Islamic economic Quiz

Ijarah refers to the sale of an asset in Islamic finance.

• True

• False

In Ijarah, the ownership of the leased asset remains with the lessor.

• True

• False

Murabahah is a type of loan contract in Islamic finance.

• True

• False

Murabahah requires the seller to disclose the cost of the asset to the buyer.

• True

• False

Salam and Istisna' are exceptions to the general rule requiring the existence of goods at the time of sale.

• True

• False

Which of the following is a condition for a valid Murabahah sale?

• Seller doesn't need ownership

• Price uncertainty

• Asset not yet acquired

• Ownership and possession by seller

If the exact cost of an asset cannot be determined, which sale method is used?

• Murabahah

• Ijara

• Musawamah

• Istisna

Who bears the risk of asset ownership in Ijarah?

• Lessee

• Both parties

• Lessor

• Vendor

Which of the following is a key requirement of a valid Salam contract?

• Partial payment at delivery

• Deferred payment

• Full advance payment

• Installments

In Salam, which party is required to deliver the commodity later?

• Buyer

• Seller

• Agent

• Bank