Millionaire Answers

 Here are the answers to the Dynamic Diva Millionaire quiz. I hope you had as much fun taking the quiz as I had in making it up.
Remember, you do not have to get an A ,all  you have to do is pass and wealth is yours to be discovered. For more in depth under-
standing of the millionaire answers, you will find them in my books, Dynamic Diva Dollars, Wealth Chants and Good Debt Riches.

Millionaire Answers are subject to change based on the fact the financial education changes on a daily basis. So, come back often
I maybe changing the questions and the answers.
 

Dynamic Diva Dollars
Millionaire Quiz


1. Millionaire Divas live in million dollar homes.
True
False

2. Millionaire Divas have a spending plan.
True
False

3. Most Millionaire Divas inherited their fortune.
True
False

4. A Millionaire Divas can retire.
True
False

5. Millionaire Divas invest in real estate, stock market and is a small business owner.
True
False

6. Millionaire Divas invest on average $2,000.00 per year on financial education.
True
False

7. Millionaire Divas believe that their self-worth is determine by their network.
True
False

8. Millionaire Diva become a millionaire when they have one million in the bank and/or a million net worth.
True
False

9. Millionaire Divas think like a millionaire and speak prosperously all the time.
True
False


10. Millionaire Divas are good negotiators.
True
False
11. Millionaire Divas adhere to the power of the sell.
True
False

12. Millionaire Divas have a team of advisors that help them build wealth.
True
False

13. Millionaire Diva loath their career but are satisfied with the pay.
True
False


14. Millionaire Divas believe that financial knowledge is more important than a wealthy mindset.
True
False

15. Millionaire Divas have mentors.
True
False

16. Millionaire Divas do not barter.
True
False


17. Millionaires Divas understand that their health is their wealth.
True
False

18. Millionaire Divas give money to charities or people in need.
True
False

19. Millionaire Divas do not have any good debt.
True
False

20. Millionaire Divas speak and think positively about all money matters.
True
False

21. Millionaire Divas depends on their financial Advisor to make financial decisions for them.
True
False


22. Millionaire Divas depend on their 401k, pension plan and social security for the retirement.
True
False

23. Millionaire Divas got their financial education while in school.
True
False

24. Millionaire Divas are very good at math and have a strong financial aptitude.
True
False

25. Millionaire Divas do not like to discuss money matters with their children.
True
False

26. Millionaire Divas believe it is okay to compromise moral an values in order to be successful in business.
True
False

27. Millionaire Divas attitude about money is a constant struggle. They tend to have a love/hate relationship with money.
True
False

28. What is the average net worth of the African American Family?
A. $5,000
B. $50,000
C. $100,000

29. What is linear Income? Linear income is when you get paid each time you do the work-like a job.

30. What is residual Income? Residual income is when you get paid continously for work/investing  you did one time.

31. What is multiple Streams of Income? Multiple streams of income is income that is derived from various sources.

32. Which is better to increase your income?
A. Get a part-time job
B. Start a home-base business
C. Neither A nor B

33. A good Fico score is 620.
True
False

34. You can create you own mutual fund.
True
False

35. You need to have good  credit and a lot of capital to become wealthy.
True
False

36. Most millionaires started out broke and claimed bankruptcy 3.2 times.
True
False

37. What is the rule of 72?   The rule of 72 is derived when you divide the percentage of an investment
 by 72 and the result will give you how long it will take for your money to double.
 

38. What is the difference between good debt and bad debt? Good debt is when your debt makes you money.
Bad debt is when your debt become an expense.

39. To become wealthy, you need to be deep in good debt?
True
False

40. Most people who win the lottery are broke in 1 year?
True
False

41. If you are a millionaire, you can retire?
True
False

42. Most Millionaires are very good at math.
True
False

43. What tax bracket are in if your make a million dollars a year?
A.18%
B. 28%
C. 33%

44. To participate in a hedge fund, you need to have assets of 1 Million dollars.
True
False

45. A person who makes $500,000 is in what economic class?
A. Poor
B. Middle
C. Upper Middle Class

46. Wealthy people do not use sub-prime mortgages.
A. True
B. False

47. You should pay for your retirement.
True
False

48. Elon Bomani is a
A. Millionaire Mentor
B. Financial Planner
C. Financial Coach

49. Millionaires do not have mentors.
A. True
B. False

50. What is the difference between a trader and an investor? An investor builds wealth for wealth perservation.
A trader trades for profit.

Bonus Question:

Black people have a spending power of $800 billion dollars. They are a very powerful economic force.
True
False-You can not amass wealth by spending and not working as a collective unite.

Black people spend $750 billion dollars of their spending power in the black community.
True
False- Black people only spend 50 billion in their community.

Black people dollars circulate in their community for 7 days.
True - Compared to other community our dollars spend the least amount of time among us.
False

I know you had fun taking the test. I hope the questions have you thinking more about wealth building by investing in real estate,
stock market, trading,  and developing a millionaire mind.

You can find further explanation of the answers in the books, Dynamic Diva Dollars, Wealth Chants and Good Debt Riches.

If you got one answer wrong, you are a Dynamic Diva Millionaire! You would benefit from taking Elon's Millionaire Mentor program and continuing you education because the rules of money change daily.

If you got 5 answers wrong, you would benefit from the Dynamic Diva Wealth Building Phase 1 found in Dynamic Diva Dollars. Also, I recommend all Elon's Books and attending her Financial Fitness party.

If you got more than 5 answers wrong, you need to start at the Pre-wealth Building Phase. This is where you get your financial act together and develop a Wealthy Conscious. You may want to consider the phone consultation package.