Deck 16: Resource Management: Managing Time and Money

Question 1

A daily $4 cup of coffee habit could result in this amount of money by year's end if you avoid this temptation.

A) $50
B) $100
C) $500
D) $1,400

Answer 1

D

Question 2

The stress of "poverty consciousness" is best described this way.

A) A perpetual lack of money
B) The fear of not enough money
C) Spending more money than you have
D) The fear of not paying your bills on time

Answer 2

B

Question 3

Tips for "financial freedom" include all but which of the following?

A) Make a budget and follow it.
B) Place your credit cards in a glass of water and place the glass in the freezer.
C) Don't lend money to your friends.
D) Consolidate your debt.

Answer 3

C

Question 4

The foundation of sound time management skills includes which of the following aspects?

A) Minimize time deadline stressors and avoid procrastination of major tasks.
B) Prioritize, adequately schedule, and execute personal daily stressors to satisfaction.
C) Edit personal daily schedule to essential responsibilities.
D) Make a list of short- and long-term goals, and reward the accomplishments.

Question 5

Having a hard time saying "No" would fall in which category of time robbers?

A) Time juggler
B) Lifestyle behavior
C) Perfectionist
D) Procrastinator

Question 6

The suggested rule of thumb for estimating the time of completion for a task is:

A) 1.5 times as much as originally planned.
B) 2 times as much as originally planned.
C) 2.5 times as much as originally planned.
D) 3 times as much as originally planned.

Question 7

Which of the following is not considered one of the "Three Cs" of time management?

A) Clocks
B) Calendars
C) Creativity
D) Completion dates

Question 8

Which of the following is not considered one of the "Three Ps" of time management?

A) Punctuality
B) Planning
C) Pacing
D) Priorities

Question 9

In time management, the Pareto principle has to do with:

A) prioritizing responsibilities.
B) executing responsibilities.
C) scheduling responsibilities.
D) All of these are correct.

Question 10

This technique helps one administrate scheduled responsibilities.

A) Boxing
B) Pareto principle
C) Deadlines
D) Rewards
E) Deadlines and rewards

Question 11

Neuromarketing is a marketing concept based on Neuro-Linguistic Programming, which encourages people to buy things they think they really need.

Question 12

Despite the fact that most college students don't invest money into their retirement, financial advisors recommend that you tuck away some money for the future now.

Question 13

Cleaning your house is a recommended way to save money because you realize you don't need to buy as much, or buy things you already have.

Question 14

Simply stated, for most people, financial wellness is really best described as "debt management."

Question 15

Time management is actually a prime example of social orchestration, where you manipulate factors in your environment for the path of least resistance.

Question 16

Although time awareness is thought to be a left-brain function, effective time management is thought to involve both right and left brain functions.

Question 17

Of the three types of procrastination, the most serious is the straightforward procrastinator because they fool themselves into thinking they have more time.

Question 18

Time juggling would be considered by time management experts as similar to multitasking.

Question 19

The rule of thumb for estimating the time of completion is 1.5 times what you originally think it will be.

Question 20

Clustering is a term used to describe someone who is extremely pressed for time with too much to do.

Question 21

Time management is a crucial coping skill to deal with the pressures of stress. First, explain what behaviors are associated with time robbers. As a health care professional, design a time management program for someone who needs counseling in this area, explaining the concepts and theories used in effective time management.

Question 22

Please define the following terms or concepts in no more than two sentences, and give an example to support your definition.
A. ABC rank-order method
B. Boxing
C. Clustering
D. Delegation
E. Important versus urgent method
F. Lifestyle behavior trap
G. Networking skills
H. Pareto principle
I. Perfectionist
J, Poverty consciousness
K. Procrastinator
L. Retail therapy
M. Scheduling
N. Social engineering/social orchestration
O. Straightforward procrastinator
P. Time juggler
Q. Time mapping
R. Time management
S. Time-trap procrastinator
T. Type A personality
U. Workaholism

Question 23

Please explain how financial difficulties can contribute to emotional stress. Let's assume you are a financial planner giving advice to a graduating senior about to embark on a new career. What are the 5-10 most important things you can tell this person to help them navigate their lives a little more easily?

Question 24

Time management is a crucial coping skill to deal with the pressures of stress. First, explain what behaviors are associated with time robbers. As a healthcare professional, design a time management program for someone who needs counseling in this area, explaining the concepts and theories used in effective time management.

Question 25

Individuals who try to reduce their stress level by shopping and buying items that are not really needed are engaging in:

A) financial freedom.
B) poverty consciousness.
C) sound personal finances.
D) retail therapy.

Question 26

People who are subject to ____________ have the attitude that they never have enough money.

A) poverty consciousness
B) self-fulfilling prophecy
C) retail therapy
D) financial freedom

Question 27

Time compression is the result of all of the following factors, except:

A) instant gratification.
B) information overload.
C) effective time management.
D) increased technology.

Question 28

Which of the following statements would not be one of the myths that can sabotage effective time-management skills?

A) Time is adjustable.
B) Time-management techniques don't work.
C) Attitudes about oneself can contribute to mismanaged time.
D) Methodical organization is boring.

Question 29

Which of the following is a method that can be used to carry out prioritization in time management?

A) Clustering
B) Multitasking
C) Pareto principle
D) Assigning a deadline

Question 30

To "edit your life" means to relinquish control of a responsibility by turning it over to someone else.

Question 31

Nearly all stress-management skills contain an element of time management.

Question 32

Being organized is an effective time-management skill.

Question 33

The three types of procrastinator are the perfectionist, the time juggler, and the lifestyle behavior trap.

Question 34

A workaholic is someone who is obsessed with carrying out every task and responsibility to perfection.

Question 35

Financial wellness has no relationship to debt management.

Question 36

Research shows that screen time has nothing to do with time management.