Financial Contract_The Rules
Quiz
•
Education
•
University
•
Medium
Joval Farras
Used 10+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Murabaha is selling a commodity as per the purchasing price with a
defined and agreed profit markup
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
BBA is a sale contract in which the payment of the price is deferred
and payable at a particular time in the future.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Tawarruq refers to the process of purchasing a commodity for a
deferred price through Musawama (Bargaining) or Murabaha (Markup),
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Bai-Al Salam is the purchaser of a commodity for deferred delivery in exchange for immediate payment
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Istisna is a contract of sale of specified items to be manufactured or constructed with an obligation on the part of the seller to deliver them to the purchaser upon completion.
False
True
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Mudaraba is a partnership between two or more parties whereby each partner contributes a specific amount of money in a manner that gives each one a right to deal in the assets of the partnership.
False
True
Answer explanation
Mudaraba is a form of partnership in profit whereby one party provides capital (rab-al-maal) and another, management skill or labour (mudarib).
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Musharaka (sharikatul al-inan) is a form of partnership in profit whereby one party provides capital (rab-al-maal) and another, management skill or labour (mudarib).
False
True
Answer explanation
Musharaka (sharikatul al-inan) is a partnership between two or more parties whereby each partner contributes a specific amount of money in a manner that gives each one a right to deal in the assets of the partnership.
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