No student devices needed. Know more
32 questions
Robert Kiyosaki followed the lessons of his _____.
Rich dad
Poor dad
What is the FIRST lesson that Kiyosaki's rich dad taught him?
Work hard
Go to the best college
The rich do not work for money
Read as many books as you can
Choose a career that pays the most
What is the second lesson?
Go to business school
Acquire financial literacy
Financial literacy is not as important as being rich
Become a wealthy businessman
Make money to spend money
What is the THIRD lesson? (Choose all that apply.)
Build your business and your wealth
Keep your expenses and liabilities low
Build a base of solid assets you love
Your profession and your business are the same
Understand accounting and cash management
In Chapter 4, Minding Your Business, what is Ray Kroc's profession and his business.
McDonald's business owner, salesman
Salesman, real estate
Hamburger salesman, franchisor
Motivational speaker, franchisor
What is the FOURTH lesson?
Don't work for other people
Understand taxation
Corporations pay more taxes than individuals
If your money works for you, you lose power to your employer
What is the FIFTH lesson?
Financially literate people work for really smart people.
The poor take money from the middle class.
Always ask for a job promotion.
The wealthy invent money.
What is the SIXTH lesson?
Work to acquire knowledge, not money
To get more money you need to specialize
Job security is everything
Easiest part of running a company is managing people
Which of the following are assets? (Choose all that apply.)
Savings and checking accounts
Value of real estate
Stocks and mutual funds
Loans
Credit cards
Which of the following are liabilities? (Choose all that apply.)
Savings and checking accounts
Value of real estate
Stocks and mutual funds
Loans
Credit cards
What is an asset?
Something that takes money out of your pocket
Something that puts money in your pocket
Expenses you pay every month
Money you have to repay plus interest
What is a liability?
Money you borrow and repay plus interest
Something that puts money in your pocket
Living expenses you pay every month
Money you earn from employment
What does it mean to be financially literate?
Understanding money and how to interpret numbers
Strong reading comprehension
Owning and managing a corporation
Managing a checking and savings account
What is an income statement?
Total income of employees in the business
Your job contract
Business assets, liabilities, and equity (capital)
Measures business revenue (income) and expenses
What is an balance sheet?
Total income of employees in the business
Your checking account balance with the bank
Assets, liabilities, and equity (capital) of a business
Business revenue (income) and expenses
When should a person buy luxuries?
When they get a bonus at work
Never
When you have extra cash flow to pay for it
When you have more liabilities than assets
How do rich people become rich?
Getting a good job working for somebody
Being gifted and geting straight A's in school
Winning the lottery
Acquiring assets that produce money
Going to the best colleges
What is a true luxury?
Reward for investing in and developing a real asset
A bonus from your employer
Working for someone else your entire life
Owning expensive shoes, cars, and mansions
Investing in a good education and job profession
What are capital gains?
A pay raise or job promotion
Profit from sale of property or an investment
Buying expensive real estate
Earning a profit for someone else's business
How can you start making more money?
Win the lottery
Seek high paying jobs
Awaken your financial genius, take action, find ideas
Document your accomplishments at work and ask for a pay raise
Which dad was the rich dad?
The 8th grade dropout
The college graduate
The one who advocated, "work your way up the corporate ladder."
The government bureaucrat
What are obstacles that prevent people from building and keeping wealth? (Choose all that apply.)
Self-doubt
Afraid to take risks
Lack of financial literacy
Lack of money
Lack of investments
When should you pay yourself?
After taxes
First
Last
Never
Who should you market more than anyone?
Yourself
Your broker
The government
Other people's business
Most people become what they ________, which is not themselves.
study
are told to do
believe
see
Choose your friends ______.
carefully
by age
by gender
by race
Never allow anyone to tell you your ______.
career
value
intellifence
beliefs
What is the "chicken little" syndrome?
People who are afraid of being poor
People who always invent new things
The US tax system
People who are always negative and pessimistic
How can you become rich?
Working for your own company
Hire family and friends to work for you
Hire smart people to work for you
Robert Kiyosaki says, "Work to _______, don't work for the money."
become a salesman
learn
invest
acquire liabilities
What is the most IMPORTANT asset?
Getting rich quick
Shoes and clothing
Buying stocks from companies you work for
Financial talent and intelligence
According to Kiyosaki, who doesn't have to pay high taxes?
Rich
Middle class
Poor
Explore all questions with a free account