Finhcw 1

Let us start with an easy one

When it comes to me (the reader) receiving a eidiyah (عيدية), the fair time for it to stop is when:

• I reach 18 years old

• I graduate medical school

• I have my first child

• I become a consultant

• I retire from medicine

Answer explanation

Retiring from medicine is very fair and reasonable in my opinion..

According to the published literature, when compared to other professionals making the same amount of money, doctors have been found to:

• Do better financially

• Do worse Financially

• Do the same financially

Answer explanation

Source: "The Millionaire next door" Stanely and Danko, November 2010

The best way to assess if your financial situation is improving is with:

• An increasing salary

• Decreasing expenses

• paying off any debt on your home

• Increasing net worth

• Increasing income from your investments

Answer explanation

When taking care of a malnourished child, the best way to assess if he is getting better is if his weight is increasing. The same with your money...

When considering buy a new car, what is the maximum price you should consider?

• 5% of yearly income

• 15% of yearly income

• 25% of yearly income

• 35% of yearly income

• 45% of yearly income

Answer explanation

In addition to the total cost of the car itself, a very important fact to consider is the ongoing costs of maintaining the car, such as gasoline consumption, insurance and maintenance

Buying a car for the purpose of getting to work, is:

• A financial need

• A financial want

• It depends

• A financial Investment

Answer explanation

It depends on the availability of public transport and what type of car you wish to get

Investments experts say that investments should be thought of like which mode of transport?

• A parachute

• A sports car

• An airplane

• A surfboard

• A submarine

Answer explanation

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