RISK MANAGEMENT IN TAKAFUL

What is the origin word of "Takaful"?

• Takaful

• Kuflun

• Kafalah

• Kiflih

What is risk management Important in Takaful?

• To maximize profits

• To ensure fair risk allocation

• To avoid compliance with Shariah principle

• To encourage excessive uncertainty

What are the three main categories of risks identified and assessed in Takaful operations?

• Marketing, Financial, External

• Underwriting, Investment, Operational

• Shari'ah, Regulatory, Ethical

• Physical, Human, Natural

In the context of risk control, what does emphasize?

• Maximizing risks

• Ignoring risks

• Mitigation strategies

• Avoidance strategies

What is crucial in ensuring Shari'ah compliance in risk management?

• Encouraging excessive uncertainty

• Transparent risk allocation

• Ignoring ethical investment principles

• Promoting gambling in risk-taking

Which term refers to excessive uncertainty?

• Gharar

• Maysir

• Takaful

• Gharim

What is one responsibility of Takaful operators in risk management?

• Avoiding risk assessment

• Establishing robust risk management policies

• Ignoring staff training

• Disregarding regulatory oversight

What is the primary focus of regulatory oversight?

• Ignoring standards

• Enforcing risk management standards

• Avoiding assessments

• Promoting excessive uncertainty

What is a key aspect to compare between Takaful and Insurance?

• Investment strategies

• Compliance with ethical principles

• Risk management standards

• Marketing techniques

What does suggest the future enhancement of risk management in Takaful operations?

• Ignoring risk assessments

• Avoiding compliance with ethical principles

• Recapitulating the importance of risk management

• Disregarding future considerations