
Understanding Islamic Finance

Quiz
•
Others
•
University
•
Hard
Abdulla Pp
FREE Resource
8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main principle of Islamic finance?
The allowance of interest-based transactions under certain conditions.
The endorsement of high-risk investments without restrictions.
The focus on maximizing profits at any ethical cost.
The prohibition of riba (interest) and the promotion of risk-sharing and ethical investments.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Explain the concept of Murabaha financing.
Murabaha financing requires the buyer to pay the full price upfront.
Murabaha financing is a type of investment in stocks.
Murabaha financing involves charging interest on loans.
Murabaha financing is a Sharia-compliant sale where the seller discloses the cost and profit margin, allowing the buyer to purchase an asset without interest.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What distinguishes Islamic banking from conventional banking?
Islamic banking operates under a fixed interest rate system.
Islamic banking prohibits interest and promotes ethical investments, while conventional banking is interest-based.
Conventional banking allows for ethical investments only.
Islamic banking is solely focused on profit maximization.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is Zakat considered important in Islamic finance?
Zakat is important in Islamic finance as it purifies wealth, promotes social justice, and reduces poverty.
Zakat is a tax imposed by the government on all citizens.
Zakat is a form of investment in real estate.
Zakat is primarily for funding religious institutions.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
List some key financial instruments used in Islamic finance.
Mudarabah, Musharakah, Ijara, Sukuk, Murabaha
Equity shares
Options
Bonds
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the sign after Allah (swt) no longer accept repentance?
The appearance of PBUH
The revelation of Quran
The sunrise of the West
Collapse of the Ottaman Empire
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Who has topped the 2021 Fortune 500 list of the most highly compensated CEOs?
Jack Ma
Elon Musk
Tim Cook
Jensen Huang
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Was makkah conquered?
Yes
No!
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