Islamic finance

1. A "sukuk" is basically a Shariah-compliant

• Investment certificate

• Bank cheque

• Loan

• Profit

2. A type of partnership where one party offers funds while the other give expertise and management is…

• Murabaha

• Ijarah

• Musharaka

• Mudaraba

3. The Islamic financial system prohibits transaction featuring

• Extreme uncertainties resulting from speculation and gambling

• Sharing of profit and risk of loss

• Partnership agreements

• Trading for profit

4. Under Salam contract goods are…

• Not delivered until payment is made

• Purchased for delivery in future

• Taxed before delivery

• Delivered for payment later

5. Find the asset-based financial instruments:

• Salam, Murabaha, Istisna', Ijarah

• Musharakah and Murabaha

• Salam, Murabaha, Mudaraba, Istisna'

• Salam, Mudaraba, Istisna'

6. ________ is a contract whereby the purchaser pays the price in advance and the delivery of subject matter is postponed to a specified time in future.

• Istisna'

• Ijarah

• Salam

• Qard ul-hassan

7. Tabarru is…

• Contract of charity or donation

• Insurance contract

• A common fund contributed by a takaful participants

• An arrangement based on mutual assistance

8. Find types of Takaful

• Musharaka, Wakala, Hybrid, Waqf

• Mudaraba, Wakala, Hybrid, Waqf

• Mudaraba, Kafala, Hybrid, Waqf

• Murabaha, Wakala, Hybrid, Waqf

9. In the ____________ model of Takaful financial losses are required to be covered only by the participants

• Mudaraba

• Waqf

• Wakala

• Murabaha

10. Which Security is acceptable in Islamic shariah law?

• Stocks

• Bonds

• Common stocks

• Preffered stocks