. "The sky is falling!" mentality.
Explanation
The "Chicken Little" Syndrome refers to people who are always negative and pessimistic, constantly expecting the worst and believing that disaster is imminent. This mentality is characterized by the phrase "The sky is falling!" which symbolizes their exaggerated fear and tendency to overreact to minor problems. These individuals often lack optimism and have a tendency to spread fear and panic among others.
5.
According to the author, what is the most important asset?
Correct Answer
D. Financial aptitude and intelligence (mind)
Explanation
The author believes that the most important asset is financial aptitude and intelligence (mind). This implies that having the knowledge and skills to manage and understand finances is crucial. While a house, stocks, and a nice car may have value, they can be acquired or lost over time. However, financial aptitude and intelligence are transferable skills that can help individuals make informed decisions, build wealth, and adapt to changing circumstances.
6.
The following are steps given by the author to developing one's power except:
Correct Answer
D. Take advantage of the weaknesses of your competitors
Explanation
The author provides steps for developing one's power, which include feeding the mind, taking care when choosing friends, and teaching in order to receive. However, the step of taking advantage of the weaknesses of competitors is not mentioned by the author as a way to develop power.
7.
What skill is the author referring to when he states "some people are one skill away from great wealth"?
Correct Answer
B. Communication
Explanation
The author is referring to the skill of communication when he states "some people are one skill away from great wealth". This suggests that being able to effectively communicate and convey ideas, information, and thoughts is a valuable skill that can lead to financial success and opportunities for wealth.
8.
The author states there are 5 personality traits that hamper (hinder) human beings. The following are all traits mentioned except:
Correct Answer
A. Ambition
Explanation
The author discusses five personality traits that hinder human beings, and the answer choice "ambition" is not mentioned among these traits. The other three mentioned traits, laziness, fear, and bad habits, are acknowledged by the author as hindrances. Therefore, ambition is not considered one of the personality traits that hamper individuals according to the author's perspective.
9.
Complete the quote from the author "One outstanding trait of great wealthy families is that they give money away, unlike the poor who believe......
Correct Answer
C. Charity begins at home."
Explanation
The correct answer is "charity begins at home." This quote implies that great wealthy families understand the importance of giving back and helping those in need. They believe that it is their responsibility to start by helping their own family and community before extending their support to others. This mindset reflects their generosity and compassion towards others, which sets them apart from the poor who may hold the belief that the rich are inherently privileged and do not need to give back.
10.
Fill in the blank. The author states, "Work to ______________, Don't Work for Money."
Correct Answer
D. Learn
Explanation
The author suggests that instead of solely focusing on making money, one should prioritize learning. By emphasizing the importance of acquiring knowledge and skills, the author implies that personal growth and development should be the primary motivation for work. This approach may lead to long-term success and fulfillment, as continuous learning can open doors to new opportunities and enable individuals to adapt to changing circumstances.