Quiz on Shari'ah Contracts

Quiz on Shari'ah Contracts

University

11 Qs

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Quiz on Shari'ah Contracts

Quiz on Shari'ah Contracts

Assessment

Quiz

Financial Education

University

Practice Problem

Medium

Created by

AHMAD FAUZE ABDUL HAMIT

Used 3+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the essential elements of a valid Shari'ah contract?

The duration of the contract

The form of the contract

The location of the parties

The reputation of the parties

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT classified as a type of Shari'ah contract?

Partnership Contracts

Lease Contracts

Employment Contracts

Sale Contracts

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What principle is fundamental to Islamic commercial transactions?

Profit maximization

Mutual consent

Risk-taking

Competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the context of Shari'ah contracts, what does the term "Riba" refer to?

Uncertainty

Interest

Gambling

Trade in prohibited items

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes a "Murabahah" contract?

A forward sale contract

A cost-plus sale

A joint venture

A lease agreement

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a "Bai' Salam" contract function in Islamic finance?

It is a lease agreement for an asset.

It is a sale of goods to be delivered at a future date.

It is a partnership for profit sharing.

It is a guarantee for a loan.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the significance of matching quality and quantity in the exchange of ribawi items?

To ensure fairness in trade

To avoid Riba al-buyu

To increase market value

To comply with legal standards

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