Quiz on Contract in Islamic Finance

What is the primary source of Shariah in Islamic finance?

• Hadith

• Ijma

• Qiyas

• The Qur'an

Which contract involves a cost-plus-profit arrangement?

• Ijarah

• Mudarabah

• Murabaha

• Musharakah

What does 'Riba' refer to in Islamic finance?

• Manufacturing

• Leasing

• Interest

• Profit-sharing

In which contract do both parties share profits and losses?

• Murabaha

• Ijarah

• Mudarabah

• Musharakah

What is the main characteristic of Shariah-compliant banking?

• Speculative investments

• Debt-based transactions

• Asset-backed financing

• High-interest loans

Which of the following is NOT a type of contract in Islamic finance?

• Ijarah

• Futures

• Mudarabah

• Murabaha

What does 'Istisna' refer to?

• A profit-sharing contract

• A manufacturing contract

• A leasing contract

• A joint partnership contract

What is the role of a Shariah board in financial institutions?

• To manage investments

• To provide loans

• To ensure compliance with Islamic law

• To set interest rates

Which principle is emphasized in Islamic finance to avoid exploitation?

• Transparency

• High-risk investments

• Debt accumulation

• Speculation

What does 'Ijma' refer to in the context of Shariah?

• Consensus of scholars

• Hadith

• Analogical reasoning

• The Qur'an