Nonbank English

What is the definition of pawnshop?

• A financial institution that provides loans without collateral

• A financial institution that provides loans with collateral

• A financial institution that provides loans with low interest

• A financial institution that only provides investment services

• A financial institution that provides loans without any interest

Who founded the first pawnshop in Indonesia?

• Dutch

• English

• Portuguese

• Japanese

• Chinese

What collateral is usually provided in pawnshop transactions?

• Land certificate

• Valuable items such as gold or electronics

• Stocks

• Business certificates

• Diamonds

What is the main purpose of establishing pawnshops by the Dutch colonial government?

• To improve the economy of the people

• To reduce usury practices

• To assist small entrepreneurs

• To strengthen the economic position of the Dutch

• To maximize profits for the colonial government

What happens if a borrower cannot repay their loan at the pawnshop?

• The loan will be extended without interest

• The collateral will be auctioned

• The borrower is given additional time without cost

• The collateral will be returned to the borrower

• The collateral will be left by the lending party

What is meant by 'appraisal value' in the conventional pawnshop system?

• The market selling price of the pawned item

• The value set by the pawnshop based on the condition of the item

• The value determined by the customer

• The value calculated based on the purchase price of the item

• The value determined by the government

What is the maximum loan term in a conventional pawnshop?

• 1 month

• 3 months

• 6 months

• 12 months

• Depends on the type of item being pawned

Which of the following is NOT included in the basic principles of Islamic pawnshops?

• Pledge agreement

• Usury

• Profit-sharing

• Agency

• Lease

What is meant by 'ujroh' in the Islamic pawnshop system?

• The profit obtained by the pawnshop from the difference between the loan value and the value of the item

• The administrative fee charged for the storage service of the item

• The interest charged on the loan provided

• The insurance fee paid to protect the pawned item

• The penalty fee charged for late payment

What is meant by 'flexibility of loan term' in the context of pawnshops?

• A very short loan term

• Ease of extending the loan term

• The same loan term for all types of items

• The obligation to repay the loan in a short time

• No time limit to repay the loan