
Ijarah and Its Application 2
Authored by Alfatih P.
University - Professional Development
Used 36+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The following are considered benefits of leasing from the perspective of the lessee:
No off balance sheet financing
Not owning an asset in the end
Higher cost financing
Certain costs related to the asset are paid and covered by the lessor
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following are considered to be the legal foundation of Ijarah in the sources of Shari'ah as it contains direct reference to Ijarah?
The Quran & Sunnah
Practice of Western Society
Common Law
Conventional Lease Benchmark
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Based on the Fiqh rules on Ijarah, which of the statements below is wrong?
It's the duty of the lessor to maintain the leased asset to retain its benefit that is used by the lessee
The lessee must act as a trustee of the lessor in treating the leased property properly
A leased asset may be subleased to a third party without permission from the lessor unless stated otherwise
The lessee may use the asset as he wishes with restriction with condition that he has paid for the rent
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The following terms are considered as the Shari'ah compliant alternative of a conventional financial lease industry, except:
Ijarah al 'amal
Ijarah muntahia bittamleek
Ijarah wa Iqtina
Al Ijarah thumma al bai'
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The unique party in an Islamic Real Estate Investment Trust compared to it's conventional counterpart is:
The REIT manager
The trustee
The unit holders
The Shari'ah Supervisory Board
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following can't be purchased using an Ijarah based card such as the KFH Ijarah card?
Furniture
Gym membership
Home entertainment
Kitchen Applications
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
From the financial institution's perspective, how is credit risk mitigated in Ijarah?
Collateral or security
Charity penalty clause
Life takaful cover
All of the options provided are risk mitigation techniques for credit risk
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