Islamic banking & Finance

In which contract

of Islamic modes of financing, it is mandatory to disclose the cost to the

client?

• Murabaha.

• Musawamah.

• Muajjal

• Salam

In Salam,

• Delivery is deferred,

  payment is spot.

• Payment is deferred,

  delivery is spot.

A condition, which

seems to be against the contract, but it is in the market practice

• Is a Void contract

• Is a Valid contract

Amanah in Islamic

banking refers to

• An expert who is

  consulted for advice on Islamic law.

• An interest-free

  loan.

• A deposit held in

  trust which creates various fiduciary duties.

The Islamic

financial system prohibits transactions featuring

• Extreme uncertainties

  resulting from speculation and gambling

• Sharing of profit and

  risk of loss

• Partnership

  agreements

• Trading for profit

The buyer does not have the title to subject matter in which of following sale?

• Bai Sahih

• Bai Batil

• Bai Fasid

• Bai Makrooh

Which mode of financing is not allowed by Islamic law?

• Partnership

• Sale

• Money lending business

• Corporation

Murabaha

Muajjal is one

• where Delivery is

  deferred.

• where payment is

  deferred.

• where there is cash

  payment.

'A' buys equipment from 'B' without seeing. However, 'A' has the option to return the it, if it is not according to 'A' after inspection.

• Khiyar-e-Shart

• Khiyar-e-Roiyyat

• Khiyar-e-wasf

• Khiyar-e-Aib

Which of the following sale transaction is prohibited by Islam?

• Salam

• Short selling

• Sale of debt

• Both 2 & 3