GHARAR and RIBA

GHARAR and RIBA

Assessment

Quiz

Other

University

Hard

Created by

Fida Fid

Used 9+ times

FREE Resource

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13 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Riba al-Fadl refers to a delay in the settlement of one or both counter-values.

TRUE

FALSE

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Exchanging US$105 with AUD$100 on the spot (hand to hand, without delay) is permissible.

TRUE

FALSE

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Gharar refers to uncertainty and deception (amongst other things).

TRUE

FALSE

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The flesh of a dead animal is not considered a property of value to a Muslim.

TRUE

FALSE

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements is FALSE?

Gharar is allowed in Islamic transactions provided one of the parties has agreed to the condition.

The availability of criteria that involves betting upon the happening of uncertain future event may constitute the Islamic contract as valid.

Non-muslim can take Islamic financing.

Shariah requirements must be observed to ensure Islamic contract is permissible.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Contracts involving gharar yasir are permissible and valid.

TRUE

FALSE

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Gharar is allowed in Islamic transactions provided one of the parties has agreed to the condition.

TRUE

FALSE

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