Understanding Islamic Finance

Understanding Islamic Finance

University

8 Qs

quiz-placeholder

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Understanding Islamic Finance

Understanding Islamic Finance

Assessment

Quiz

Others

University

Hard

Created by

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!