3 Minute Financial Quiz 
 
Rank your level of agreement with a scale of 1-5 for the following statements:

1. We create and use a budget on an annual basis.
None
Weak
Average
Good
Expert
2. We monitor our expenses every month and audit them regularly.
None
Weak
Average
Good
Expert
3. We have created and regularly deposit into a Profit Account.
None
Weak
Average
Good
Expert
4. We have three to six-months of operating expenses set aside for emergencies.
None
Weak
Average
Good
Expert
5. The firm’s partners make more in distributions that they do from their own salary.
None
Weak
Average
Good
Expert
6. The firm’s partners are leveraged appropriately with teams of associates and/or paralegals.
None
Weak
Average
Good
Expert
7. All revenue producers in the firm have an 85 to 90% Utilization Rate.
None
Weak
Average
Good
Expert
8. The firm’s billing and collections systems are integrated, fast and streamlined.
None
Weak
Average
Good
Expert
9. The firm has revenue or hourly targets for all their revenue producers that are monitored.
None
Weak
Average
Good
Expert
10. The firm has systems in place to prevent internal fraud.
None
Weak
Average
Good
Expert
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