Discover Your Career Path

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Questions and Answers

What is the currency of the new rich according to Timothy Ferriss?

  • Social status
  • Luxury goods
  • Money and power
  • Time and mobility (correct)

What is the importance of being a dealmaker according to the text?

  • To negotiate reality (correct)
  • To make more money
  • To gain power and control
  • To be unethical in negotiations

What does the word DEAL stand for in the context of the text?

  • Determine, Evaluate, Analyze, Limit
  • Demonstrate, Evaluate, Analyze, Learn
  • Definition, Elimination, Analysis, Limitation (correct)
  • Determine, Evaluate, Act, Learn

What is the uncommon conclusion that the text leads to?

<p>The common sense rules of the 'real world' are a fragile collection of socially reinforced illusions (B)</p>
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What is the New Rich's approach to work-life balance?

<p>Taking mini-retirements throughout their lives (B)</p>
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What does the author suggest about sacrificing personal productivity for the sake of work?

<p>It is not productive and should be avoided (A)</p>
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What is the author's advice on waiting for the right time to pursue important things?

<p>Do it now and correct the course as you go (D)</p>
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What does the author recommend regarding focusing on strengths and weaknesses?

<p>Focus on leveraging strengths for better results (B)</p>
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What did the author do to conquer his fear of uncertainty?

<p>He envisioned all possible worst case scenarios and realized they were not as bad as he thought (A)</p>
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What did the author realize about his worst case scenarios?

<p>They were only temporary and not as bad as he thought (B)</p>
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What did the author's clients often say to him after experiencing his services?

<p>God, I wish I could do what you do (A)</p>
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What did the author realize about fear disguised as optimism?

<p>It leads to the same result as fear disguised as pessimism - nothing happens (B)</p>
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What is the main difference between the 'New Rich' and the 'Deferrers' according to the text?

<p>The 'New Rich' prioritize quality of life and pursuing their dreams, while the 'Deferrers' prioritize accumulating material possessions. (D)</p>
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What is the 'E' in the 'ELA' lifestyle design recipe according to the text?

<p>Elimination (C)</p>
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What is the 'A' in the 'ELA' lifestyle design recipe according to the text?

<p>Automation (A)</p>
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What is the 'L' in the 'ELA' lifestyle design recipe according to the text?

<p>Liberation (D)</p>
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What is the main reason people avoid quitting their jobs?

<p>They believe everything will improve (B)</p>
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What is the difference between enduring a boring job and enduring pure hell?

<p>Pure hell forces action, while a boring job can be endured without action (A)</p>
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What is the fear of the unknown disguised as?

<p>Optimism (A)</p>
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What is the main message the author is trying to convey?

<p>Don't save it all for the end (A)</p>
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What is the measure of a person's success, according to the text?

<p>Their willingness to have uncomfortable situations (B)</p>
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What should you consider when measuring the cost of inaction?

<p>The potential downsides of action and the atrocious cost of inaction (A)</p>
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What is the 'freedom multiplier' according to the text?

<p>The number of options you have in life (C)</p>
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What is the flaw with retirement planning according to the text?

<p>It is predicated on the fact that you don't like what you are doing during the most physically capable moments of your life (A)</p>
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What is the author's view on following popular models?

<p>They are never effective and should be avoided at all costs (A)</p>
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What is the important distinction between official rules and self-imposed rules according to the text?

<p>Self-imposed rules are more important than official rules (C)</p>
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What is the meaning of eustress according to the text?

<p>Stress that is healthy and promotes growth (D)</p>
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What is the importance of relative income according to the text?

<p>It is more important than absolute income (D)</p>
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What is the author's view on using money as a solution to problems?

<p>Adding more money isn't the answer to problems (D)</p>
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What is the definition of free time according to the text?

<p>Time spent doing what you want to do (D)</p>
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