Team Mode FIN546

What is the assumption behind the conventional financial system regarding human decision-making?

• Humans are irrational in decision-making.

• Humans are rational in decision-making.

• Humans rely on emotions in decision-making.

• Humans are unpredictable in decision-making.

What type of system is the conventional financial system described as?

• Value-Based System

• Value Neutral System

• Emotion-Driven System

• Ethical System

In the Islamic Worldview diagram, what is the relationship between Allah and the Individual?

• Explicit Contract

• Implicit Contract

• Syariah Islamiah

• Istikhlaf Contract

According to Istikhlaf, to whom is man accountable for his conduct on earth?

• Himself

• Society

• Allah

• Government

What is the basis for the provision of financial services in Islamic finance?

• Islamic commercial jurisprudence (Fiqh al-Mua’malat)

• Secular financial laws

• International trade agreements

• Corporate policies

What is a key aspect of risk management in Islamic finance?

• Risk transformation and management

• Risk elimination

• Risk avoidance

• Risk speculation

What does the diagram suggest is a key focus of Maqasid al-Shari’ah?

• Preservation and Promotion

• Destruction and Chaos

• Ignorance and Poverty

• Injustice and Inequality

What must all resources be used for according to Islamic economics?

• Personal gain

• Unlimited consumption

• The well-being of all

• Economic growth only

What does 'Risalah' refer to in Islam?

• Guarantee

• Message

• Purification

• Afterlife

What is the primary message conveyed by 'Risalah'?

• Guarantee

• Ownership

• Message from Allah

• Purification